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REGISTERED NUMBER: 11009861 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

JOHNS' YARD LIMITED

JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,128 481
Investments 5 709 709
Investment property 6 23,286,189 9,325,000
23,295,026 9,326,190

CURRENT ASSETS
Debtors 7 974,696 1,052,011
Cash at bank 278,657 31,732
1,253,353 1,083,743
CREDITORS
Amounts falling due within one year 8 1,416,834 1,019,668
NET CURRENT (LIABILITIES)/ASSETS (163,481 ) 64,075
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,131,545

9,390,265

CREDITORS
Amounts falling due after more than one
year

9

(9,000,000

)

(3,769,500

)

PROVISIONS FOR LIABILITIES (1,361,988 ) (123,343 )
NET ASSETS 12,769,557 5,497,422

CAPITAL AND RESERVES
Called up share capital 12 3,240,710 3,240,710
Share premium 13 1,571,400 1,571,400
Non-distributable reserves 13 5,680,298 525,444
Retained earnings 13 2,277,149 159,868
SHAREHOLDERS' FUNDS 12,769,557 5,497,422

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2023 and were signed on its behalf by:





J A Blake - Director


JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Johns' Yard Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11009861

Registered office: Ratoath House
Hazelwood Close
Storrington
West Sussex
RH20 3HX

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Johns' Yard 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, 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.
Fixtures and fittings - 20% on cost

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022 915
Additions 9,787
At 31 March 2023 10,702
DEPRECIATION
At 1 April 2022 434
Charge for year 2,140
At 31 March 2023 2,574
NET BOOK VALUE
At 31 March 2023 8,128
At 31 March 2022 481

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 709
NET BOOK VALUE
At 31 March 2023 709
At 31 March 2022 709

JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS - continued

The Company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Johns' Yard 2 Limited
Registered office: Ratoath House, Hazelwood Close, Storrington, West Sussex, RH20 3HX, England
Nature of business: Letting of investment properties
%
Class of shares: holding
Ordinary 100.00

ASA Consortium Limited
Registered office: Ratoath House, Hazelwood Close, Storrington, West Sussex, RH20 3HX, England
Nature of business: Letting of investment properties
%
Class of shares: holding
Ordinary 100.00

Sussex Property Investments Limited
Registered office: 100 North Road, Brighton, East Sussex, BN1 1YE, England
Nature of business: Letting of investment properties
%
Class of shares: holding
Ordinary A 100.00
Ordinary B 100.00

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 9,325,000
Additions 7,567,737
Revaluations 6,613,452
Impairments (220,000 )
At 31 March 2023 23,286,189
NET BOOK VALUE
At 31 March 2023 23,286,189
At 31 March 2022 9,325,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2023 by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 23,286,189

JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. INVESTMENT PROPERTY - continued

Included in additions for the year, £6,641,247 were in respect of investment properties transferred at cost on 25 January 2023, being £3,418,030 from ASA Consortium Limited and £3,223,217 from Sussex Property Investments Limited, two subsidiaries, and these were subsequently revalued by £6,613,452 as at 31 March 2023, as more fully described in note 15 as part of the group's reorganisation.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 951,410 998,766
Other debtors 23,286 53,245
974,696 1,052,011

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) - 40,000
Amounts owed to group undertakings - 2,328
Taxation and social security 40,706 51,990
Other creditors 1,376,128 925,350
1,416,834 1,019,668

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 9,000,000 3,769,500

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 9,000,000 3,609,500

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 40,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 40,000

JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 120,000

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 9,000,000 3,609,500

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 9,000,000 3,809,500

The bank loans are secured by charges over the assets of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,240,002 Ordinary £1 3,240,002 3,240,002
2,957,168 Ordinary A 0.003 3816 100 100
4,310 Ordinary B 0.046 3922 2 2
1,306,254 Ordinary D 0.046 3922 606 606
3,240,710 3,240,710

13. RESERVES
Retained Share Non-distributable
earnings premium reserves Totals
£    £    £    £   

At 1 April 2022 159,868 1,571,400 525,444 2,256,712
Profit for the year 7,272,135 7,272,135
Transfers (5,154,854 ) - 5,154,854 -
At 31 March 2023 2,277,149 1,571,400 5,680,298 9,528,847

Non-distributable reserves represent cumulative unrealised fair value movements on investment properties net of provisions for deferred taxation.

Transfers between retained earnings and non-distributable reserves represent the unrealised fair value movements on investment properties net of provisions for deferred taxation in the current year.

JOHNS' YARD LIMITED (REGISTERED NUMBER: 11009861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


14. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

20232022
£   £   
Amounts owed by/(to) J A Blake (Director)(639,397)(500,761)
Amounts owed by/(to) J Eager (Director)(535,818)(401,361)

Amounts owed by/(to) ASA Consortium Limited (Group Undertaking)-(2,328)
Amounts owed by/(to) Johns' Yard 2 Limited (Group Undertaking)951,410998,766
Amounts owed by/(to) Sussex Property Investments Limited (Group
Undertaking)

-

-

Management fees paid to connected undertakings17,457
Interests paid to directors48,000

Connected Undertakings:
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

Interests paid to directors:
The directors received £24,000 each from the company by way of interest on their directors' accounts.

Group reorganisation:
On 25 January 2023, ASA Consortium Limited, a subsidiary, transferred all its investment properties at cost of £3,418,030 (having a market value of £7,615,000) and Sussex Property Investments Limited, a subsidiary, transferred all its investment properties at cost of £3,223,217 (having a market value of £5,639,699) to Johns' Yard Limited (being their holding company). These properties were subsequently revalued at 31 March 2023, thereby reflecting the non-distributable reserves within the group.

These transfers were carried out as part of the group's reorganisation during the year whereby the investment properties in both of the above subsidiaries are now all directly owned by Johns' Yard Limited (the holding company), which has taken over all other assets and liabilities relating to those subsidiaries as at 31 March 2023, at which date, the intercompany balances, owing to ASA Consortium Limited £1,370,622 and owing to Sussex Property Investments Limited £808,346, were written off.