Caseware UK (AP4) 2023.0.135 2023.0.135 02023-01-01truetruetruefalse0truefalsefalse 00831972 2023-01-01 2023-12-31 00831972 2022-01-01 2022-12-31 00831972 2023-12-31 00831972 2022-12-31 00831972 2022-01-01 00831972 3 2023-01-01 2023-12-31 00831972 3 2022-01-01 2022-12-31 00831972 d:Exceptional 2023-01-01 2023-12-31 00831972 d:Exceptional 2022-01-01 2022-12-31 00831972 e:CompanySecretary1 2023-01-01 2023-12-31 00831972 e:Director1 2023-01-01 2023-12-31 00831972 e:Director2 2023-01-01 2023-12-31 00831972 e:Director3 2023-01-01 2023-12-31 00831972 e:RegisteredOffice 2023-01-01 2023-12-31 00831972 d:CurrentFinancialInstruments 2023-12-31 00831972 d:CurrentFinancialInstruments 2022-12-31 00831972 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00831972 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00831972 d:ReportableOperatingSegment3 2023-01-01 2023-12-31 00831972 d:ReportableOperatingSegment3 2022-01-01 2022-12-31 00831972 d:ShareCapital 2023-12-31 00831972 d:ShareCapital 2022-12-31 00831972 d:ShareCapital 2022-01-01 00831972 d:SharePremium 2023-01-01 2023-12-31 00831972 d:SharePremium 2023-12-31 00831972 d:SharePremium 2022-12-31 00831972 d:SharePremium 2022-01-01 00831972 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 00831972 d:CapitalRedemptionReserve 2023-12-31 00831972 d:CapitalRedemptionReserve 2022-12-31 00831972 d:CapitalRedemptionReserve 2022-01-01 00831972 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 00831972 d:RetainedEarningsAccumulatedLosses 2023-12-31 00831972 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 00831972 d:RetainedEarningsAccumulatedLosses 2022-12-31 00831972 d:RetainedEarningsAccumulatedLosses 2022-01-01 00831972 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 00831972 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 00831972 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2023-12-31 00831972 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2022-12-31 00831972 d:RetirementBenefitObligationsDeferredTax 2023-12-31 00831972 d:RetirementBenefitObligationsDeferredTax 2022-12-31 00831972 e:OrdinaryShareClass1 2023-01-01 2023-12-31 00831972 e:OrdinaryShareClass1 2023-12-31 00831972 e:OrdinaryShareClass1 2022-12-31 00831972 e:FRS102 2023-01-01 2023-12-31 00831972 e:Audited 2023-01-01 2023-12-31 00831972 e:FullAccounts 2023-01-01 2023-12-31 00831972 e:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00831972 d:Subsidiary1 2023-01-01 2023-12-31 00831972 d:Subsidiary1 1 2023-01-01 2023-12-31 00831972 d:Subsidiary2 2023-01-01 2023-12-31 00831972 d:Subsidiary2 1 2023-01-01 2023-12-31 00831972 d:Subsidiary3 2023-01-01 2023-12-31 00831972 d:Subsidiary3 1 2023-01-01 2023-12-31 00831972 d:Subsidiary4 2023-01-01 2023-12-31 00831972 d:Subsidiary4 1 2023-01-01 2023-12-31 00831972 d:Subsidiary5 2023-01-01 2023-12-31 00831972 d:Subsidiary5 1 2023-01-01 2023-12-31 00831972 d:Subsidiary6 2023-01-01 2023-12-31 00831972 d:Subsidiary6 1 2023-01-01 2023-12-31 00831972 d:Subsidiary7 2023-01-01 2023-12-31 00831972 d:Subsidiary7 1 2023-01-01 2023-12-31 00831972 d:Subsidiary8 2023-01-01 2023-12-31 00831972 d:Subsidiary8 1 2023-01-01 2023-12-31 00831972 4 2023-01-01 2023-12-31 00831972 6 2023-01-01 2023-12-31 00831972 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00831972










GEO.AKINS(HOLDINGS)LIMITED










Annual Report and Financial Statements

For the Year Ended 31 December 2023

 
GEO.AKINS(HOLDINGS)LIMITED
 

Company Information


Directors
GH Akins (Jnr) 
SPD Akins 
DP McDerment 




Company secretary
SPD Akins



Registered number
00831972



Registered office
2 Lace Market Square

Nottingham

NG1 1PB




Independent auditors
PKF Smith Cooper Audit Limited
Statutory Auditors

2 Lace Market Square

Nottingham

NG1 1PB





 
GEO.AKINS(HOLDINGS)LIMITED
 

Contents



Page
Strategic Report
1
Directors' Report
2 - 3
Independent Auditors' Report
4 - 7
Statement of Comprehensive Income
8
Balance Sheet
9
Statement of Changes in Equity
10
Notes to the Financial Statements
11 - 18


 
GEO.AKINS(HOLDINGS)LIMITED
 

Strategic Report
For the Year Ended 31 December 2023

Introduction
 
We aim to present a balanced and comprehensive review of the performance and development of the business during and at the end of the year, consistent with its size and complexity; and in the context of risks and uncertainties that we face. 
This is the holding company for the leisure group.

