J M Butler Holdings Limited 04539541 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the receipt of rental income from investment property. Digita Accounts Production Advanced 6.30.9574.0 true 04539541 2023-01-01 2023-12-31 04539541 2023-12-31 04539541 core:RetainedEarningsAccumulatedLosses 2023-12-31 04539541 core:RevaluationReserve 2023-12-31 04539541 core:ShareCapital 2023-12-31 04539541 core:CurrentFinancialInstruments 2023-12-31 04539541 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04539541 core:Buildings 2023-12-31 04539541 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 04539541 bus:SmallEntities 2023-01-01 2023-12-31 04539541 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04539541 bus:FullAccounts 2023-01-01 2023-12-31 04539541 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04539541 bus:RegisteredOffice 2023-01-01 2023-12-31 04539541 bus:Director1 2023-01-01 2023-12-31 04539541 bus:Director2 2023-01-01 2023-12-31 04539541 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04539541 core:Buildings 2023-01-01 2023-12-31 04539541 core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 04539541 countries:EnglandWales 2023-01-01 2023-12-31 04539541 2022-12-31 04539541 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 04539541 2022-01-01 2022-12-31 04539541 2022-12-31 04539541 core:RetainedEarningsAccumulatedLosses 2022-12-31 04539541 core:RevaluationReserve 2022-12-31 04539541 core:ShareCapital 2022-12-31 04539541 core:CurrentFinancialInstruments 2022-12-31 04539541 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04539541 core:Buildings 2022-12-31 04539541 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 04539541

J M Butler Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

J M Butler Holdings Limited

(Registration number: 04539541)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

137,280

137,280

Current assets

 

Debtors

5

16

17

Cash at bank and in hand

 

1,584

6,622

 

1,600

6,639

Creditors: Amounts falling due within one year

6

(20,325)

(26,086)

Net current liabilities

 

(18,725)

(19,447)

Total assets less current liabilities

 

118,555

117,833

Provisions for liabilities

(2,577)

(2,577)

Net assets

 

115,978

115,256

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

41,175

41,175

Profit and loss account - distributable

74,703

73,981

Total equity

 

115,978

115,256

For the financial year ending 31 December 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 year 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 6 March 2024 and signed on its behalf by:
 

.........................................
Mr P Butler
Director

.........................................
Mr J Butler
Director

 
     
 

J M Butler Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Unit 1 Westfield House
Millfield Lane
Nether Poppleton
York
YO26 6GA

These financial statements were authorised for issue by the Board on 6 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.

Revenue recognition

Revenue represents rent received from investment property.

Income is recognised in accordance with the accounting period to the extent that the company obtains the right to consideration in exchange for use of the asset.

Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

J M Butler Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Investment property

Fair value impairment reviews

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from material changes in market value is transferred to a fair value reserve and is reflected in the profit and loss account.

The property has been previously owner-occupied however due to a cessation of the main trade the property is now fully let and is deemed an investment property. It was therefore reclassified in 2019. Depreciation is no longer charged on the value of the buildings (land was not depreciated) this is reversed back to the profit and loss account. A policy of annual impairment reviews has been adopted. Any changes to fair value are reflected in the profit and loss account.

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 customers for services performed 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

J M Butler Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

137,280

137,280

At 31 December 2023

137,280

137,280

Depreciation

Carrying amount

At 31 December 2023

137,280

137,280

At 31 December 2022

137,280

137,280

Included within the net book value of land and buildings above is £137,280 (2022 - £137,280) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's investment property was revalued on 31 December 2020. An independent valuer was not involved. The valuation was performed by the company's directors who have adequate market knowledge to perform a fair value assessment.

The freehold property was originally valued to market value following the completed development of the property by an independent surveyor. This had been undertaken in line with the guidance issued in UITF 5. A subsequent interim valuation has been carried out in 2011 which has resulted in no change being required to the value. Up to 2019 the property was an asset in use within the trade of the Company. It is now held as an investment property and as such will be revalued annually. This class of asset has a current value of £137,280 (2020 - £137,280).

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £93,528 (2022 - £93,528). Depreciation previously charged on the buildings has been reversed. Historic revaluation reserve to the date of re-classification remains.

5

Debtors

Current

2023
£

2022
£

Other debtors

16

17

 

J M Butler Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,045

925

Taxation and social security

1,143

2,459

Accruals and deferred income

3,603

1,918

Other creditors

14,534

20,784

20,325

26,086