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REGISTERED NUMBER: 06880956 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

J F HORNBY LIMITED
TRADING AS
J F HORNBY & CO

J F HORNBY LIMITED (REGISTERED NUMBER: 06880956)
TRADING AS J F HORNBY & CO






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


J F HORNBY LIMITED
TRADING AS J F HORNBY & CO

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J F Hornby
Mr P Hornby



REGISTERED OFFICE: The Tower
Daltongate Business Centre
Daltongate
Ulverston
Cumbria
LA12 7AJ



REGISTERED NUMBER: 06880956 (England and Wales)



ACCOUNTANTS: J F Hornby & Co
Chartered Accountants
The Tower
Daltongate Business Centre
Daltongate
Ulverston
Cumbria
LA12 7AJ



BANKERS: National Westminster Bank plc
113 Dalton Road
Barrow in Furness
Cumbria
LA14 1WY

J F HORNBY LIMITED (REGISTERED NUMBER: 06880956)
TRADING AS J F HORNBY & CO

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,111,520 995,703
Tangible assets 5 6,222 906
Investments 6 1,649,939 1,495,649
4,767,681 2,492,258

CURRENT ASSETS
Stocks 614,898 526,100
Debtors 747,710 543,343
Prepayments and accrued income 79,256 72,126
Cash at bank and in hand 126,343 81,375
1,568,207 1,222,944
CREDITORS
Amounts falling due within one year 343,586 191,751
NET CURRENT ASSETS 1,224,621 1,031,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,992,302

3,523,451

CAPITAL AND RESERVES
Called up share capital 8 8 8
Share premium 1,172,360 1,172,360
Revaluation reserve 2,115,817 -
Retained earnings 2,704,117 2,351,083
SHAREHOLDERS' FUNDS 5,992,302 3,523,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

J F HORNBY LIMITED (REGISTERED NUMBER: 06880956)
TRADING AS J F HORNBY & CO

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

All the members have consented to the preparation of an abridged Profit and Loss Account and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:




Mr J F Hornby - Director



Mr P Hornby - Director


J F HORNBY LIMITED (REGISTERED NUMBER: 06880956)
TRADING AS J F HORNBY & CO

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

J F Hornby Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 J F Hornby 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services as adjusted for work in progress and accrued income, excluding VAT.

Goodwill
Goodwill is not depreciated.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost
Computer equipment - 50% on cost

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

Stocks
Work in progress is valued at charging out rates.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

J F HORNBY LIMITED (REGISTERED NUMBER: 06880956)
TRADING AS J F HORNBY & CO

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2023 995,703
Revaluations 2,115,817
At 31 March 2024 3,111,520
NET BOOK VALUE

At 31 March 2024 3,111,520
At 31 March 2023 995,703

Goodwill has not been depreciated which is a departure from the Financial Reporting Standard 102 and from the Companies Act 2006. Depreciation if provided would not have been of a material nature.

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2024 2,115,817
Cost 995,703
3,111,520

If goodwill had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 995,703 -

Goodwill was valued on an open market basis on 31 March 2024 by the directors .

Intangible assets are initially measured at cost. After initial recognition intangible assets are measured at valuation less any accumulated amortisation and and accumulated impairment losses.

J F HORNBY LIMITED (REGISTERED NUMBER: 06880956)
TRADING AS J F HORNBY & CO

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 145,237
Additions 6,520
At 31 March 2024 151,757
DEPRECIATION
At 1 April 2023 144,331
Charge for year 1,204
At 31 March 2024 145,535
NET BOOK VALUE
At 31 March 2024 6,222
At 31 March 2023 906

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 2
NET BOOK VALUE
At 31 March 2024 2
At 31 March 2023 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

J F Hornby Group Limited
Registered office: The Tower, Daltongate Business Centre, Ulverston, Cumbria LA12 7AJ
Nature of business: Investment holding company
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 2 2
Information on loans is as follows:
Totals
£   
At 1 April 2023 1,495,647
Additions 154,290

J F HORNBY LIMITED (REGISTERED NUMBER: 06880956)
TRADING AS J F HORNBY & CO

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. FIXED ASSET INVESTMENTS - continued
At 31 March 2024 1,649,937

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 59,980 59,980
Between one and five years 246,049 246,049
In more than five years 28,720 28,720
334,749 334,749

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
3 A ordinary £1 3 3
3 B ordinary £1 3 3
1 C ordinary £1 1 1
1 D ordinary £1 1 1
8 8

The holders of the 'C' Ordinary shares and 'D' Ordinary shares are not be entitled to receive notice of, or attend, or vote at any general meeting of the company.

All classes of share rank pari passu with regard to entitlement to dividend except that the directors may at any time resolve to declare different dividends in relation to each class of share and may also resolve to declare a dividend on one or more classes of share and not another class or classes.

On a return of assets on liquidation, reduction of capital or otherwise, the surplus assets of the Company remaining after payment of its liabilities shall be applied:

(i) first in paying the holders of the 'A', 'B', 'C' and 'D' Ordinary shares an amount per share equal to the sum paid up or credited as paid up thereon
(ii) next and subject to (i) hereof, the balance of such assets shall belong to and be distributed amongst the holders of the 'A' and 'B' shares in proportion to the amounts paid up or credited as paid up thereon