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Jacob Thomas Enterprise Holdings Limited

Registration number : 07900556



















Annual Report and Unaudited Financial Statements

for the year ended 31 May 2023

 

Jacob Thomas Enterprise Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Jacob Thomas Enterprise Holdings Limited

Company Information

Directors

Mrs Joanne Edwards

Mr Carl Anthony Edwards

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Jacob Thomas Enterprise Holdings Limited

(Registration number: 07900556)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,941,931

1,940,236

Other financial assets

6

223,626

222,670

 

2,165,557

2,162,906

Current assets

 

Cash at bank and in hand

 

4,531

142

Creditors: Amounts falling due within one year

8

(229,121)

(121,577)

Net current liabilities

 

(224,590)

(121,435)

Total assets less current liabilities

 

1,940,967

2,041,471

Provisions for liabilities

(5,661)

(4,668)

Net assets

 

1,935,306

2,036,803

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,935,206

2,036,703

Total equity

 

1,935,306

2,036,803

For the financial year ending 31 May 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2024 and signed on its behalf by:
 

.........................................
Mrs Joanne Edwards
Director

   
     
 

Jacob Thomas Enterprise Holdings Limited

Notes to the Unaudited Financial Statements for the year ended 31 May 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:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the Board on 14 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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 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.

 

Jacob Thomas Enterprise Holdings Limited

Notes to the Unaudited Financial Statements for the year ended 31 May 2023

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

Office equipment

33% reducing balance & 33% straight line

Fixture Fittings & Equipment

25% reducing balance

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 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.

 

Jacob Thomas Enterprise Holdings Limited

Notes to the Unaudited Financial Statements for the year ended 31 May 2023

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.

3

Staff numbers

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

4

Taxation

Tax charged/(credited) in the income statement

2023
 £

2022
 £

Current taxation

UK corporation tax

-

3,851

UK corporation tax adjustment to prior periods

-

(107)

-

3,744

Deferred taxation

Arising from origination and reversal of timing differences

992

4,669

Tax expense in the income statement

992

8,413

 

Jacob Thomas Enterprise Holdings Limited

Notes to the Unaudited Financial Statements for the year ended 31 May 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

1,937,664

5,153

1,942,817

Additions

-

4,510

4,510

Disposals

-

(908)

(908)

At 31 May 2023

1,937,664

8,755

1,946,419

Depreciation

At 1 June 2022

-

2,581

2,581

Charge for the year

-

2,207

2,207

Eliminated on disposal

-

(300)

(300)

At 31 May 2023

-

4,488

4,488

Carrying amount

At 31 May 2023

1,937,664

4,267

1,941,931

At 31 May 2022

1,937,664

2,572

1,940,236

Included within the net book value of land and buildings above is £1,937,664 (2022 - £1,937,664) in respect of freehold land and buildings.
 

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2022

222,570

100

222,670

Fair value adjustments

956

-

956

At 31 May 2023

223,526

100

223,626

Impairment

Carrying amount

At 31 May 2023

223,526

100

223,626

 

Jacob Thomas Enterprise Holdings Limited

Notes to the Unaudited Financial Statements for the year ended 31 May 2023

7

Debtors

2023
£

2022
£

-

-

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

13,432

13,996

Taxation and social security

 

4,057

3,863

Accruals and deferred income

 

842

2,400

Other creditors

 

210,790

101,318

 

229,121

121,577

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

20,601

20,601

Contributions paid to money purchase schemes

9,000

59,460

29,601

80,061