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REGISTERED NUMBER: 06383115 (England and Wales)


















JRT HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

29 SEPTEMBER 2021 TO 27 SEPTEMBER 2022






JRT HOLDINGS LIMITED (REGISTERED NUMBER: 06383115)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 SEPTEMBER 2021 TO 27 SEPTEMBER 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


JRT HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 29 SEPTEMBER 2021 TO 27 SEPTEMBER 2022







DIRECTORS: A J Raymond
P Johns





SECRETARY: A J Raymond





REGISTERED OFFICE: New Forest House
Ystradowen
Cowbridge
Vale of Glamorgan
CF71 7SZ





REGISTERED NUMBER: 06383115 (England and Wales)





ACCOUNTANTS: MHA
Chartered Accountants
3 New Mill Court
Swansea Enterprise Park
Swansea
SA7 9FG

JRT HOLDINGS LIMITED (REGISTERED NUMBER: 06383115)

BALANCE SHEET
27 SEPTEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,898,605 1,850,000

CURRENT ASSETS
Cash at bank 6,527 3,104

CREDITORS
Amounts falling due within one year 5 790,236 703,921
NET CURRENT LIABILITIES (783,709 ) (700,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,114,896

1,149,183

CREDITORS
Amounts falling due after more than one
year

6

(992,563

)

(1,020,898

)

PROVISIONS FOR LIABILITIES (12,578 ) (12,578 )
NET ASSETS 109,755 115,707

CAPITAL AND RESERVES
Called up share capital 10,530 10,530
Fair value reserve 8 342,316 342,316
Retained earnings (243,091 ) (237,139 )
SHAREHOLDERS' FUNDS 109,755 115,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 September 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 September 2022 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.

JRT HOLDINGS LIMITED (REGISTERED NUMBER: 06383115)

BALANCE SHEET - continued
27 SEPTEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





A J Raymond - Director


JRT HOLDINGS LIMITED (REGISTERED NUMBER: 06383115)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 SEPTEMBER 2021 TO 27 SEPTEMBER 2022


1. STATUTORY INFORMATION

JRT Holdings 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.

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


Monetary amounts in these financial statements are rounded to nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has net assets at the balance sheet date. However the company has net current liabilities as at 27 September 2022.

At the date of signing the financial statements, the directors have made appropriate enquiries and examined those areas which could give rise to financial exposure, including the current economic uncertainty, in assessing the appropriateness of the going concern basis in preparing the financial statements. The financial statements are prepared on going concern basis.

However the company is reliant on the support of its directors to continue to provide funding to the company and not to call for repayment of Directors' current account balances if it would adversely affect the ability of the company to continue as a going concern for the foreseeable future.

In the event this support was not to continue, this would give rise to a material uncertainty as to the ability of the company to continue in operational existence for the foreseeable future. Accordingly, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, to provide for future liabilities that might arise and to reclassify fixed assets (leasehold land and buildings) and long-term liabilities (bank loans and other loans) as current assets and liabilities.
.

Significant judgements and 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 only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Turnover and revenue recognition
Turnover relates to rental income and is recognised evenly over the period to which it relates.

JRT HOLDINGS LIMITED (REGISTERED NUMBER: 06383115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 SEPTEMBER 2021 TO 27 SEPTEMBER 2022


2. ACCOUNTING POLICIES - continued

Tangible fixed assets - investment property
The company's leasehold land and buildings are treated as an investment property, as defined by the Financial Reporting Standard 102 Section 1A "Small Entities" accordingly, they are not depreciated. Investment properties for which fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value annually, with the change recognised in the income statement. Surpluses or deficits on revaluation are then transferred from Retained Earnings to a separate fair value non-distributable reserve.

Financial instruments
Basic financial assets, which include cash and bank balances, are initially measured 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.

Basic financial liabilities, including bank loans and other loans 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 payments discounted at a market rate of interest.

Taxation
Taxation for the period 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
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2021 - NIL).

JRT HOLDINGS LIMITED (REGISTERED NUMBER: 06383115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 SEPTEMBER 2021 TO 27 SEPTEMBER 2022


4. TANGIBLE FIXED ASSETS
Long Improvements
leasehold to
property property Totals
£    £    £   
COST
At 29 September 2021 1,850,000 - 1,850,000
Additions - 48,605 48,605
At 27 September 2022 1,850,000 48,605 1,898,605
NET BOOK VALUE
At 27 September 2022 1,850,000 48,605 1,898,605
At 28 September 2021 1,850,000 - 1,850,000

The company's long leasehold property was valued by the directors as at 27 September 2022 at open market value, with reference to a valuation undertaken by Lambert Smith Hampton, independent qualified chartered surveyors in January 2022.

If the revalued assets were stated on the historical cost basis, the amounts would be as follows :


20222021
££
At cost 1,505,3471,505,347
Valuation 344,653344,653
Net book value 1,850,0001,850,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 22,783 -
Other loans 12,830 25,200
Trade creditors 3,288 2,856
Other creditors 80,750 -
Directors' current accounts 667,585 673,585
Accruals and deferred income 3,000 2,280
790,236 703,921

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years 22,783 -
Bank loans - 2-5 years 64,750 -
Bank loans more than 5 years 819,707 911,123
Other loans - 1-2 years 12,830 109,775
Other loans - 2-5 years 38,490 -
Other loans 34,003 -
992,563 1,020,898

JRT HOLDINGS LIMITED (REGISTERED NUMBER: 06383115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 SEPTEMBER 2021 TO 27 SEPTEMBER 2022


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2022 2021
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 819,707 911,123
Other loans 34,003 -
853,710 911,123

7. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 930,023 911,123
Other loans 98,153 134,975
1,028,176 1,046,098

The bank loans are secured by a first legal mortgage and other loans are secured by a second legal charge over the land at Ewenny Industrial Estate, Waterton, Bridgend included in the company's balance sheet in long leasehold property.

8. RESERVES
Fair
value
reserve
£   
At 29 September 2021
and 27 September 2022 342,316

9. TRANSACTIONS WITH DIRECTORS

An aggregate balance of £667,585 (2021 - £673,585) was owing to the directors. No interest has been charged on the directors' current accounts during the current or prior year.

As per note 2 of the financial statements the company is reliant on the ongoing support of its directors.
The balances in Directors' current accounts creditors, are repayable on the basis that these amounts loaned to the company by the directors, would not be called for payment if it would adversely affect the ability of the company to continue trading as a going concern for the foreseeable future. Further details provided in note 2 to the financial statements.