Company registration number 06970939 (England and Wales)
JAKTO HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
JAKTO HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
2
Notes to the financial statements
3 - 7
JAKTO HOLDINGS LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -
2023
2022
£
£
Revenue
-
-
Administrative expenses
(126)
415
Other operating income
228,000
216,000
Operating profit
227,874
216,415
Investment income
40
-
0
Other gains and losses
-
500,000
Profit before taxation
227,914
716,415
Tax on profit
(52,445)
(237,370)
Profit for the financial year
175,469
479,045

The income statement has been prepared on the basis that all operations are continuing operations.

JAKTO HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Non-current assets
Investment property
4
2,300,000
2,300,000
Current assets
Trade and other receivables
5
3,365,973
3,667,890
Cash and cash equivalents
267,884
181,152
3,633,857
3,849,042
Current liabilities
6
(52,406)
(193,060)
Net current assets
3,581,451
3,655,982
Total assets less current liabilities
5,881,451
5,955,982
Provisions for liabilities
(421,879)
(421,879)
Net assets
5,459,572
5,534,103
Equity
Called up share capital
7
60
60
Share premium account
2,349,900
2,349,900
Capital redemption reserve
40
40
Other reserves
1,265,639
1,265,639
Retained earnings
1,843,933
1,918,464
Total equity
5,459,572
5,534,103

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
Mr A Hellewell
Director
Company registration number 06970939 (England and Wales)
JAKTO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Jakto Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Oaks Lane, Stairfoot, Barnsley, South Yorkshire, S71 1HT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Jakto Group Limited. These consolidated financial statements are available from its registered office, Oaks Business Park, Oaks Lane, Stairfoot, Barnsley, S71 1HT.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

JAKTO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

JAKTO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.8

Related party transactions

The company has taken advantage of the exemption under paragraph 33.1A of FRS 102 from providing details of related party transactions with group companies that are incorporated within the financial statements of the group.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Investment property
2023
£
Fair value
At 1 December 2022 and 30 November 2023
2,300,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in December 2021 by Knight Frank. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

JAKTO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
5
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
151,875
Amounts owed by group undertakings
3,365,973
3,066,015
Other receivables
-
0
450,000
3,365,973
3,667,890
6
Current liabilities
2023
2022
£
£
Corporation tax
52,406
192,994
Other payables
-
0
66
52,406
193,060
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
60
60
60
60
8
Parent company

At the year end Jakto Group Limited is the ultimate holding company owning 100% of the shares in Jakto Holdings Limited.

The ultimate controlling party is considered to be the directors Mr N Hellewell and Mr A Hellewell, who, together their spouses, own 100% of the shares in the holding company at the year end.

Jakto Holdings Limited is consolidated into the accounts of Jakto Group Limited.

Largest group
Jakto Group Limited
Smallest group
Jakto Group Limited
9
Post balance sheet event

After the year end Mr N Hellewell and his spouse sold their shares in Jakto Group Limited.

 

Following a group reorganisation Mr A Hellewell and his spouse, together with Mr J Hellewell combined, own 66.6% of the shares in the new ultimate holding company, The Hellewell Group Limited.

JAKTO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditors' report was unqualified.

Senior Statutory Auditor:
Victoria Jane Davies
Statutory Auditor:
GBAC Limited
Date of audit report:
14 August 2024
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