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Registration number: 06520283

The Jingle Bell House Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

The Jingle Bell House Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

The Jingle Bell House Limited

Company Information

Directors

Mrs K Paget

Mr L Paget

Company secretary

Mrs K Paget

Registered office

28 East Avenue
Talbot Woods
Bournemouth
Dorset
BH3 7BZ

Accountants

Wilkinsons Accountants Limited
Chartered Certified Accountants
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

 

The Jingle Bell House Limited

(Registration number: 06520283)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

94,754

11,239

Current assets

 

Debtors

6

321,064

343,422

Cash at bank and in hand

 

65,763

92,730

 

386,827

436,152

Creditors: Amounts falling due within one year

7

(146,739)

(147,674)

Net current assets

 

240,088

288,478

Total assets less current liabilities

 

334,842

299,717

Creditors: Amounts falling due after more than one year

7

(85,065)

(34,470)

Provisions for liabilities

(16,045)

(1,839)

Net assets

 

233,732

263,408

Capital and reserves

 

Called up share capital

60

60

Share premium reserve

4,000

4,000

Other reserves

105

105

Retained earnings

229,567

259,243

Shareholders' funds

 

233,732

263,408

For the financial year ending 30 April 2023 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 2023 and signed on its behalf by:
 

.........................................
Mrs K Paget
Company secretary and director

 

The Jingle Bell House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

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

The address of its registered office is:
28 East Avenue
Talbot Woods
Bournemouth
Dorset
BH3 7BZ
England

The principal place of business is:
250 Castle Lane West
Bournemouth
Dorset
BH8 9TT
England

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.

Revenue recognition

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Government grants

Where Government Grants have been received in respect of Capital Expenditure, the expenditure is recorded net of any Grants received. Grant not spent at the end of the year are carried forward and matched with future capital expenditure.

Tax

The tax expense for the period comprises current and deferred 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 income 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.

 

The Jingle Bell House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

2

Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment, fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

The Jingle Bell House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2022 - 18).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2022

90,000

90,000

At 30 April 2023

90,000

90,000

Amortisation

At 1 May 2022

90,000

90,000

At 30 April 2023

90,000

90,000

Carrying amount

At 30 April 2023

-

-

 

The Jingle Bell House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Tangible assets

Leasehold improvements
£

Equipment fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

1,300

59,544

-

60,844

Additions

-

501

106,989

107,490

At 30 April 2023

1,300

60,045

106,989

168,334

Depreciation

At 1 May 2022

1,300

48,305

-

49,605

Charge for the year

-

1,686

22,289

23,975

At 30 April 2023

1,300

49,991

22,289

73,580

Carrying amount

At 30 April 2023

-

10,054

84,700

94,754

At 30 April 2022

-

11,239

-

11,239

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

96

Amounts owed by connected parties

10

300,000

330,000

Prepayments

 

8,327

8,326

Other debtors

 

12,737

5,000

 

321,064

343,422

 

The Jingle Bell House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

27,857

7,624

Trade creditors

 

11,704

14,681

Taxation and social security

 

3,787

15,321

Accruals and deferred income

 

2,600

2,928

Other creditors

 

100,791

107,120

 

146,739

147,674

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

85,065

34,470

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

22,388

34,470

Hire purchase contracts

62,677

-

85,065

34,470

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

7,624

Hire purchase contracts

17,857

-

27,857

7,624

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £368,229 (2022 - £403,579). This includes an annual rental commitment of £35,350 due under a lease for premises expiring in 2034.

 

The Jingle Bell House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

10

Related party transactions

At the year end Paget Grennall Ltd owed the Company £210,000 (2022 - £230,000), a company in which the directors have an interest.

At the year end the company was owed £90,000 (2022 - £100,000) from JBH Properties Ltd, a company in which the directors have an interest.