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Registration number: 14166994

JHA Homes Limited

Unaudited Filleted Financial Statements

for the Period from 13 June 2022 to 30 June 2023

 

JHA Homes Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

JHA Homes Limited

Company Information

Directors

M A Mitchell

A C Mitchell

Registered office

59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

Accountants

Jacobs Allen Limited
Chartered Accountants and Chartered Tax Advisers
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

JHA Homes Limited

(Registration number: 14166994)
Balance Sheet as at 30 June 2023

Note

2023
£

Fixed assets

 

Investment property

4

976,378

Current assets

 

Debtors

5

9,654

Cash at bank and in hand

 

7,746

 

17,400

Creditors: Amounts falling due within one year

6

(343,517)

Net current liabilities

 

(326,117)

Total assets less current liabilities

 

650,261

Creditors: Amounts falling due after more than one year

6

(656,972)

Net liabilities

 

(6,711)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(6,811)

Shareholders' deficit

 

(6,711)

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.

Directors' 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 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 8 March 2024 and signed on its behalf by:
 

.........................................
M A Mitchell
Director

 

JHA Homes Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 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:
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

These financial statements were authorised for issue by the Board on 8 March 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.

Disclosure of long or short period

The accounting period for these financial statements are longer than twelve months due to this being the first period since incorporation.

Going concern

The balance sheet shows net liabilities of £6,711, this was expected as being the first period of trading. The directors have loaned the company £346,058 and will continue to support the company to meet its ongoing liabilities and expect to achieve profitability in the forseeable future. Therefore the financial statemenst have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the letting of property in the ordinary course of the company’s activities.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

JHA Homes Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 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 tenants for rent 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 receivables.

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.

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.

3

Staff numbers

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

4

Investment properties

2023
£

Additions

976,378

At 30 June

976,378

Investment properties are valued at their market value as estimated by the directors.

There has been no valuation of investment property by an independent valuer.

 

JHA Homes Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 2022 to 30 June 2023

5

Debtors

Current

2023
£

Trade debtors

1,950

Prepayments

7,704

 

9,654

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

1,560

Other creditors

341,957

343,517

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

656,972


Creditors include bank loans which are secured over the assets of the company of £656,972.

Creditors include bank loans not repayable by instalments of £656,972 due after more than five years.

7

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

100

100

   

During the period 100 ordinary shares were issued for the par value of £100.

 

JHA Homes Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 2022 to 30 June 2023

8

Loans and borrowings

Non-current loans and borrowings

2023
£

Bank borrowings

656,972

9

Related party transactions

Other transactions with directors

During the period the directors provided the company with interest free advances which are considered repayable on demand. The amounts owing to the directors was £341,957.

The directors have also provided a guarantee in respect of the bank loan.