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Registration number: 09542655

J & B Holdings (Midlands) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

J & B Holdings (Midlands) Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

J & B Holdings (Midlands) Ltd

Company Information

Directors

Mr Andrew John Bailey

Mr Philip Thomas Jefferies

Registered office

Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Limited
 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

J & B Holdings (Midlands) Ltd

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:

Mr Andrew John Bailey

Mr Philip Thomas Jefferies

Principal activity

The principal activity of the company is that of a holding company.

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 by the Board on 25 September 2024 and signed on its behalf by:

.........................................
Mr Andrew John Bailey
Director

.........................................
Mr Philip Thomas Jefferies
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
J & B Holdings (Midlands) Ltd
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 J & B Holdings (Midlands) Ltd for the year ended 31 December 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of J & B Holdings (Midlands) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of J & B Holdings (Midlands) Ltd and state those matters that we have agreed to state to the Board of Directors of J & B Holdings (Midlands) Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J & B Holdings (Midlands) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J & B Holdings (Midlands) Ltd 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 J & B Holdings (Midlands) Ltd. You consider that J & B Holdings (Midlands) Ltd 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 J & B Holdings (Midlands) Ltd. 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.

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

Pattinsons Business Services Limited
 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

25 September 2024

 

J & B Holdings (Midlands) Ltd

(Registration number: 09542655)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

11,577

11,754

Current assets

 

Debtors

5

146,563

153,901

Cash at bank and in hand

 

60,292

101,120

 

206,855

255,021

Creditors: Amounts falling due within one year

6

(27,279)

(30,546)

Net current assets

 

179,576

224,475

Net assets

 

191,153

236,229

Capital and reserves

 

Called up share capital

7

102

102

Retained earnings

191,051

236,127

Shareholders' funds

 

191,153

236,229

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.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
Mr Andrew John Bailey
Director

.........................................
Mr Philip Thomas Jefferies
Director

 

J & B Holdings (Midlands) Ltd

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 and Wales.

The address of its registered office is:
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

These financial statements were authorised for issue by the Board on 25 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 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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

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 income 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.

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.

 

J & B Holdings (Midlands) Ltd

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

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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

J & B Holdings (Midlands) Ltd

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

11,577

11,754

Subsidiaries

£

Cost or valuation

At 1 January 2023

11,754

Revaluation

(177)

At 31 December 2023

11,577

Provision

Carrying amount

At 31 December 2023

11,577

At 31 December 2022

11,754

5

Debtors

Note

2023
£

2022
£

Amounts owed by subsidiary undertakings

9

52,374

58,786

Prepayments

 

75

67

Other debtors

 

94,114

95,048

 

146,563

153,901

 

J & B Holdings (Midlands) Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

180

96

Taxation and social security

 

25,008

27,477

Other creditors

 

2,091

2,973

 

27,279

30,546

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

Ordinary A Shares of £1 each

2

2

2

2

102

102

102

102

8

Reserves

Distributable and non-distributable reserves

2023
£

2022
 £

Non-distributable reserves

11,577

11,754

Distributable reserves

179,474

224,373

191,051

236,127

 

J & B Holdings (Midlands) Ltd

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

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Loan to director 1

3,983

53,923

(58,417)

(511)

Loan to director 2

(2,106)

56,299

(54,704)

(511)

1,877

110,222

(113,121)

(1,022)

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Loan to director 1

63,506

54,087

(113,610)

3,983

Loan to director 2

59,167

68,678

(129,951)

(2,106)

122,673

122,765

(243,561)

1,877

 

Interest has been charges at HMRC's beneficial loan interest rates on balances in excess of £10,000. The loan is repayable on demand.


Related party exemption
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 entities within the group.