Jet Investments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09008832 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

Jet Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

D B Warburton

J L Taylor

REGISTERED OFFICE:

First Floor

22 The Causeway

Bishop's Stortford

Hertfordshire

CM23 2EJ

REGISTERED NUMBER:

09008832 (England and Wales)

ACCOUNTANTS:

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

CURRENT ASSETS

Stocks

8,421,293

7,854,959

Debtors

4

171,108

24,653

Cash at bank

34,999

29,194

8,627,400

7,908,806

CREDITORS

Amounts falling due within one year

5

9,285,126

7,915,074

NET CURRENT LIABILITIES

(657,726

)

(6,268

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(657,726

)

(6,268

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(657,826

)

(6,368

)

SHAREHOLDERS' FUNDS

(657,726

)

(6,268

)

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 October 2017 and were signed on its behalf by:

D B Warburton - Director

1.	STATUTORY INFORMATION

Jet Investments Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

In carrying out their duties in respect of going concern the directors have carried out a review of the company's

financial position and cash flow forecast for a period of 12 months from the date of signing these financial

statements. These have been based on a comprehensive review of revenue, expenditure and cash flows taking

into account specific business risks and uncertainties brought about by the current economic environment. The

company is supported by its controlling party who provides funds as needed to enable the company to meets its

day-to-day working capital requirements.

Having taken all the above factors into consideration the directors have reached a conclusion that the company

is able to manage its business risks and have therefore continued to adopt the going concern basis of accounting

in preparing these financial statements.

Stocks

Work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell. Cost

includes the following:

- Purchase price, stamp duty land tax, legal fees and other costs attributable to the acquisition of development

property.

- All costs directly incurred in construction or conversion of the property to its finished state ready for sale.

- A proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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

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

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant

risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.

DEBTORS

30.4.17

30.4.16

£

£

Amounts falling due within one year:

VAT

17,976

24,653

Amounts falling due after more than one year:

Deferred tax asset

Tax losses carried forward

153,132

-

153,132

-

Aggregate amounts

171,108

24,653

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

21,415

80,411

Other creditors

9,263,711

7,834,663

9,285,126

7,915,074

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

100

Ordinary

£1

100

100

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The controlling party is S Taylor.

9.	FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting Standard

102 1A (FRS 102 1A). The following disclosures are required in the year of transition. The last financial

statements under previous UK GAAP were for the year ended 30 April 2016 and the date of transition to FRS

102 1A was therefore 1 May 2015. No transition adjustments were required as a consequence of adopting FRS

102 1A.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Jet Investments Limited for the year ended 30 April 2017 which comprise the Income Statement,

Balance Sheet, and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jet Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jet Investments Limited and state those matters that we have agreed to state to the Board of Directors of Jet Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jet Investments Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jet Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Jet Investments Limited. You consider that Jet Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jet Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

18 October 2017