Jamestan Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05869826 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

Jamestan Holdings Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A P Wilson

Mrs H Wilson

Mr D T Pennington

REGISTERED OFFICE:

Kynochs Industrial Estate

Nuttaberry

Bideford

Devon

EX39 4DT

REGISTERED NUMBER:

05869826 (England and Wales)

ACCOUNTANTS:

R T Marke & Co Ltd

Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

FIXED ASSETS

Tangible assets

5

170,700

173,800

Investments

6

1,041,608

1,041,608

1,212,308

1,215,408

CURRENT ASSETS

Debtors

206

206

Cash at bank

10,017

51

10,223

257

CREDITORS

Amounts falling due within one year

100,009

9

NET CURRENT (LIABILITIES)/ASSETS

(89,786

)

248

TOTAL ASSETS LESS CURRENT LIABILITIES

1,122,522

1,215,656

CAPITAL AND RESERVES

Called up share capital

7

5,000

10,000

Capital redemption reserve

5,000

-

Retained earnings

1,112,522

1,205,656

SHAREHOLDERS' FUNDS

1,122,522

1,215,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 13 September 2018 and were signed on its behalf by:

Mr A P Wilson - Director

Mrs H Wilson - Director

Mr D T Pennington - Director

1.	STATUTORY INFORMATION

Jamestan Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The principal accounting policies adopted in the preparation of the financial statements are set out below and

remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Preparation of consolidated financial statements

The financial statements contain information about Jamestan Holdings Ltd as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% straight line and Nil on land and investment properties,

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

The company has adopted the option in the amendment to FRS 102 from the Triennial review 2017 of

classifying property rented to group companies as freehold property and applying the cost model as modified by

revaluation.

Financial instruments

Basic financial instruments 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

administrative expenses. Loans and borrowings are initially recognised at the transaction price including

transaction costs.

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.

Going concern

The company has net current liabilities of £89,786 (2017 - net current assets £248).

The company is reliant on the continuing financial support of its creditors and while there are no reasons to

doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this

basis, and having regard to the company's anticipated future revenues and costs including repayment of debt

where appropriate, together with the expected availability of working capital, the directors consider it

appropriate to prepare the financial statements on the going concern basis. The financial statements do not

include any adjustments that would result from an inability to meet obligations as they fall due.

Investments

Investments held as fixed assets are stated at cost less provision for any diminution in value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

and 30 April 2018

180,000

DEPRECIATION

At 1 May 2017

6,200

Charge for year

3,100

At 30 April 2018

9,300

NET BOOK VALUE

At 30 April 2018

170,700

At 30 April 2017

173,800

Included in cost of land and buildings is freehold land of £ 25,000 (2017 - £ 25,000 ) which is not depreciated.

The company has adopted the option in the amendment to FRS 102 from the Triennial review 2017 of

classifying property rented to group companies as freehold property and applying the cost model as modified by

revaluation.

Accordingly, property previously classified as investment property has been reclassified as freehold property and

as a result depreciation has been charged on these properties calculated from the date of purchase.

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 May 2017

and 30 April 2018

1,041,608

NET BOOK VALUE

At 30 April 2018

1,041,608

At 30 April 2017

1,041,608

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

as restated

£

£

5,000

Ordinary shares

£1

5,000

10,000

(2017 - 10,000 )

During the year ended 30 April 2018 the company purchased 5,000 of its own shares with a nominal value of

£5,000. The aggregate amount of consideration paid by the company for the shares was £720,000.

8.	POST BALANCE SHEET EVENTS

Since the balance sheet date the company has issued 1,800 Ordinary £1 shares for cash consideration of

£108,100.