2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-30 Sage Accounts Production Advanced 2023 - FRS102_2023 639,336 141,628 780,964 780,964 639,336 7,082,400 100 7,082,300 7,082,300 7,082,400 xbrli:pure xbrli:shares iso4217:GBP 03717546 2023-03-30 2024-03-29 03717546 2024-03-29 03717546 2023-03-29 03717546 2022-04-01 2023-03-29 03717546 2023-03-29 03717546 2022-03-31 03717546 bus:Director1 2023-03-30 2024-03-29 03717546 core:WithinOneYear 2024-03-29 03717546 core:WithinOneYear 2023-03-29 03717546 core:AfterOneYear 2024-03-29 03717546 core:AfterOneYear 2023-03-29 03717546 core:ShareCapital 2024-03-29 03717546 core:ShareCapital 2023-03-29 03717546 core:RetainedEarningsAccumulatedLosses 2024-03-29 03717546 core:RetainedEarningsAccumulatedLosses 2023-03-29 03717546 core:CostValuation core:Non-currentFinancialInstruments 2023-03-29 03717546 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-03-29 03717546 core:CostValuation core:Non-currentFinancialInstruments 2024-03-29 03717546 core:Non-currentFinancialInstruments 2024-03-29 03717546 core:Non-currentFinancialInstruments 2023-03-29 03717546 bus:SmallEntities 2023-03-30 2024-03-29 03717546 bus:AuditExemptWithAccountantsReport 2023-03-30 2024-03-29 03717546 bus:SmallCompaniesRegimeForAccounts 2023-03-30 2024-03-29 03717546 bus:PrivateLimitedCompanyLtd 2023-03-30 2024-03-29 03717546 bus:FullAccounts 2023-03-30 2024-03-29 03717546 core:InvestmentPropertyIncludedWithinPPE 2023-03-29 03717546 core:InvestmentPropertyIncludedWithinPPE 2023-03-30 2024-03-29 03717546 core:InvestmentPropertyIncludedWithinPPE 2024-03-29 03717546 core:AfterOneYear 2023-03-30 2024-03-29
COMPANY REGISTRATION NUMBER: 03717546
James & Graven Limited
Unaudited financial statements
29 March 2024
James & Graven Limited
Statement of financial position
29 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
780,964
639,336
Investments
6
7,082,300
7,082,400
-----------
-----------
7,863,264
7,721,736
Current assets
Debtors
7
145,306
Creditors: Amounts falling due within one year
8
( 1,292,596)
( 1,241,936)
-----------
-----------
Net current liabilities
( 1,292,596)
( 1,096,630)
-----------
-----------
Total assets less current liabilities
6,570,668
6,625,106
Creditors: Amounts falling due after more than one year
9
( 4,312,062)
( 4,206,476)
Provisions
Taxation including deferred tax
( 14,530)
-----------
-----------
Net assets
2,244,076
2,418,630
-----------
-----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,243,976
2,418,530
-----------
-----------
Shareholders funds
2,244,076
2,418,630
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
James & Graven Limited
Statement of financial position (continued)
29 March 2024
These financial statements were approved by the board of directors and authorised for issue on 1 August 2024 , and are signed on behalf of the board by:
J M James
Director
Company registration number: 03717546
James & Graven Limited
Notes to the financial statements
Year ended 29 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hazel Court, Midland Way, Barlborough, Chesterfield, Derbyshire, S43 4FD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of employees during the year was 2 (2023: 2 ).
5. Tangible assets
Investment Property
£
Cost
At 30 March 2023
639,336
Additions
141,628
---------
At 29 March 2024
780,964
---------
Depreciation
At 30 March 2023 and 29 March 2024
---------
Carrying amount
At 29 March 2024
780,964
---------
At 29 March 2023
639,336
---------
The property value is the market value as considered by the directors at 29 March 2024.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment Property
£
At 29 March 2024
Aggregate cost
780,964
Aggregate depreciation
---------
Carrying value
780,964
---------
At 29 March 2023
Aggregate cost
639,336
Aggregate depreciation
---------
Carrying value
639,336
---------
6. Investments
Shares in group undertakings
£
Cost
At 30 March 2023
7,082,400
Disposals
( 100)
-----------
At 29 March 2024
7,082,300
-----------
Impairment
At 30 March 2023 and 29 March 2024
-----------
Carrying amount
At 29 March 2024
7,082,300
-----------
At 29 March 2023
7,082,400
-----------
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
912
Other debtors
144,394
----
---------
145,306
----
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
671,126
782,872
Trade creditors
159,848
739
Amounts owed to group undertakings and undertakings in which the company has a participating interest
455,400
455,500
Social security and other taxes
3,282
Other creditors
2,940
2,825
-----------
-----------
1,292,596
1,241,936
-----------
-----------
The bank overdraft is secured by a fixed and floating charge over all property and assets present and future. The bank loans of £369,814 (2023: £520,313) are secured by an unlimited cross guarantee with the company's subsidiary undertakings.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,450,187
2,820,001
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,861,875
1,386,475
-----------
-----------
4,312,062
4,206,476
-----------
-----------
The bank loans of £2,450,187 (2023: £2,820,001) are secured by an unlimited cross guarantee with the company's subsidiary undertakings.
10. Cross company guarantee
The company is party to an omnibus guarantee that guarantees the bank borrowings of fellow group borrowings and the bank borrowings of James Convenience Retail Limited, an entity under common control. At 31 March 2024 the bank borrowings covered by this guarantee totalled £7,790,305 (2023: £5,827,040).