Company registration number 00535889 (England and Wales)
JESSE HILL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
JESSE HILL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
JESSE HILL LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
345,392
379,623
Current assets
Stocks
50,417
90,251
Debtors
4
363,946
417,723
Cash at bank and in hand
25,119
19,145
439,482
527,119
Creditors: amounts falling due within one year
5
(382,202)
(414,873)
Net current assets
57,280
112,246
Total assets less current liabilities
402,672
491,869
Creditors: amounts falling due after more than one year
6
(18,116)
(27,924)
Provisions for liabilities
(20,757)
(20,944)
Net assets
363,799
443,001
Capital and reserves
Called up share capital
7
17,400
17,400
Revaluation reserve
197,084
197,084
Profit and loss reserves
149,315
228,517
Total equity
363,799
443,001

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

JESSE HILL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mr Ashley Hill
Mr Justin Hill
Director
Director
Company registration number 00535889 (England and Wales)
JESSE HILL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2022
17,400
197,084
193,163
407,647
Year ended 31 December 2022:
Profit and total comprehensive income
-
-
199,354
199,354
Dividends
-
-
(164,000)
(164,000)
Balance at 31 December 2022
17,400
197,084
228,517
443,001
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
80,798
80,798
Dividends
-
-
(160,000)
(160,000)
Balance at 31 December 2023
17,400
197,084
149,315
363,799
JESSE HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Jesse Hill Limited is a private company limited by shares incorporated in England and Wales. The registered office is 56-60 Pritchett Street, Birmingham, West Midlands, B6 4EY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Plant and equipment
10% on cost
Fixtures and fittings
10% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

JESSE HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

JESSE HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

JESSE HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
29
26
JESSE HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 January 2023
240,000
741,443
981,443
Additions
-
0
12,165
12,165
Disposals
-
0
(5,051)
(5,051)
At 31 December 2023
240,000
748,557
988,557
Depreciation and impairment
At 1 January 2023
-
0
601,820
601,820
Depreciation charged in the year
-
0
46,089
46,089
Eliminated in respect of disposals
-
0
(4,744)
(4,744)
At 31 December 2023
-
0
643,165
643,165
Carrying amount
At 31 December 2023
240,000
105,392
345,392
At 31 December 2022
240,000
139,623
379,623

Land and buildings with a carrying amount of £240,000 were revalued at 28/02/2013 by seller's chartered surveyor, independent valuer not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

Freehold Land
2023
2022
£
£
Cost
89,014
89,014
Accumulated depreciation
(47,878)
(47,878)
Carrying value
41,136
41,136
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
224,145
260,045
Corporation tax recoverable
3,555
3,555
Other debtors
136,246
154,123
363,946
417,723
JESSE HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,154
10,154
Trade creditors
243,615
292,687
Corporation tax
1,473
1,657
Other taxation and social security
55,359
47,419
Other creditors
10,522
3,930
Accruals and deferred income
61,079
59,026
382,202
414,873

 

6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
18,116
27,924

 

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary of £1 each
16,200
16,200
16,200
16,200
B Shares of £1 each
500
500
500
500
C Shares of £1 each
500
500
500
500
D Shares of £1 each
100
100
100
100
E Shares of £1 each
100
100
100
100
17,400
17,400
17,400
17,400

100 D Shares were issued but not fully paid

100 E Shares were issued but not fully paid

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
34,653
48,104
JESSE HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
9
Directors' transactions

Dividends totalling 2023 - £160,000 (2022 - £164,000) were paid in the year in respect of shares held by the company's directors.

As at year end date, the amount owed to the company by the directors was £107,870 (2022 - 129,395).

2023-12-312023-01-01false26 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityAshley Rawson HillNorman Jesse Rawson HillJustin Rawson HillMrs Patricia Hillfalsefalse005358892023-01-012023-12-31005358892023-12-31005358892022-12-3100535889core:LandBuildings2023-12-3100535889core:OtherPropertyPlantEquipment2023-12-3100535889core:LandBuildings2022-12-3100535889core:OtherPropertyPlantEquipment2022-12-3100535889core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3100535889core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3100535889core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3100535889core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3100535889core:CurrentFinancialInstruments2023-12-3100535889core:CurrentFinancialInstruments2022-12-3100535889core:ShareCapital2023-12-3100535889core:ShareCapital2022-12-3100535889core:RevaluationReserve2023-12-3100535889core:RevaluationReserve2022-12-3100535889core:RetainedEarningsAccumulatedLosses2023-12-3100535889core:RetainedEarningsAccumulatedLosses2022-12-3100535889core:ShareCapital2021-12-3100535889core:RevaluationReserve2021-12-3100535889core:RetainedEarningsAccumulatedLosses2021-12-3100535889core:ShareCapitalOrdinaryShares2023-12-3100535889core:ShareCapitalOrdinaryShares2022-12-3100535889bus:Director12023-01-012023-12-3100535889bus:Director32023-01-012023-12-3100535889core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31005358892022-01-012022-12-3100535889core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3100535889core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3100535889core:PlantMachinery2023-01-012023-12-3100535889core:FurnitureFittings2023-01-012023-12-3100535889core:MotorVehicles2023-01-012023-12-3100535889core:LandBuildings2022-12-3100535889core:OtherPropertyPlantEquipment2022-12-31005358892022-12-3100535889core:LandBuildings2023-01-012023-12-3100535889core:OtherPropertyPlantEquipment2023-01-012023-12-3100535889core:WithinOneYear2023-12-3100535889core:WithinOneYear2022-12-3100535889core:Non-currentFinancialInstruments2023-12-3100535889core:Non-currentFinancialInstruments2022-12-3100535889bus:PrivateLimitedCompanyLtd2023-01-012023-12-3100535889bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100535889bus:FRS1022023-01-012023-12-3100535889bus:AuditExemptWithAccountantsReport2023-01-012023-12-3100535889bus:Director22023-01-012023-12-3100535889bus:CompanySecretary12023-01-012023-12-3100535889bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP