REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
P & A JENNINGS HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
P & A JENNINGS HOLDINGS LIMITED |
P & A JENNINGS HOLDINGS LIMITED (REGISTERED NUMBER: 04578708) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
P & A JENNINGS HOLDINGS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
P & A JENNINGS HOLDINGS LIMITED (REGISTERED NUMBER: 04578708) |
STATEMENT OF FINANCIAL POSITION |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 1 | 1 |
Fair value reserve | 7 | 40,000 | 10,000 |
Retained earnings | 7 | 50,442 | 44,145 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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 |
P & A JENNINGS HOLDINGS LIMITED (REGISTERED NUMBER: 04578708) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
P & A Jennings Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The disclosure requirements of section 1a of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The principal accounting policies adopted in the preparation of the financial statements are set out below. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost. Subsequently investment properties are measured at fair value. Deferred tax is provided upon any movements in fair value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Financial instruments |
The company only enters into basic financial instrument transactions. The following assets and liabilities are classified as financial instruments; bank accounts, accruals and Directors' loan accounts. |
Financial instruments that are payable or receivable within one year, typically bank accounts and Directors' loan accounts are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
P & A JENNINGS HOLDINGS LIMITED (REGISTERED NUMBER: 04578708) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Revaluations | 30,000 |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fair value at 31 December 2023 is represented by: |
£ |
Valuation in 2013 | (8,589 | ) |
Valuation in 2014 | 10,000 |
Valuation in 2017 | 10,000 |
Valuation in 2023 | 30,000 |
Cost | 138,589 |
180,000 |
The investment properties were valued at fair value by the directors on the 31 December 2023. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
P & A JENNINGS HOLDINGS LIMITED (REGISTERED NUMBER: 04578708) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
7. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 January 2023 | 44,145 | 10,000 | 54,145 |
Profit for the year | 38,131 | 38,131 |
Dividends | (1,834 | ) | (1,834 | ) |
Property revaluation | (30,000 | ) | 30,000 | - |
At 31 December 2023 | 50,442 | 40,000 | 90,442 |
Included within retained earnings is £1,411 that represents the net gain on investment properties. This amount is non distributable to shareholders. |