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REGISTERED NUMBER: 06652426 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

HOWELLS & JOLLEY LIMITED

HOWELLS & JOLLEY LIMITED (REGISTERED NUMBER: 06652426)






Contents of the Financial Statements
for the Year Ended 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOWELLS & JOLLEY LIMITED

Company Information
for the Year Ended 31 OCTOBER 2023







DIRECTORS: W M Howells
B Jolley





REGISTERED OFFICE: 129/135 The Broadway
Thorpe Bay
Ees
SS1 3EX





REGISTERED NUMBER: 06652426 (England and Wales)





ACCOUNTANTS: Beke Lodge Business Consultants Limited
Beke Lodge
Beke Hall Chase North
Rayleigh
Essex
SS6 9EZ

HOWELLS & JOLLEY LIMITED (REGISTERED NUMBER: 06652426)

Balance Sheet
31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 224 224
225 225

CURRENT ASSETS
Stocks 6 54,302 54,051
Debtors 7 58,789 43,915
Cash at bank - 29,646
113,091 127,612
CREDITORS
Amounts falling due within one year 8 678,277 622,725
NET CURRENT LIABILITIES (565,186 ) (495,113 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(564,961

)

(494,888

)

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 373,473 373,473
Retained earnings (938,534 ) (868,461 )
SHAREHOLDERS' FUNDS (564,961 ) (494,888 )

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

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

HOWELLS & JOLLEY LIMITED (REGISTERED NUMBER: 06652426)

Balance Sheet - continued
31 OCTOBER 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 15 July 2024 and were signed on its behalf by:





W M Howells - Director


HOWELLS & JOLLEY LIMITED (REGISTERED NUMBER: 06652426)

Notes to the Financial Statements
for the Year Ended 31 OCTOBER 2023

1. STATUTORY INFORMATION

Howells & Jolley 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
The Goodwill brought forward from earlier years is the result of the acquisition of a business in 2009, together with a further NHS Pharmacy contract acquired during the year ended 31st October 2012.
Goodwill is amortised evenly over the estimated useful life of 10 years.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

HOWELLS & JOLLEY LIMITED (REGISTERED NUMBER: 06652426)

Notes to the Financial Statements - continued
for the Year Ended 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 320,077
AMORTISATION
At 1 November 2022
and 31 October 2023 320,076
NET BOOK VALUE
At 31 October 2023 1
At 31 October 2022 1

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 51,069 2,950 54,019
DEPRECIATION
At 1 November 2022
and 31 October 2023 50,925 2,870 53,795
NET BOOK VALUE
At 31 October 2023 144 80 224
At 31 October 2022 144 80 224

6. STOCKS
31/10/23 31/10/22
£    £   
Stocks 54,302 54,051

HOWELLS & JOLLEY LIMITED (REGISTERED NUMBER: 06652426)

Notes to the Financial Statements - continued
for the Year Ended 31 OCTOBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 51,890 38,996
VAT 5,649 4,919
Prepayments and accrued income 1,250 -
58,789 43,915

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 12,003 -
Trade creditors 61,569 58,874
Amounts owed to group undertakings 494,968 474,968
Social security and other taxes 3,904 2,800
Accrued expenses 105,833 86,083
678,277 622,725

9. SECURED DEBTS

The following secured debts are included within creditors:

31/10/23 31/10/22
£    £   
Amount owed to holding company 494,968 474,968

Secured by means of a debenture providing for fixed and floating charges over all assets of the Company

10. RELATED PARTY DISCLOSURES

On 1st April 2009 a working capital facility of a maximum of £155,000 for an initial period of two years from that date was provided by Howells and Harrison (Southend) Limited who may require repayment, in whole or in part, at any time whether before or after the initial period. The facility has been secured by way of a general equitable charge over all the company's assets. Under an agreed variation to the Loan Memorandum interest is payable annually in arrear on 31st March.
The total amount of the facility has been extended and outstanding at the Balance Sheet date was £494,968 (2022:£474,968). Interest has been waived for the period under review.

A general equitable charge exists over the B Ordinary shares in the company in favour of Howells & Harrison (Southend) Ltd in respect of monies advanced by that company to fund the purchase of those shares by Mr BER Jolley (a director of this company) and his wife, Mrs M Jolley.
The total amount of the advances outstanding at the Balance Sheet date was £187,720

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr WMJ Howells by virtue of his ownership of the entire share capital of Howells & Harrison (Southend) Ltd.