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Registration number: 08248959

JR Whowell Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 November 2022 to 30 June 2023

 

JR Whowell Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

JR Whowell Limited

Company Information

Director

J. R. Whowell

Company secretary

S. M. Whowell

Registered office

Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

JR Whowell Limited

(Registration number: 08248959)
Balance Sheet as at 30 June 2023

Note

30 June
2023
£

31 October
2022
£

Fixed assets

 

Intangible assets

4

285,088

1,241,262

Tangible assets

5

1,148

779

 

286,236

1,242,041

Current assets

 

Debtors

6

2,322,478

785,420

Investments

7

10,000

10,000

Cash at bank and in hand

 

1,561,759

15,765

 

3,894,237

811,185

Creditors: Amounts falling due within one year

8

(558,200)

(171,015)

Net current assets

 

3,336,037

640,170

Net assets

 

3,622,273

1,882,211

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

3,622,173

1,882,111

Shareholders' funds

 

3,622,273

1,882,211

 

JR Whowell Limited

(Registration number: 08248959)
Balance Sheet as at 30 June 2023

For the financial period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 February 2024
 

.........................................
J. R. Whowell
Director

 

JR Whowell Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 June 2023

1

General information

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

The address of its registered office is:
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

These financial statements were authorised for issue by the director on 8 February 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, 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.

 

JR Whowell Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 June 2023

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.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 20 years straight line

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.

 

JR Whowell Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 June 2023

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.

Trade 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 debtor.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

JR Whowell Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2022 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2022

1,650,937

1,650,937

Additions acquired separately

100,000

100,000

Disposals

(1,361,840)

(1,361,840)

At 30 June 2023

389,097

389,097

Amortisation

At 1 November 2022

409,675

409,675

Amortisation charge

12,970

12,970

Amortisation eliminated on disposals

(318,636)

(318,636)

At 30 June 2023

104,009

104,009

Carrying amount

At 30 June 2023

285,088

285,088

At 31 October 2022

1,241,262

1,241,262

 

JR Whowell Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 June 2023

5

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 November 2022

779

779

Additions

369

369

At 30 June 2023

1,148

1,148

Carrying amount

At 30 June 2023

1,148

1,148

At 31 October 2022

779

779

6

Debtors

Current

30 June
2023
£

31 October
2022
£

Trade debtors

1,172,223

785,420

Other debtors

1,150,255

-

 

2,322,478

785,420

7

Current asset investments

30 June
2023
£

31 October
2022
£

Other investments

10,000

10,000

 

JR Whowell Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 June 2023

8

Creditors

Creditors: amounts falling due within one year

30 June
2023
£

31 October
2022
£

Due within one year

Taxation and social security

558,200

169,992

Other creditors

-

1,023

558,200

171,015

9

Share capital

Allotted, called up and fully paid shares

 

30 June
2023

31 October
2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Related party transactions

Summary of transactions with other related parties

During the period the director and a close family member received dividends amounting to £92,250 (Year ended 31 October 2022 - £250,392).