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Registration number: 00998818

John Allen Homes Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

John Allen Homes Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 9

 

John Allen Homes Limited

(Registration number: 00998818)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

51,740

69,257

Investment property

5

625,000

625,000

Investments

6

291,450

291,450

 

968,190

985,707

Current assets

 

Debtors

7

541

715

Cash at bank and in hand

 

2,693

2,053

 

3,234

2,768

Creditors: Amounts falling due within one year

8

(361,888)

(360,671)

Net current liabilities

 

(358,654)

(357,903)

Total assets less current liabilities

 

609,536

627,804

Creditors: Amounts falling due after more than one year

8

(132,855)

(139,751)

Provisions for liabilities

(7,078)

(7,078)

Net assets

 

469,603

480,975

Capital and reserves

 

Called up share capital

1,002

1,002

Share premium reserve

144,500

144,500

Other reserves

30,175

30,175

Retained earnings

293,926

305,298

Shareholders' funds

 

469,603

480,975

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.

 

John Allen Homes Limited

(Registration number: 00998818)
Balance Sheet as at 31 December 2023

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 23 September 2024 and signed on its behalf by:
 

.........................................
D Reid
Director

 

John Allen Homes Limited

Notes to the 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 and Wales.

The address of its registered office is:
31 The Stoneworks
Neston
Corsham
Wiltshire
SN13 9ZE
England

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

John Allen Homes Limited

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

Tax

The tax expense for the period comprises 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

Nil

Fixtures, fittings and equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use 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.

 

John Allen Homes Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

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

 

John Allen Homes Limited

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

4

Tangible assets

Fixtures, fittings and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

20,926

80,615

101,541

At 31 December 2023

20,926

80,615

101,541

Depreciation

At 1 January 2023

12,130

20,154

32,284

Charge for the year

2,402

15,115

17,517

At 31 December 2023

14,532

35,269

49,801

Net book value

At 31 December 2023

6,394

45,346

51,740

At 31 December 2022

8,796

60,461

69,257

5

Investment properties

2023
£

At 1 January

625,000

At 31 December

625,000

There has been no valuation of investment property by an independent valuer.

 

John Allen Homes Limited

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

6

Investments

2023
£

2022
£

Investments in subsidiaries

291,450

291,450

Subsidiaries

£

Cost or valuation

At 1 January 2023

291,450

Provision

Carrying amount

At 31 December 2023

291,450

At 31 December 2022

291,450

7

Debtors

2023
£

2022
£

Trade debtors

-

180

Other debtors

-

23

Prepayments

541

512

541

715

 

John Allen Homes Limited

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

8

Creditors

Amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

9,315

7,935

Trade creditors

 

296

-

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

10

321,724

349,272

Taxation and social security

 

49

144

Accruals and deferred income

 

3,453

3,320

Other creditors

 

27,051

-

 

361,888

360,671

Amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

132,855

139,751

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

99,385

99,879

Other borrowings

33,470

39,872

132,855

139,751

Current loans and borrowings

2023
£

2022
£

Bank borrowings

2,912

2,912

Other borrowings

6,403

5,023

9,315

7,935

 

John Allen Homes Limited

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

10

Related party transactions

Summary of transactions with subsidiaries

Subsidiary company
The Company maintained an inter company loan account with a subsidiary during the year. The balance owed to the subsidiary at the year end was £321,724 (2022 - £349,272).