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REGISTERED NUMBER: 01174051 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

J & A Speakman Limited

J & A Speakman Limited (Registered number: 01174051)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J & A Speakman Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N C Speakman
D Cavanagh
A Griffiths





REGISTERED OFFICE: 33 Welbeck Street
London
W1G 8EX





REGISTERED NUMBER: 01174051 (England and Wales)





AUDITORS: Xeinadin Audit Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

J & A Speakman Limited (Registered number: 01174051)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,826,200 8,481,792
Investment property 5 3,576,683 3,831,613
12,402,883 12,313,405

CURRENT ASSETS
Stocks - 10,399
Debtors 6 58,398 145,078
Cash at bank 710,073 828,032
768,471 983,509
CREDITORS
Amounts falling due within one year 7 739,033 248,063
NET CURRENT ASSETS 29,438 735,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,432,321

13,048,851

PROVISIONS FOR LIABILITIES 2,258,700 2,410,800
NET ASSETS 10,173,621 10,638,051

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 5,450,479 5,717,127
Fair value reserve 2,436,011 2,626,941
Retained earnings 2,277,131 2,283,983
SHAREHOLDERS' FUNDS 10,173,621 10,638,051

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 26 April 2024 and were signed on its behalf by:





D Cavanagh - Director


J & A Speakman Limited (Registered number: 01174051)

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

1. STATUTORY INFORMATION

J & A Speakman 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.

These financial statements are presented in sterling and are rounded to the nearest £1.

The company is part of a group.

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.

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.

Revenue recognition
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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Tangible fixed assets
Tangible fixed assets comprise plant and machinery and freehold land.

Plant and machinery is initially measured at cost. After initial recognition, plant and machinery is measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at 15% on reducing balance, in order to write off each asset over its estimated useful life:

Freehold land is shown at fair value under the revaluation model. Gains are recognised in the statement of comprehensive income and subsequently transferred to the revaluation reserve. Deferred tax is provided on these gains at the rate expected to apply when the land is sold.

Investment property
Investment properties are included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Stock and work in progress
In the previous accounting period, stock was valued at the cost of production.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties and loans to related parties.


J & A Speakman Limited (Registered number: 01174051)

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

2. ACCOUNTING POLICIES - continued
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.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Going concern
The financial statements have been prepared on the going concern basis which assumes the continued support of the group. The directors have confirmed that this support will continue for at least 12 months from the date of approval of these financial statements and therefore believe that no adjustments relating to the company's ability to continue as a going concern need to be made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

J & A Speakman Limited (Registered number: 01174051)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 8,478,400 10,560 8,488,960
Additions 699,564 - 699,564
Revaluations (354,647 ) - (354,647 )
At 31 December 2023 8,823,317 10,560 8,833,877
DEPRECIATION
At 1 January 2023 - 7,168 7,168
Charge for year - 509 509
At 31 December 2023 - 7,677 7,677
NET BOOK VALUE
At 31 December 2023 8,823,317 2,883 8,826,200
At 31 December 2022 8,478,400 3,392 8,481,792

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 7,425,127 - 7,425,127
Valuation in 2023 (354,647 ) - (354,647 )
Cost 1,752,837 10,560 1,763,397
8,823,317 10,560 8,833,877

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

2023 2022
£    £   
Cost 1,752,837 1,053,273

Freehold land was valued at its market value on the assumption of full vacant possession on 31 December 2023 by Savills plc.

J & A Speakman Limited (Registered number: 01174051)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 3,831,613
Revaluations (254,930 )
At 31 December 2023 3,576,683
NET BOOK VALUE
At 31 December 2023 3,576,683
At 31 December 2022 3,831,613

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 3,328,940
Valuation in 2023 (254,930 )
Cost 502,673
3,576,683

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 502,673 502,673

Investment properties were valued at their market value on the assumption of full vacant possession on 31 December 2023 by Savills plc.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,962 21,516
Other debtors 45,436 123,562
58,398 145,078

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 30,555 3,171
Amounts owed to group undertakings 649,041 111,026
Taxation and social security - 26,640
Other creditors 59,437 107,226
739,033 248,063

J & A Speakman Limited (Registered number: 01174051)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrea Kaley (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent is LSL MHF Ltd and its ultimate parent is LSL MHF Cirrus Ltd, both of which are registered in England and Wales. The registered office of both parents is 33 Welbeck Street, London, W1G 8EX. There is no ultimate controlling party.