Jenga House Ltd Company Accounts

JENGA HOUSE LIMITED - Company Information

false false false false false false false false false true false false false false false true true No description of principal activity 2017-01-01 Sage Accounts Production Advanced 2017 Update 4 - FRS 1,510 503 503 1,006 504 1,007 6,745,000 6,745,000 6,745,000 261,320 248,254 xbrli:pure xbrli:shares iso4217:GBP 09251194 2017-01-01 2017-12-31 09251194 2017-12-31 09251194 2016-12-31 09251194 2016-01-01 2016-12-31 09251194 2016-12-31 09251194 bus:Director2 2017-01-01 2017-12-31 09251194 core:FurnitureFittings 2016-12-31 09251194 core:FurnitureFittings 2017-12-31 09251194 core:WithinOneYear 2017-12-31 09251194 core:WithinOneYear 2016-12-31 09251194 core:AfterOneYear 2017-12-31 09251194 core:AfterOneYear 2016-12-31 09251194 core:RestatedAmount 2016-12-31 09251194 core:ShareCapital 2017-12-31 09251194 core:ShareCapital 2016-12-31 09251194 core:RetainedEarningsAccumulatedLosses 2017-12-31 09251194 core:RestatedAmount core:RetainedEarningsAccumulatedLosses 2016-12-31 09251194 core:FurnitureFittings 2017-01-01 2017-12-31 09251194 core:CostValuation core:Non-currentFinancialInstruments 2017-12-31 09251194 core:Non-currentFinancialInstruments 2017-12-31 09251194 core:Non-currentFinancialInstruments 2016-12-31 09251194 core:AcceleratedTaxDepreciationDeferredTax 2017-12-31 09251194 core:AcceleratedTaxDepreciationDeferredTax 2016-12-31 09251194 core:FurnitureFittings 2016-12-31 09251194 core:DeferredTaxation 2016-12-31 09251194 core:DeferredTaxation 2017-12-31 09251194 bus:FRS102 2017-01-01 2017-12-31 09251194 bus:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 09251194 bus:FullAccounts 2017-01-01 2017-12-31 09251194 bus:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 09251194 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 09251194 core:DeferredTaxation 2017-01-01 2017-12-31

COMPANY REGISTRATION NUMBER: 09251194

Jenga House Ltd

Filleted Unaudited Financial Statements

31 December 2017

Jenga House Ltd

Financial Statements

Year ended 31 December 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Jenga House Ltd

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4	504	1,007
Investments	5	6,745,000	6,745,000
		------------	------------
		6,745,504	6,746,007

Current assets

Debtors	6	64,819	67,637
Cash at bank and in hand		50,180	69,770
		---------	---------
		114,999	137,407

Creditors: amounts falling due within one year	7	282,339		276,044
		---------		---------
Net current liabilities			167,340	138,637
			------------	------------
Total assets less current liabilities			6,578,164	6,607,370

Creditors: amounts falling due after more than one year	8		5,141,206	5,303,633

Provisions

Taxation including deferred tax	9	248,254	261,320
		------------	------------
Net assets		1,188,704	1,042,417
		------------	------------

Capital and reserves

Called up share capital		2	2
Profit and loss account	11	1,188,702	1,042,415
		------------	------------
Shareholders funds		1,188,704	1,042,417
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Jenga House Ltd

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 25 May 2018 , and are signed on behalf of the board by:

Mr H Shah
Director

Company registration number: 09251194

Jenga House Ltd

Notes to the Financial Statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9A The Broadway, Stanmore, Middlesex, HA7 4DA, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The rental income shown in the profit and loss account represents amounts receivable for the period.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixture & Fittings	-	Straight line over three years

Investments

Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss.

No depreciation or amortisation is provided in respect of investment properties.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 January 2017 and 31 December 2017	1,510	1,510
	-------	-------
Depreciation
At 1 January 2017	503	503
Charge for the year	503	503
	-------	-------
At 31 December 2017	1,006	1,006
	-------	-------
Carrying amount
At 31 December 2017	504	504
	-------	-------
At 31 December 2016	1,007	1,007
	-------	-------

5. Investments

	Investment properties
	£
Cost
At 1 January 2017 and 31 December 2017	6,745,000
	------------
Impairment
At 1 January 2017 and 31 December 2017	–
	------------

Carrying amount
At 31 December 2017	6,745,000
	------------
At 31 December 2016	6,745,000
	------------

The valuation of the company's investment properties was carried out at the balance sheet date by the directors on an open market basis.

No depreciation or amortisation is provided in respect of these properties.

6. Debtors

	2017	2016
	£	£
Other debtors	64,819	67,637
	--------	--------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	174,463	180,000
Trade creditors	3,665	158
Corporation tax	14,916	–
Other creditors	89,295	95,886
	---------	---------
	282,339	276,044
	---------	---------

8. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Bank loans and overdrafts	4,296,043	4,464,970
Shareholders loan	845,163	838,663
	------------	------------
	5,141,206	5,303,633
	------------	------------

The aggregated bank loans of £4,470,507 (2016:£4,644,970) are secured by a first legal charge over the company's investment properties. Within the above amount £174,463 is due between 1 year & 5 years and of £4,296,044 is due after 5 years.

9. Provisions

	Deferred tax (note 10)
	£
At 1 January 2017	261,320
Other movements 1	( 13,066)
	---------
At 31 December 2017	248,254
	---------

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2017	2016
	£	£
Included in provisions (note 9)	248,254	261,320
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2017	2016
	£	£
Accelerated capital allowances	248,254	261,320
	---------	---------

11. Profit and loss account

	2017	2016
	£	£
Realised gain/(loss)	116,663	(2,854)
Fair value gains on investment properties	1,058,347	1,045,282
	------------	------------
	1,175,010	1,042,428
	------------	------------

12. Parent company

The company is a wholly owned subsidiary of Orion House Development Limited, a company incorporated in England & Wales, which is also the ultimate parent undertaking.