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Registration number: 14134760

Jackson Decorators Holdings Ltd

Unaudited Filleted Financial Statements

for the Period from 26 May 2022 to 31 July 2023

 

Jackson Decorators Holdings Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Jackson Decorators Holdings Ltd

(Registration number: 14134760)
Statement of Financial Position as at 31 July 2023

Note

2023
£

Fixed assets

 

Investments

4

1,940,594

Current assets

 

Debtors

5

232,369

Creditors: Amounts falling due within one year

6

(457,836)

Net current liabilities

 

(225,467)

Total assets less current liabilities

 

1,715,127

Creditors: Amounts falling due after more than one year

6

(922,500)

Net assets

 

792,627

Capital and reserves

 

Called up share capital

100

Share premium reserve

192,402

Profit and loss account

600,125

Shareholders' funds

 

792,627

For the financial period ending 31 July 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 21 February 2024 and signed on its behalf by:
 


Mrs A Ching
Director


Mr J N Ching
Director

 

Jackson Decorators Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 July 2023

1

General information

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

The address of its registered office is:
Offices
Colebrooke Court
Colebrooke Lane
Cullompton
Devon
EX15 1PD

Principal activity

The principal activity of the company is holding company.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

Jackson Decorators Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 July 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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.

Borrowings

 

Jackson Decorators Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 July 2023 (continued)

2

Accounting policies (continued)

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 statement of comprehensive income 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

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

4

Investments

2023
£

Investments in subsidiaries

1,940,594

Subsidiaries

£

Cost or valuation

Additions

1,940,594

Provision

Carrying amount

At 31 July 2023

1,940,594

 

Jackson Decorators Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 July 2023 (continued)

5

Debtors

Note

2023
£

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

232,367

Other debtors

 

2

 

232,369

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

455,961

Taxation and social security

 

75

Accruals and deferred income

 

1,800

 

457,836

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

922,500

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.