Jamarah Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09277980 (England and Wales)

JAMARAH LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

Page

Company Information

1

Income Statement

2

Other Comprehensive Income

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

R P Andrews

Mrs M E Andrews

J Playfair

SECRETARY:

John Playfair Associates

REGISTERED OFFICE:

Studio 103 Mill Studio Business Centre

Crane Mead

Ware

Hertfordshire

SG12 9PY

REGISTERED NUMBER:

09277980 (England and Wales)

ACCOUNTANTS:

Playfair Partnerships Limited

Studio 103

Mill Studio Business Centre

Crane Mead

Ware

Hertfordshire

SG12 9 PY

TURNOVER

129,365

108,731

Administrative expenses

56,519

49,507

OPERATING PROFIT

72,846

59,224

Interest receivable and similar income

-

5

72,846

59,229

Interest payable and similar expenses

-

53

PROFIT BEFORE TAXATION

72,846

59,176

Tax on profit

55,319

12,756

PROFIT FOR THE FINANCIAL YEAR

17,527

46,420

PROFIT FOR THE YEAR

17,527

46,420

OTHER COMPREHENSIVE INCOME

Gain on revaluation of investment

230,324

-

property

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

230,324

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

247,851

46,420

FIXED ASSETS

Tangible assets

5

22,187

26,103

Investment property

6

1,429,433

1,122,931

1,451,620

1,149,034

CURRENT ASSETS

Debtors

7

2,100

682

Cash at bank

29,547

39,739

31,647

40,421

CREDITORS

Amounts falling due within one year

8

258,263

222,618

NET CURRENT LIABILITIES

(226,616

)

(182,197

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,225,004

966,837

PROVISIONS FOR LIABILITIES

9

39,016

-

NET ASSETS

1,185,988

966,837

CAPITAL AND RESERVES

Called up share capital

8,001

8,001

Share premium

10

102,291

102,291

Retained earnings

10

1,075,696

856,545

1,185,988

966,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 September 2017 and were signed on its behalf by:

R P Andrews - Director

1.	STATUTORY INFORMATION

Jamarah Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in sterling (£) which is also the functional currency for the

company.

The company transitioned from previously extant UK GAAP to FRS 102, Section 1A as at 1 May 2015.

An explanation of how transition to FRS 102, Section 1A has affected the reported financial position

and financial performance is given in note 11.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and

assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and

value added taxes.

Turnover includes revenue earned from the lease of commercial property and is recognised in line

with lease agreements.

Tangible fixed assets

At each reporting date, property, plant and equipment are reviewed to determine whether there is any

indication that those assets have suffered an impairment loss. If there is an indication of possible

impairment, the recoverable amount of any affected asset is estimated and compared with its carrying

amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated

recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the

revised estimate of its recoverable amount, but not in excess of the amount that would have been

determined had no impairment loss been recognised for the asset in prior years. A reversal of

impairment is recognised immediately in profit or loss.

Depreciation has been computed to write off the cost of the property, plant and equipment over their

useful expected lives using the following rates:

Plant & Machinery etc - 15% on reducing balance

Investment property

Investment property is carried at fair value and any revaluation surpluses are recognised in the income

statement. Deferred tax is provided on these gains at the rate expected to apply when the property is

sold.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the

current or past reporting periods using tax rates that have been enacted or substantively enacted by

the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax relating to a non-depreciable asset that is measured using the revaluation model, or to

investment properties measured at fair value, is measured using the tax rates and allowances that

apply to the sale of the asset.

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors

Trade and other debtors are measured at transaction price less any impairment unless the

arrangement constitutes a financing transaction in which case the transaction is measured at the

present value of the future receipts discounted at the prevailing market rate of interest. Loans are

initially measured at fair value and are subsequently measured at amortised cost using the effective

interest method less any impairment.

Trade and other creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a

financing transaction in which case the transaction is measured at present value of future payments

discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair

value net of their transaction costs. They are subsequently measured at amortised cost using the

effective interest method.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term

deposits with an original maturity date of three months or less.

Provisions

Provisions are recognised when the company has a present obligation, either legal or constructive, as

a result of a past event and it is probable that the company will be required to settle the obligation and

a reliable estimate can be made.

Where the effect of the time value of money is material, the obligation is recognised at the present

value adopting a pre-tax discount rate. The unwinding of the discount is treated as a finance cost in the

income statement in the period in which it arises.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

54,531

DEPRECIATION

At 1 May 2016

28,428

Charge for year

3,916

At 30 April 2017

32,344

NET BOOK VALUE

At 30 April 2017

22,187

At 30 April 2016

26,103

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

1,122,931

Additions

76,178

Revaluations

230,324

At 30 April 2017

1,429,433

NET BOOK VALUE

At 30 April 2017

1,429,433

At 30 April 2016

1,122,931

Cost or valuation at 30 April 2017 is represented by:

£

Valuation in 2017

230,324

Cost

1,199,109

1,429,433

Investment property was valued on an open market basis on 30 April 2017 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,100

682

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Deposits held

9,192

7,360

Taxation and social security

16,582

13,040

Other creditors

232,489

202,218

258,263

222,618

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred taxation

39,016

-

Deferred

tax

£

Deferred tax charge

39,016

Balance at 30 April 2017

39,016

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 May 2016

856,545

102,291

958,836

Profit for the year

17,527

17,527

Dividends

(28,700

)

(28,700

)

Revaluation

230,324

-

230,324

At 30 April 2017

1,075,696

102,291

1,177,987

Reserves contains £230,324 of non distributable reserves from revaluation gains on investment

property

11.	FIRST YEAR ADOPTION

The company transitioned from previously extant UK GAAP to FRS 102, Section 1A as at 1 May 2015.

The transition to FRS 102, Section 1A has not affected the reported financial position and financial

performance.