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REGISTERED NUMBER: 01977119 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JUNCTION ELEVEN LIMITED

JUNCTION ELEVEN LIMITED (REGISTERED NUMBER: 01977119)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JUNCTION ELEVEN LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: W.E. Husselby
M.S. Husselby





REGISTERED OFFICE: The Fold
Spencer Street
Royal Leamington Spa
Warwickshire
CV31 3NE





REGISTERED NUMBER: 01977119 (England and Wales)





AUDITORS: Dafferns LLP
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

JUNCTION ELEVEN LIMITED (REGISTERED NUMBER: 01977119)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,166 7,471

CURRENT ASSETS
Debtors 6 173,913 220,320
Cash in hand - 300
173,913 220,620
CREDITORS
Amounts falling due within one year 7 675,850 659,469
NET CURRENT LIABILITIES (501,937 ) (438,849 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(496,771

)

(431,378

)

CREDITORS
Amounts falling due after more than one
year

8

-

2,618
NET LIABILITIES (496,771 ) (433,996 )

CAPITAL AND RESERVES
Called up share capital 9 125 125
Retained earnings (496,896 ) (434,121 )
SHAREHOLDERS' FUNDS (496,771 ) (433,996 )

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





M.S. Husselby - Director


JUNCTION ELEVEN LIMITED (REGISTERED NUMBER: 01977119)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Junction Eleven Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation
The financial statements have been prepared under the historical cost convention.

Going concern
These financial statements have been prepared on the basis that the company will continue trading as a going concern.

The Cogent group has confirmed that it will continue to provide the company with sufficient financial support and working capital to fund the losses and enable the company to meet its ongoing liabilities as they fall due.

The directors consider that the going concern basis of accounting remains appropriate.

Turnover
Turnover represents the fair value of services provided during the year on client assignments. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on the time spent, skills and expertise provided and expenses incurred. Turnover excludes Value Added Tax.

Unbilled turnover on individual client assignments is included as accrued income within debtors.

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the Statement of Comprehensive Income in the period in which they are incurred.

Depreciation is provided on the cost of tangible assets in equal annual instalments over their estimated useful lives, which are as follows :

Short leasehold property - 5 - 10 years relative to the life of the lease
Fixtures and equipment- Between 3 and 5 years

Any gains and losses on the disposal of tangible fixed assets are recognised in the Statement of Comprehensive Income in the year that the disposal takes place.

JUNCTION ELEVEN LIMITED (REGISTERED NUMBER: 01977119)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments in debtors and creditors with no stated interest rate, and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Statement of Comprehensive Income in the period to which they relate. A defined contribution plan is a pension scheme under which the company pays fixed contributions into an independently administered fund and has no further obligations once the contributions have been paid.

Leases
Rentals payable under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 18 ) .

JUNCTION ELEVEN LIMITED (REGISTERED NUMBER: 01977119)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 January 2023 408,934 209,166 618,100
Additions - 602 602
Disposals - (39,292 ) (39,292 )
At 31 December 2023 408,934 170,476 579,410
DEPRECIATION
At 1 January 2023 407,496 203,133 610,629
Charge for year 426 2,481 2,907
Eliminated on disposal - (39,292 ) (39,292 )
At 31 December 2023 407,922 166,322 574,244
NET BOOK VALUE
At 31 December 2023 1,012 4,154 5,166
At 31 December 2022 1,438 6,033 7,471

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 124,908 91,797
Amounts owed by group undertakings 703 100
Accrued income 15,400 91,156
Prepayments 32,902 37,267
173,913 220,320

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 100,348 328,807
Trade creditors 56,559 57,871
Amounts owed to group undertakings 470,829 232,854
VAT 27,151 33,840
Accruals 20,963 6,097
675,850 659,469

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
VAT - 2,618

JUNCTION ELEVEN LIMITED (REGISTERED NUMBER: 01977119)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
2,500 Incentive 1p 25 25
125 125

Incentive shares have no voting rights.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Gibbs FCCA (Senior Statutory Auditor)
for and on behalf of Dafferns LLP

11. CONTINGENT LIABILITIES

The company has guaranteed borrowings of fellow subsidiaries amounting to £1,472,421 (2022: £985,240) and has entered into a group overdraft facility which is secured by a fixed and floating charge over all assets of the company.

12. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet, amount to £256,479 (2022: £321,816)

13. ULTIMATE PARENT COMPANY

The Company is a wholly-owned subsidiary of Cogent Elliott Group Limited (CEGL), which is its
ultimate parent company.

The registered office and principal place of business of CEGL is The Fold, Spencer Street, Royal Leamington Spa, Warwickshire, CV31 3NE, from which group accounts can be obtained.

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.