Company Registration No. 11806988 (England and Wales)
JUSTICE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
Airport House (Suite 115)
Croydon
Surrey
United Kingdom
CR0 0XZ
JUSTICE HOLDINGS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
JUSTICE HOLDINGS LIMITED
COMPANY INFORMATION
- 1 -
Directors
L S J Hoefkens
J B Robertson
Company number
11806988
Registered office
The Tiding
18 Salterns Way
Lilliput
Poole
Dorset
United Kingdom
BH14 8JR
Accountants
TC Group
Airport House (Suite 115)
Croydon
Surrey
United Kingdom
CR0 0XZ
JUSTICE HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
530
895
Investments
5
10,603,244
10,562,744
10,603,774
10,563,639
Current assets
Debtors
6
768
83,716
Cash at bank and in hand
2,183
46,339
2,951
130,055
Creditors: amounts falling due within one year
7
(1,200)
(102,200)
Net current assets
1,751
27,855
Total assets less current liabilities
10,605,525
10,591,494
Creditors: amounts falling due after more than one year
8
(15,013,313)
(13,894,450)
Net liabilities
(4,407,788)
(3,302,956)
Capital and reserves
Called up share capital
55
55
Profit and loss reserves
(4,407,843)
(3,303,011)
Total equity
(4,407,788)
(3,302,956)
JUSTICE HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
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 19 July 2024 and are signed on its behalf by:
L S J Hoefkens
Director
Company Registration No. 11806988
The notes on pages 4 to 9 form part of these financial statements
JUSTICE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information
Justice Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Tiding, 18 Salterns Way, Lilliput, Poole, Dorset, United Kingdom, BH14 8JR.
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. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
These financial statements are for a period of 12 months whereas the comparative figures are for a period of 9 months. As a result, the prior period figures are not entirely comparable.
1.4
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
JUSTICE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.7
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.
1.8
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 balance sheet 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.
JUSTICE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.9
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.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are 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.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
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
JUSTICE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
4
Tangible fixed assets
Computers
£
Cost
At 1 January 2023 and 31 December 2023
1,108
Depreciation and impairment
At 1 January 2023
213
Depreciation charged in the year
365
At 31 December 2023
578
Carrying amount
At 31 December 2023
530
At 31 December 2022
895
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
2,329,630
2,329,630
Other investments in group undertakings
8,273,614
8,233,114
10,603,244
10,562,744
The fair value of the investments in subsidiary undertakings cannot be reliably measured so is held at cost less impairment losses. The directors do not believe any impairment is necessary.
JUSTICE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in group undertakings
Other investments in group undertakings
Total
£
£
£
Cost or valuation
At 1 January 2023
2,329,630
8,233,114
10,562,744
Additions
-
40,500
40,500
At 31 December 2023
2,329,630
8,273,614
10,603,244
Carrying amount
At 31 December 2023
2,329,630
8,273,614
10,603,244
At 31 December 2022
2,329,630
8,233,114
10,562,744
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
768
541
Other debtors
83,175
768
83,716
7
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,200
102,200
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
15,013,313
13,894,450
JUSTICE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
8
Creditors: amounts falling due after more than one year
(Continued)
- 9 -
Loans relate to non-recourse litigation funding. The amount repayable and due date for repayment is determined by the outcome of the associated litigation. Interest has been accrued using the directors' best estimates of the total and timing of amounts repayable under the facility. The directors cannot foresee any realistic scenario whereby loans will be repayable within one year of the balance sheet date.