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Registration number: 00469677

John Drury Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

John Drury Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

John Drury Holdings Limited

(Registration number: 00469677)
Balance Sheet as at 31 December 2021

Note

2021

2020

   

£

£

£

£

Fixed assets

   

 

Investment property

4

 

1,610,000

 

1,610,000

Investments

5

 

2,000

 

2,000

   

1,612,000

 

1,612,000

Current assets

   

 

Debtors

6

15,351

 

10,857

 

Cash at bank and in hand

 

246,631

 

208,204

 

 

261,982

 

219,061

 

Creditors: Amounts falling due within one year

7

(190,646)

 

(114,844)

 

Net current assets

   

71,336

 

104,217

Total assets less current liabilities

   

1,683,336

 

1,716,217

Provisions for liabilities

 

(234,000)

 

(234,000)

Net assets

   

1,449,336

 

1,482,217

Capital and reserves

   

 

Called up share capital

9

20,000

 

20,000

 

Other reserves

1,308,811

 

1,308,811

 

Profit and loss account

120,525

 

153,406

 

Total equity

   

1,449,336

 

1,482,217

 

John Drury Holdings Limited

(Registration number: 00469677)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 September 2022 and signed on its behalf by:
 

.........................................

E J Drury

Director

 

John Drury Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Soap Works
28 River Street
Brighouse
HD6 1NJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.

Group accounts not prepared

John Drury Holdings Limited is exempt from preparing group financial statements as the group is small.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of investment property.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

John Drury Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

John Drury Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Financial instruments


Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2020 - 3).

4

Investment properties

2021
£

At 1 January 2021

1,610,000

At 31 December 2021

1,610,000

The investment properties were valued on an open market basis by an independent valuer on 15 September 2017.
The directors are of the opinion that the fair value was unchanged at the balance sheet date.

5

Investments

2021
£

2020
£

Investments in subsidiaries

2,000

2,000

 

John Drury Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Subsidiaries

£

Cost or valuation

At 1 January 2021

2,000

At 31 December 2021

2,000

Carrying amount

At 31 December 2021

2,000

At 31 December 2020

2,000

6

Debtors

2021
£

2020
£

Trade debtors

14,564

10,119

Other debtors

138

138

Prepayments

649

600

15,351

10,857

7

Creditors

2021
 £

2020
 £

Due within one year

Loans and borrowings

77,729

74,954

Trade creditors

205

-

Amounts due to group undertakings

108,273

36,054

Other current financial liabilities

1,939

1,136

Accruals and deferred income

2,500

2,700

190,646

114,844

8

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Other borrowings

77,729

74,954

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000