Business review
 
The company continues as a holding company for the leisure business and a more detailed review can be found in the DHP Family Ltd financial statements. 

Principal risks and uncertainties
 
Risks include those commercial in nature relating to the group's subsidiary businesses. Competitive pressure in the UK is a continuing risk for the group as well as changes in consumer taste, and the downturn in the national economic landscape. The group manages this risk by providing innovative solutions and outstanding quality.  

Financial key performance indicators
 
The profit before tax for the year is £2,168,558 (2022: £1,875,662).

Directors' statement of compliance with duty to promote the success of the company
 
Under section 172(1) of the Companies Act 2006, the directors have a duty to act in good faith and in a way that would be most likely to promote the success of the company for the benefit of its shareholder whilst having regard to matters set out in S172(1) (a-f) of the Act.
To discharge their section 172(1) duties, the directors have had regard to the factors set out in S172(1) (a-f) of the Act in making the principal decisions taken by the company.
The company is the parent of DHP Family Ltd, has no employees and is a micro entity when considered on a single entity basis. The directors consider that it is sufficient to disclose within DHP Family Limited and at a group level within the ultimate parent company accounts of SJC 15 Limited, details in regard to performing their duties under S172(1). 
All directors' decisions were made to promote the long term success of both the company and its ultimate parent company and were in line with the strategic goals and objectives of the group.


This report was approved by the board and signed on its behalf.



................................................
SPD Akins
Director

Date: 24 September 2024

Page 1

 
GEO.AKINS(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' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activity of the company during the year was that of a holding company for the leisure group.

Results and dividends

The profit for the year, after taxation, amounted to £2,037,927 (2022 - £1,875,662).

Directors

The directors who served during the year were:

GH Akins (Jnr) 
SPD Akins 
DP McDerment 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 2

 
GEO.AKINS(HOLDINGS)LIMITED
 

 
Directors' Report (continued)
For the Year Ended 31 December 2023

Post balance sheet events

There have been no significant events affecting the company since the year end.

Auditors

The auditorsPKF Smith Cooper Audit Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 24 September 2024 and signed on its behalf.
 





................................................
SPD Akins
Director

Page 3

 
GEO.AKINS(HOLDINGS)LIMITED
 

 
Independent Auditors' Report to the Members of GEO.AKINS(HOLDINGS)LIMITED
 

Opinion


We have audited the financial statements of GEO.AKINS(HOLDINGS)LIMITED (the 'company') for the year ended 31 December 2023, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 4

 
GEO.AKINS(HOLDINGS)LIMITED
 

 
Independent Auditors' Report to the Members of GEO.AKINS(HOLDINGS)LIMITED (continued)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
GEO.AKINS(HOLDINGS)LIMITED
 

 
Independent Auditors' Report to the Members of GEO.AKINS(HOLDINGS)LIMITED (continued)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we identify the key laws and regulations affecting the company. We identified that the principal risk of fraud or non-compliance with laws and regulations related to:
• management bias in respect of accounting estimates and judgements made;
•  management override of control;
•  posting of unusual journals or transactions.
We focussed on those areas that could give rise to a material misstatement in the company financial statements. Our procedures included, but were not limited to:
•  Enquiry of management and those charged with governance around actual and potential litigation and    claims, including instances of non-compliance with laws and regulations and fraud;
•  Reviewing minutes of meetings of those charged with governance where available;
•  Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations   and fraud;
•  Reviewing financial statement disclosures and testing to supporting documentation to assess compliance   with applicable laws and regulations;
•  Performing audit work over the risk of management override of controls, including testing of journal entries  and other adjustments for appropriateness, evaluating the business rationale of significant transactions    outside the normal course of business and reviewing accounting estimates for bias.
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 6

 
GEO.AKINS(HOLDINGS)LIMITED
 

 
Independent Auditors' Report to the Members of GEO.AKINS(HOLDINGS)LIMITED (continued)


Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Sarah Flear (Senior Statutory Auditor)
for and on behalf of
PKF Smith Cooper Audit Limited
Statutory Auditors
2 Lace Market Square
Nottingham
NG1 1PB

25 September 2024
Page 7

 
GEO.AKINS(HOLDINGS)LIMITED
 

Statement of Comprehensive Income
For the Year Ended 31 December 2023

2023
2022
Note
£
£

  

Turnover
 3 
-
15

Gross profit
  
-
15

Administrative expenses
  
(19,986)
(24,353)

Exceptional administrative expenses
 9 
(261,456)
-

Operating loss
  
(281,442)
(24,338)

Income from fixed assets investments
 6 
2,450,000
1,900,000

Profit before tax
  
2,168,558
1,875,662

Tax on profit
 7 
(130,631)
-

Profit for the financial year
  
2,037,927
1,875,662

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 11 to 18 form part of these financial statements.

Page 8

 
GEO.AKINS(HOLDINGS)LIMITED
Registered number: 00831972

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 10 
144,714
144,714

  
144,714
144,714

Current assets
  

Debtors: amounts falling due within one year
 11 
10,565,800
11,087,429

Cash at bank and in hand
 12 
11,778
2,216

  
10,577,578
11,089,645

Creditors: amounts falling due within one year
 13 
(3,238,198)
(4,138,192)

Net current assets
  
 
 
7,339,380
 
 
6,951,453

Total assets less current liabilities
  
7,484,094
7,096,167

  

Net assets
  
7,484,094
7,096,167


Capital and reserves
  

Called up share capital 
 16 
172,218
172,218

Share premium account
 17 
317,170
317,170

Capital redemption reserve
 17 
72,073
72,073

Profit and loss account
 17 
6,922,633
6,534,706

  
7,484,094
7,096,167


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
SPD Akins
Director

Date: 24 September 2024

The notes on pages 11 to 18 form part of these financial statements.

Page 9

 
GEO.AKINS(HOLDINGS)LIMITED
 

Statement of Changes in Equity
For the Year Ended 31 December 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2022
172,218
317,170
72,073
6,559,044
7,120,505



Profit for the year
-
-
-
1,875,662
1,875,662

Dividends: Equity capital
-
-
-
(1,900,000)
(1,900,000)



At 1 January 2023
172,218
317,170
72,073
6,534,706
7,096,167



Profit for the year
-
-
-
2,037,927
2,037,927

Dividends: Equity capital
-
-
-
(1,650,000)
(1,650,000)


At 31 December 2023
172,218
317,170
72,073
6,922,633
7,484,094


Page 10

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

1.Accounting policies

 
1.1

Basis of preparation of financial statements

Geo Akins (Holdings) Limited is a private company limited by shares and incorporated in England within the United Kingdom. The address of the registered office is given in the company information of these financial statements. The company's registration number is 00831972. The nature of the company’s operations and principal activities are a holding company for the leisure group.
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.  The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.  
The company is itself a subsidiary company and is exempt from the requirement to prepare group financial statements by virtue of section 400 of the Companies Act 2006. The financial statements therefore present information about the company as an individual undertaking and not about its group.
The financial statements are prepared in Sterling which is the functional currency of the company and have been rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
1.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of SJC 15 Limited as at 31 December 2023 and these financial statements may be obtained from 2 Lace Market Square, Nottingham, NG1 1PB.

 
1.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.4

Revenue

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 as the fair value of the consideration received or receivable. Revenue comprises rents and service charges receivable, exclusive of value added tax. Revenue is therefore recognised in line with the lease agreement, when rents and charges fall due.

Page 11

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

1.Accounting policies (continued)

 
1.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

 
1.7

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash in hand and short term deposits with an original maturity date of three months or less.

 
1.8

Short term debtors and creditors

Debtors and creditors with no stated interest rate or that are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other administrative expenses.

 
1.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 12

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

2.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of the estimation means that the actual outcomes could differ from those estimates. There are no significant judgments (apart from those involving estimates) which have had an effect on the amounts recognised in the financial statements.


3.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Rendering of services
-
15


All turnover arose within the United Kingdom.


4.


Auditors' remuneration

During the year, the company obtained the following services from the company's auditors and their associates:


2023
2022
£
£

Fees payable to the company's auditors and their associates for the audit of the company's financial statements
1,925
1,750

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.


5.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


6.


Income from investments

2023
2022
£
£





Dividends received from subsidiaries
2,450,000
1,900,000


Page 13

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

7.


