CAJ Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06783707 (England and Wales)

CAJ GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C A Joannou

Mrs S R Joannou

Mrs A C Georgiou

Miss P C Joannou

REGISTERED OFFICE:

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

REGISTERED NUMBER:

06783707 (England and Wales)

ACCOUNTANTS:

Kounnis And Partners Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

FIXED ASSETS

Investments

4

9,865,540

7,265,490

CURRENT ASSETS

Debtors

5

171,590

143,021

Cash at bank

6,619

12,457

178,209

155,478

CREDITORS

Amounts falling due within one year

6

49,793

135,182

NET CURRENT ASSETS

128,416

20,296

TOTAL ASSETS LESS CURRENT LIABILITIES

9,993,956

7,285,786

PROVISIONS FOR LIABILITIES

8

1,296,822

1,058,844

NET ASSETS

8,697,134

6,226,942

CAPITAL AND RESERVES

Called up share capital

9

50,010

50,010

Share premium

10

990

990

Fair value reserve

10

6,587,399

4,235,377

Retained earnings

10

2,058,735

1,940,565

SHAREHOLDERS' FUNDS

8,697,134

6,226,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 28 December 2018 and were signed on its behalf by:

Mr C A Joannou - Director

1.	STATUTORY INFORMATION

CAJ Group 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 on a going concern basis

under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated. The company

adopted FRS 102 1A in the current year and an explanation of how transition of FRS 102 1A has affected the

reported financial position and performance is given in the notes.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will,

by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk

of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are

discussed below:

Corporation tax

Significant judgement is required in determining the provision for corporation tax. There are transactions and

calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The

Company recognises liabilities for anticipated tax issues based on estimates of whether additional taxes will be

due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such

differences will impact the corporation tax and deferred tax provisions in the period in which such determination

is made.

Dividend and interest receivable

Dividend income from investments is recognised when the shareholders' rights to receive payment have been

established and the amount of revenue can be measured reliably..

Interest income is recognised when it is probable that the economic benefits will flow to the company and the

amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the

principal outstanding at the effective interest rate applicable.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs and

are measured subsequently at amortised cost using the effective interest method.

Interest in other participating interests

An associate is an entity over which the company has significant influence and that is neither a subsidiary nor an

interest in a joint venture. Significant influence is the power to participate in the financial and operating policy

decisions of the investee but is not control or joint control over those policies. Investments in associates are

initially accounted for at the transaction price. At each reporting date investments in associates are measured at

fair value, with changes in fair value recognised in other comprehensive income.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in other

participating

Unlisted

Alternative

interests

investments

Investments

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2017

6,440,490

625,000

200,000

7,265,490

Additions

10,050

-

-

10,050

Revaluations

2,590,000

-

-

2,590,000

At 31 March 2018

9,040,540

625,000

200,000

9,865,540

NET BOOK VALUE

At 31 March 2018

9,040,540

625,000

200,000

9,865,540

At 31 March 2017

6,440,490

625,000

200,000

7,265,490

Cost or valuation at 31 March 2018 is represented by:

Interest

in other

participating

Unlisted

Alternative

interests

investments

Investments

Totals

£

£

£

£

Valuation in 2016

4,032,591

200,000

150,000

4,382,591

Valuation in 2017

911,380

-

-

911,380

Valuation in 2018

2,590,000

-

-

2,590,000

Cost

1,506,569

425,000

50,000

1,981,569

9,040,540

625,000

200,000

9,865,540

The company's investments at the balance sheet date in the share capital of companies include the following:

Participating interest

Company Name

Nature of business

class of shares

% holding

Aggregate capital and reserves

Profit for the year

£

£

Visionbrook Limited

Property Investments

Ordinary

25%

1,231,714

40,575

Kounnis And Partners Ltd

Audit & Accountancy

Ordinary

20%

825,555

834,135

Sterling Property Consultants Ltd

Property Consultants

Ordinary

20%

2,434

-

Minerva Reality Corporation Ltd

Property Investments

Ordinary

20%

61,062

60,062

Power Snooker Group Ltd

Holding Company

Ordinary

17.39%

1,373,025

69,230

Kounnis Insuforce Ltd

Insurance Brokers

Ordinary

12%

1,441,024

700,000

Insurance Properties Ltd

Property Group

Ordinary

12%

830,828

53,584

Universal Music Bank Limited

Dormant

Ordinary

100%

100

-

Christians Ltd

Business Consultancy

Ordinary

50%

10,000

-

Sterling Financial Group Ltd

Holding Company

Ordinary

100%

100

-

Kounnis Ltd

Dormant Company

Ordinary

20%

100

-

Kounnis Finance Group Ltd

Investment Company

Ordinary

20%

5

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

-

2,766

Related companies

171,590

140,255

171,590

143,021

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts (see note 7)

49,250

58,356

Uncall share capital

-

31,680

Directors' loan accounts

243

18,196

Accruals and deferred income

300

26,950

49,793

135,182

7.

LOANS

An analysis of the maturity of loans is given below:

2018

2017

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

4,898

Bank loans

49,250

53,458

49,250

58,356

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

1,296,822

1,058,844

Deferred

tax

£

Balance at 1 April 2017

1,058,844

Provided during year

237,978

Balance at 31 March 2018

1,296,822

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

10

Ordinary "A" Voting Shares

£1

10

10

50,000

Ordinary "B" Non Voting Shares

£1

50,000

50,000

50,010

50,010

10.

RESERVES

Fair

Retained

Share

value

earnings

premium

reserve

Totals

£

£

£

£

At 1 April 2017

1,940,565

990

4,235,377

6,176,932

Profit for the year

203,170

203,170

Dividends

(85,000

)

(85,000

)

Transfer on revaluation

-

-

2,352,022

2,352,022

At 31 March 2018

2,058,735

990

6,587,399

8,647,124

11.	ULTIMATE CONTROLLING PARTY

The director and shareholder Mr C A Joannou, controls the company as a result of holding all the

non-participating Ordinary "A" shares and which are the only ones with full voting rights.