Silverfin false 31/03/2023 01/04/2022 31/03/2023 J M Tibbs S A Tibbs S C Townsend 30 August 2023 The principal activity of the Company during the financial year was that of a holding company. 08366488 2023-03-31 08366488 2022-03-31 08366488 core:CurrentFinancialInstruments 2023-03-31 08366488 core:CurrentFinancialInstruments 2022-03-31 08366488 core:Non-currentFinancialInstruments 2023-03-31 08366488 core:Non-currentFinancialInstruments 2022-03-31 08366488 core:ShareCapital 2023-03-31 08366488 core:ShareCapital 2022-03-31 08366488 core:CapitalRedemptionReserve 2023-03-31 08366488 core:CapitalRedemptionReserve 2022-03-31 08366488 core:RetainedEarningsAccumulatedLosses 2023-03-31 08366488 core:RetainedEarningsAccumulatedLosses 2022-03-31 08366488 core:CostValuation 2022-03-31 08366488 core:CostValuation 2023-03-31 08366488 core:MoreThanFiveYears 2023-03-31 08366488 core:MoreThanFiveYears 2022-03-31 08366488 bus:OrdinaryShareClass1 2023-03-31 08366488 bus:OrdinaryShareClass2 2023-03-31 08366488 bus:PreferenceShareClass1 2023-03-31 08366488 2022-04-01 2023-03-31 08366488 bus:FullAccounts 2022-04-01 2023-03-31 08366488 bus:SmallEntities 2022-04-01 2023-03-31 08366488 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08366488 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08366488 bus:Director1 2022-04-01 2023-03-31 08366488 bus:Director2 2022-04-01 2023-03-31 08366488 bus:Director3 2022-04-01 2023-03-31 08366488 2021-04-01 2022-03-31 08366488 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 08366488 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08366488 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 08366488 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 08366488 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 08366488 bus:PreferenceShareClass1 2022-04-01 2023-03-31 08366488 bus:PreferenceShareClass1 2021-04-01 2022-03-31 08366488 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08366488 (England and Wales)

JON TIBBS ASSOCIATES (HOLDINGS) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

JON TIBBS ASSOCIATES (HOLDINGS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

JON TIBBS ASSOCIATES (HOLDINGS) LIMITED

BALANCE SHEET

As at 31 March 2023
JON TIBBS ASSOCIATES (HOLDINGS) LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 770,810 770,810
770,810 770,810
Current assets
Debtors 5 10,462 9,354
10,462 9,354
Creditors: amounts falling due within one year 6 ( 133,878) ( 491,483)
Net current liabilities (123,416) (482,129)
Total assets less current liabilities 647,394 288,681
Creditors: amounts falling due after more than one year 7 ( 246,275) ( 287,562)
Net assets 401,119 1,119
Capital and reserves
Called-up share capital 8 1,004 1,004
Capital redemption reserve 1 1
Profit and loss account 400,114 114
Total shareholder's funds 401,119 1,119

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Jon Tibbs Associates (Holdings) Limited (registered number: 08366488) were approved and authorised for issue by the Board of Directors on 30 August 2023. They were signed on its behalf by:

J M Tibbs
Director
JON TIBBS ASSOCIATES (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
JON TIBBS ASSOCIATES (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jon Tibbs Associates (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is A7/A8 Speldhurst Business Park, Langton Road Speldhurst, Tunbridge Wells, TN3 0AQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the [appropriate pricing] model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Impairment of assets

Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Fixed asset 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.

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Financial instruments

Classification
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.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Ordinary 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.

Business Combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquiisition date if the adjustment is probable and can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 770,810
At 31 March 2023 770,810
Carrying value at 31 March 2023 770,810
Carrying value at 31 March 2022 770,810

5. Debtors

2023 2022
£ £
Other debtors 10,462 9,354

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 93,970 418,348
Other creditors 39,908 73,135
133,878 491,483

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

2023 2022
£ £
Other creditors 246,275 287,562

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Other creditors (repayable by instalments) 87,000 131,983

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary A shares of £ 1.00 each 2 2
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
1,002 1,002
2 Preference shares of £ 1.00 each 2 2
1,004 1,004

9. Related party transactions

The company has taken advantage of the exemption in FRS 102 33.1A "Related Party Disclosures" from disclosing transactions with other members of the group.

10. Ultimate controlling party

On 21 March 2022, the shareholders of Jon Tibbs Associates (Holdings) Limited ("Holdings"), sold their shares to an Employee Ownership Trust ("EOT"). JTA Trustees Limited, a company limited by guarantee, was incorporated to undertake the acquisition of Holdings by the EOT. The consideration for the acquisition, comprised of a sum due at completion and a remaining balance payable by instalments. Jon Tibbs Associates Limited, together with other companies within the group will settle the payments due by the EOT through contributions to the EOT.