Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30false2022-07-01No description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09088593 2022-07-01 2023-06-30 09088593 2021-07-01 2022-06-30 09088593 2023-06-30 09088593 2022-06-30 09088593 2021-07-01 09088593 6 2021-07-01 2022-06-30 09088593 d:Director1 2022-07-01 2023-06-30 09088593 d:Director2 2022-07-01 2023-06-30 09088593 e:CurrentFinancialInstruments 2023-06-30 09088593 e:CurrentFinancialInstruments 2022-06-30 09088593 e:Non-currentFinancialInstruments 2023-06-30 09088593 e:Non-currentFinancialInstruments 2022-06-30 09088593 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 09088593 e:CurrentFinancialInstruments e:WithinOneYear 2022-06-30 09088593 e:Non-currentFinancialInstruments e:AfterOneYear 2023-06-30 09088593 e:Non-currentFinancialInstruments e:AfterOneYear 2022-06-30 09088593 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-06-30 09088593 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-06-30 09088593 e:ShareCapital 2022-07-01 2023-06-30 09088593 e:ShareCapital 2023-06-30 09088593 e:ShareCapital 2021-07-01 2022-06-30 09088593 e:ShareCapital 2022-06-30 09088593 e:ShareCapital 2021-07-01 09088593 e:RevaluationReserve 2022-07-01 2023-06-30 09088593 e:RevaluationReserve 2023-06-30 09088593 e:RevaluationReserve 2021-07-01 2022-06-30 09088593 e:RevaluationReserve 2022-06-30 09088593 e:RevaluationReserve 2021-07-01 09088593 e:RevaluationReserve 6 2021-07-01 2022-06-30 09088593 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 09088593 e:RetainedEarningsAccumulatedLosses 2023-06-30 09088593 e:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 09088593 e:RetainedEarningsAccumulatedLosses 2022-06-30 09088593 e:RetainedEarningsAccumulatedLosses 2021-07-01 09088593 d:FRS102 2022-07-01 2023-06-30 09088593 d:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 09088593 d:FullAccounts 2022-07-01 2023-06-30 09088593 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09088593 e:AcceleratedTaxDepreciationDeferredTax 2023-06-30 09088593 e:AcceleratedTaxDepreciationDeferredTax 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 09088593










JCHMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
JCHMS LIMITED
REGISTERED NUMBER: 09088593

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
559,717
559,717

  
559,717
559,717

Current assets
  

Debtors: amounts falling due within one year
 5 
288
-

Cash at bank and in hand
  
12,456
15,502

  
12,744
15,502

Creditors: amounts falling due within one year
 6 
(178,327)
(180,667)

Net current liabilities
  
 
 
(165,583)
 
 
(165,165)

Total assets less current liabilities
  
394,134
394,552

Creditors: amounts falling due after more than one year
 7 
(142,924)
(165,717)

Provisions for liabilities
  

Deferred tax
 9 
(23,763)
(18,060)

  
 
 
(23,763)
 
 
(18,060)

Net assets
  
227,447
210,775


Capital and reserves
  

Called up share capital 
  
10
10

Revaluation reserve
 10 
106,053
106,053

Profit and loss account
 10 
121,384
104,712

  
227,447
210,775


Page 1

 
JCHMS LIMITED
REGISTERED NUMBER: 09088593
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 profit and loss account 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 by: 




J A Ford
S K Ford
Director
Director


Date: 16 February 2024

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
JCHMS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Investment Property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2022
10
106,053
104,712
210,775


Comprehensive income for the year

Profit for the year

-
-
18,672
18,672


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(2,000)
(2,000)


Total transactions with owners
-
-
(2,000)
(2,000)


At 30 June 2023
10
106,053
121,384
227,447


The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
JCHMS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 July 2021
10
26,053
100,996
127,059


Comprehensive income for the year

Profit for the year

-
-
7,716
7,716

Surplus on revaluation of leasehold property
-
80,000
-
80,000


Other comprehensive income for the year
-
80,000
-
80,000


Total comprehensive income for the year
-
80,000
7,716
87,716


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(4,000)
(4,000)


Total transactions with owners
-
-
(4,000)
(4,000)


At 30 June 2022
10
106,053
104,712
210,775


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

JCHMS Limited, (09088593), is a private company limited by shares. It is incorporated in England & Wales. the registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT. 

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

The Company only enters into basic financial instrument transactions that result inthe recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other
Page 6

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

third parties,loans to related parties and investments in ordinary shares.

 
2.8

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.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 7

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.12

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 reporting 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 reporting 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 reporting date.

 
2.13

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 0 (2022 - 0).

Page 8

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Investment property





Unlisted investments

£



Cost or valuation


At 1 July 2022
559,717



At 30 June 2023
559,717




Investment properties consist of two buildings; one residential and one commercial.  The directors believe that the residential value has not changed materially in value when compared to the prior year.  

Page 9

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Debtors

2023
2022
£
£


Prepayments and accrued income
288
-

288
-



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
23,893
24,576

Corporation tax
6,063
5,375

Other taxation and social security
1,080
1,376

Other creditors
145,100
147,103

Accruals and deferred income
2,191
2,237

178,327
180,667


Page 10

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
142,924
165,717

142,924
165,717


The company has entered into two separate loans with Lloyds bank.  
The first commenced in November 2020 and is repayable over 10 years.  Interest is payable at a rate of 2.95% over the Bank of England base rate.
The second commenced in November 2020 and is repayable over 7 years.  Interest is payable at a rate of 2.6% over the Bank of England base rate.

The following liabilities were secured:

2023
2022
£
£



Bank loan
142,923
164,272

142,923
164,272

Details of security provided:

The bank loans are secured by fixed charges held over the investment properties.

Page 11

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
23,893
24,576


23,893
24,576



Amounts falling due after more than 5 years

Bank loans
142,923
165,717

142,923
165,717

166,816
190,293


Page 12

 
JCHMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Deferred taxation




2023


£






At beginning of year
(18,060)


Charged to profit or loss
(5,703)



At end of year
(23,763)

2023
2022
£
£


Capital gain
(23,763)
(18,060)

(23,763)
(18,060)


10.


Reserves

Profit and loss account

This reserve represents the accumulated distributable reserves of the company.

Investment property reserve
This reserve represents the non-distributable element of the profit and loss account.  It is the accumulated gains and losses on the fair value adjustment of the investment property.

 
Page 13