Taxation


2023
2022
£
£



Total current tax
-
-

Deferred tax


Origination and reversal of timing differences
130,631
-


Taxation on profit on ordinary activities
130,631
-

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - lower than) the standard rate of corporation tax in the UK of 23.52% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
2,168,558
1,875,662


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.52% (2022 - 19%)
571,553
356,376

Effects of:


Remeasurement of deferred tax for changes in tax rates
7,729
-

Dividends from UK companies
(576,253)
(361,000)

Group relief
127,602
4,624

Total tax charge for the year
130,631
-


8.


Dividends

2023
2022
£
£


Ordinary shares dividends paid
1,650,000
1,900,000


9.


Exceptional items

2023
2022
£
£


Provision against connected party debt
261,456
-

Page 14

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

10.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
144,714



At 31 December 2023
144,714






Net book value



At 31 December 2023
144,714



At 31 December 2022
144,714


Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Principal activity

Class of shares

Holding

DHP Family Ltd
2 Lace Market Square, Nottingham, NG1 1PB
The operation of bars and nightclubs and the promotion of musical entertainment
Ordinary
100%
Victoria Club Limited
2 Lace Market Square, Nottingham, NG1 1PB
Dormant
Ordinary
100%
Jalland & Co. Limited
2 Lace Market Square, Nottingham, NG1 1PB
Non-trading
Ordinary
100%
Rock City Limited (indirectly held)
2 Lace Market Square, Nottingham, NG1 1PB
Dormant
Ordinary
100%
DHP Family Live Limited (indirectly held)
2 Lace Market Square, Nottingham, NG1 1PB
Dormant
Ordinary
100%
Spring Music Group Limited (indirectly held)
2 Lace Market Square, Nottingham, NG1 1PB
Non-trading
Ordinary
100%
Bearded Theory Ltd (indirectly held)
2 Lace Market Square, Nottingham, NG1 1PB
Non-trading
Ordinary
100%
Spring Markets Limited (indirectly held)
2 Lace Market Square, Nottingham, NG1 1PB
The operation of a music festival
Ordinary
100%

Page 15

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

11.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
10,335,723
10,335,723

Amounts owed by associated undertakings
80,000
471,456

Other debtors
785
327

Deferred taxation
149,292
279,923

10,565,800
11,087,429



12.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
11,778
2,216



13.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
2,636,499
3,013,999

Other creditors
597,167
1,119,693

Accruals and deferred income
4,532
4,500

3,238,198
4,138,192



14.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets that are debt instruments measured at amortised cost
10,416,508
10,807,506


Financial liabilities


Financial liabilities measured at amortised cost
(2,636,499)
(3,013,999)


Financial assets measured at amortised cost comprise trade debtors, amounts owed by group and associated undertakings and other debtors.


Financial liabilities measured at amortised cost comprise amounts owed to group undertakings.

Page 16

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

15.


Deferred taxation




2023


£






At beginning of year
279,923


Charged to profit or loss
(130,631)



At end of year
149,292

The deferred tax asset is made up as follows:

2023
2022
£
£


Other
149,292
279,923


16.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



1,722,180 (2022 - 1,722,180) Ordinary shares of £0.10 each
172,218
172,218



17.


Reserves

Share premium account

This reserve records the amount above the nominal value received for shares sold, less transactions costs.

Capital redemption reserve

This reserve records the amount by which the company's issued share capital diminished on the cancellation of shares redeemed.

Profit and loss account

This reserve records the retained earnings from the current and prior years.


18.


Transactions with directors

Included in other creditors due within one year are loans from directors, amounting to £597,167 (2022: £1,119,693).
During the year the company accrued interest of £Nil (2022: £Nil) in respect of these loans.

Page 17

 
GEO.AKINS(HOLDINGS)LIMITED
 

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

19.


Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 33.1A Related Party Disclosures from disclosing transactions with other members of the group.
The company has taken advantage of the exemption under FRS 102 Section 1.12 Reduced Disclosures For Subsidiaries from disclosing key management personnel compensation in total.
Included within debtors is an amount due from a company with directors in common of £80,000 (2022: £471,456) following receipts of £130,000 and a provision for doubtful debt of £261,456.


20.


Controlling party

The company's ultimate parent undertaking is SJC 15 Limited.
The largest group in which the results of the company are consolidated is SJC 15 Limited. Consolidated financial statements are available from 2 Lace Market Square, Nottingham, NG1 1PB.
The company is ultimately controlled by GH Akins (Jnr) and SPD Akins by virtue of their joint shareholding in SJC 15 Limited.


Page 18