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Registration number: 00469677

John Drury Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

John Drury Holdings Limited

Contents

Directors' Report

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

John Drury Holdings Limited

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

M R Drury

E J Drury

R A Drury

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

.........................................
E J Drury
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
John Drury Holdings Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of John Drury Holdings Limited for the year ended 31 December 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of John Drury Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 24 March 2021. Our work has been undertaken solely to prepare for your approval the accounts of John Drury Holdings Limited and state those matters that we have agreed to state to the Board of Directors of John Drury Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Drury Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that John Drury Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of John Drury Holdings Limited. You consider that John Drury Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of John Drury Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Watson Buckle Limited
Chartered Accountants
Bradford
  

10 September 2024

 

John Drury Holdings Limited

(Registration number: 00469677)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Investment property

4

 

2,075,000

 

2,075,000

Investments

5

 

2,000

 

2,000

   

2,077,000

 

2,077,000

Current assets

   

 

Debtors

6

2,203

 

15,581

 

Cash at bank and in hand

 

256,004

 

234,764

 

 

258,207

 

250,345

 

Creditors: Amounts falling due within one year

7

(84,047)

 

(83,838)

 

Net current assets

   

174,160

 

166,507

Total assets less current liabilities

   

2,251,160

 

2,243,507

Provisions for liabilities

 

(440,000)

 

(440,000)

Net assets

   

1,811,160

 

1,803,507

Capital and reserves

   

 

Called up share capital

9

20,000

 

20,000

 

Other reserves

1,567,811

 

1,567,811

 

Retained earnings

223,349

 

215,696

 

Shareholders' funds

   

1,811,160

 

1,803,507

 

John Drury Holdings Limited

(Registration number: 00469677)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

.........................................

E J Drury

Director

 

John Drury Holdings Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Soap Works
28 River Street
Brighouse
HD6 1NJ

These financial statements were authorised for issue by the Board on 10 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.

Group accounts not prepared

John Drury Holdings Limited is exempt from preparing group financial statements as the group is small.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of investment property.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

John Drury Holdings Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

John Drury Holdings Limited

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

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

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 receipts discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 4).

4

Investment properties

2023
£

At 1 January

2,075,000

At 31 December

2,075,000

The investment properties were valued on an open market basis by an independent valuer on 4th April 2023.
The directors are of the opinion that this would have been the fair value at the balance sheet date, as the market has not changed significantly between then and the date of the valuation.

5

Investments

2023
£

2022
£

Investments in subsidiaries

2,000

2,000

 

John Drury Holdings Limited

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

Subsidiaries

£

Cost or valuation

At 1 January 2023

2,000

At 31 December 2023

2,000

Carrying amount

At 31 December 2023

2,000

At 31 December 2022

2,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,287

14,662

Prepayments

916

781

Other debtors

-

138

 

2,203

15,581

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

55,545

74,993

Trade creditors

 

2,313

1,100

Amounts owed to group undertakings and undertakings in which the company has a participating interest

18,186

-

Taxation and social security

 

1,700

-

Accruals and deferred income

 

5,546

6,676

Other creditors

 

757

1,069

 

84,047

83,838

 

John Drury Holdings Limited

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

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

55,545

74,993

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

20,000

20,000

20,000

20,000