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REGISTERED NUMBER: 05088224 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

J.S. HELD UK LIMITED

PREVIOUSLY KNOWN AS
GPW + CO LIMITED

J.S. HELD UK LIMITED (REGISTERED NUMBER: 05088224)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J.S. HELD UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Mr P D Pender-Cudlip
Mr P Worman
Mr J Held
Mr S Katcher
S R Lieberman





SECRETARY: Mr S Katcher





REGISTERED OFFICE: 18 St. Swithins Lane
Second Floor
London
EC4N 8AD





REGISTERED NUMBER: 05088224 (England and Wales)





AUDITORS: Cube Partners Limited
Chartered Accountants and Registered Auditors
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

J.S. HELD UK LIMITED (REGISTERED NUMBER: 05088224)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,990 56,933
Investments 5 34,980 34,980
99,970 91,913

CURRENT ASSETS
Debtors 6 5,290,691 1,844,400
Cash at bank 685,714 303,881
5,976,405 2,148,281
CREDITORS
Amounts falling due within one year 7 4,064,697 2,198,706
NET CURRENT ASSETS/(LIABILITIES) 1,911,708 (50,425 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,011,678

41,488

PROVISIONS FOR LIABILITIES 6,899 8,442
NET ASSETS 2,004,779 33,046

CAPITAL AND RESERVES
Called up, fully paid share capital 4,401 4,401
Share premium 342 342
Capital redemption reserve 2,852 2,852
Retained earnings 1,997,184 25,451
2,004,779 33,046

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





S R Lieberman - Director


J.S. HELD UK LIMITED (REGISTERED NUMBER: 05088224)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

J.S. Held UK 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 (£).


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.

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:

Preparation of consolidated financial statements
The financial statements contain information about J.S. Held UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
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 addressed below.

(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Impairment of debtors
The Company makes an estimated provision of the recoverable value of trade debtors. This is done by providing for an estimated percentage of fee income of 0.55%.

(iii) Work in Progress
Recognised amounts of contract revenue and related work in progress reflect management's best estimate of each contract's outcome and stage of completion. This includes the assessment of profitability of ongoing contracts. For more complex contracts; in particular those that are ongoing and may expand as a consequence of our findings, the costs of completion and contract profitability are sometimes uncertain.

Revenue recognition
Revenue from rendering of services is recognised at the fair value of consideration received or receivable and represent amounts receivable for the services provided during the normal course of business.

Revenue from service contracts is recognised using the percentage of completion method, measured by the percentage of time incurred to the total estimated time for each contract. Contract cost include all direct professional services and those indirect costs related to contract performance. When estimates indicate a probable ultimate loss, the full amount of loss is accrued.

Revenue excludes value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Computer equipment - 25% on cost, 25% on reducing balance and 20% on cost
Fixture and fitting - 25% on cost

J.S. HELD UK LIMITED (REGISTERED NUMBER: 05088224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The Company only enters into basic financial instruments transactions that resulted in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence if impairment. If objective evidence of impairment is found, an impairment loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grant
Government grants relating to revenue expenditure are recognised as income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2021 - 21 ) .

J.S. HELD UK LIMITED (REGISTERED NUMBER: 05088224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS
Improvements Fixture
to Computer and
property equipment fitting Totals
£    £    £    £   
COST
At 1 January 2022 - 69,119 18,000 87,119
Additions 30,808 5,214 - 36,022
Reclassification/transfer - (2,738 ) 2,738 -
At 31 December 2022 30,808 71,595 20,738 123,141
DEPRECIATION
At 1 January 2022 - 28,686 1,500 30,186
Charge for year 1,764 23,691 2,510 27,965
Reclassification/transfer - (57 ) 57 -
At 31 December 2022 1,764 52,320 4,067 58,151
NET BOOK VALUE
At 31 December 2022 29,044 19,275 16,671 64,990
At 31 December 2021 - 40,433 16,500 56,933

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 34,979 1 34,980
NET BOOK VALUE
At 31 December 2022 34,979 1 34,980
At 31 December 2021 34,979 1 34,980

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 3,141,398 871,012
Amounts owed by group undertakings 176,824 251,098
Other debtors 1,972,469 722,290
5,290,691 1,844,400

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 34,439 161,092
Amounts owed to group undertakings 2,375,152 1,534,200
Taxation and social security 843,987 123,628
Other creditors 811,119 379,786
4,064,697 2,198,706

J.S. HELD UK LIMITED (REGISTERED NUMBER: 05088224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. LEASING AGREEMENTS

At the balance sheet date the company was committed to making payments of £66,750 (2021 - £81.148) under non cancellable operating leases.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Jones ACA (Senior Statutory Auditor)
for and on behalf of Cube Partners Limited

10. CONTROLLING PARTY

The immediate parent is J.S. Held IH LLC, a company incorporated in the United States of America.

At the balance sheet date, the ultimate controlling party was Jonathon Held.

The smallest and largest company in which the company's results are consolidated is J.S. Held Holdings LLC, a company incorporated in the United States of America. Their registered office is 50 Jericho Quadrangle, Suite 117, Jericho, NY, 11753.