Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31true2022-06-01falseOther letting and operating of own or leased real estate44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09163135 2022-06-01 2023-05-31 09163135 2021-06-01 2022-05-31 09163135 2023-05-31 09163135 2022-05-31 09163135 2021-06-01 09163135 c:Director1 2022-06-01 2023-05-31 09163135 d:Goodwill 2023-05-31 09163135 d:Goodwill 2022-05-31 09163135 d:CurrentFinancialInstruments 2023-05-31 09163135 d:CurrentFinancialInstruments 2022-05-31 09163135 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09163135 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 09163135 d:ShareCapital 2023-05-31 09163135 d:ShareCapital 2022-05-31 09163135 d:RetainedEarningsAccumulatedLosses 2023-05-31 09163135 d:RetainedEarningsAccumulatedLosses 2022-05-31 09163135 c:OrdinaryShareClass1 2022-06-01 2023-05-31 09163135 c:OrdinaryShareClass1 2023-05-31 09163135 c:OrdinaryShareClass1 2022-05-31 09163135 c:FRS102 2022-06-01 2023-05-31 09163135 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 09163135 c:FullAccounts 2022-06-01 2023-05-31 09163135 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09163135 d:OtherDeferredTax 2023-05-31 09163135 d:OtherDeferredTax 2022-05-31 09163135 e:PoundSterling 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09163135









JHB GROUND RENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
JHB GROUND RENTS LIMITED
REGISTERED NUMBER: 09163135

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,134,898
1,134,898

  
1,134,898
1,134,898

Current assets
  

Debtors: amounts falling due within one year
 5 
100,060
98,235

Cash at bank and in hand
 6 
407
9,871

  
100,467
108,106

Creditors: amounts falling due within one year
 7 
(2,100)
(2,100)

Net current assets
  
 
 
98,367
 
 
106,006

Total assets less current liabilities
  
1,233,265
1,240,904

Provisions for liabilities
  

Deferred tax
  
(206,079)
(206,079)

Net assets
  
1,027,186
1,034,825


Capital and reserves
  

Called up share capital 
 9 
500,000
500,000

Profit and loss account
  
527,186
534,825

  
1,027,186
1,034,825


Page 1

 
JHB GROUND RENTS LIMITED
REGISTERED NUMBER: 09163135
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf    on 21 March 2024.




H D Brewster
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
JHB GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

JHB Ground Rents Limited is a private company limited by shares and is incorporated in England and Wales. The registered office of the company is at Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, United Kingdom, DA2 6QA.
 The company's principal activity is that of estate development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover consists of ground rents receivable on freehold property interests and sale of freehold property. 

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
JHB GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible fixed assets consist of freehold ground rents and are stated at cost plus any subsequent revaluation.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result 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 ordinary shares.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 4

 
JHB GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Intangible assets




Freehold ground rents

£



Cost


At 1 June 2022
1,134,898



At 31 May 2023

1,134,898






Net book value



At 31 May 2023
1,134,898



At 31 May 2022
1,134,898


The 2021 valuations were made by the directors following a valuation made by South East Leasehold Chartered Surveyors in November 2020 on an investment value basis. 


Page 5

 
JHB GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
92,615
90,790

Prepayments and accrued income
7,445
7,445

100,060
98,235



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
407
9,871

407
9,871



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
2,100
2,100

2,100
2,100


Page 6

 
JHB GROUND RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
(206,079)
(206,079)



At end of year
(206,079)
(206,079)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of freehold ground rents
(206,079)
(206,079)

(206,079)
(206,079)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



500,000 (2022 - 500,000) Ordinary shares of £1.00 each
500,000
500,000



10.


Related party transactions

Included within debtors due within one year is a  balance due from Brewster Estates Limited, the parent company, amounting to £Nil (2022: £Nil).


11.


Controlling party

The company regards Brewster Estates Limited as its immediate and JHB Investments Limited as the ultimate parent company. There is no ultimate controlling party.

 
Page 7