Silverfin false false 29/02/2024 01/03/2023 29/02/2024 N Hutt 21/02/2022 J D Strickland 21/02/2022 03 October 2024 The principal activity of the Company during the financial period was other letting and operating of own or leased real estate. 13928092 2024-02-29 13928092 bus:Director1 2024-02-29 13928092 bus:Director2 2024-02-29 13928092 2023-02-28 13928092 core:CurrentFinancialInstruments 2024-02-29 13928092 core:CurrentFinancialInstruments 2023-02-28 13928092 core:Non-currentFinancialInstruments 2024-02-29 13928092 core:Non-currentFinancialInstruments 2023-02-28 13928092 core:ShareCapital 2024-02-29 13928092 core:ShareCapital 2023-02-28 13928092 core:RetainedEarningsAccumulatedLosses 2024-02-29 13928092 core:RetainedEarningsAccumulatedLosses 2023-02-28 13928092 bus:OrdinaryShareClass1 2024-02-29 13928092 2023-03-01 2024-02-29 13928092 bus:FilletedAccounts 2023-03-01 2024-02-29 13928092 bus:SmallEntities 2023-03-01 2024-02-29 13928092 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13928092 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13928092 bus:Director1 2023-03-01 2024-02-29 13928092 bus:Director2 2023-03-01 2024-02-29 13928092 2022-02-21 2023-02-28 13928092 core:Non-currentFinancialInstruments 2023-03-01 2024-02-29 13928092 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 13928092 bus:OrdinaryShareClass1 2022-02-21 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13928092 (England and Wales)

JSNH LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

JSNH LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

JSNH LIMITED

BALANCE SHEET

As at 29 February 2024
JSNH LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 29.02.2024 28.02.2023
£ £
Fixed assets
Investment property 3 757,698 324,487
757,698 324,487
Current assets
Debtors 4 3,050 0
Cash at bank and in hand 5 3,527 3,337
6,577 3,337
Creditors: amounts falling due within one year 6 ( 280,417) ( 133,153)
Net current liabilities (273,840) (129,816)
Total assets less current liabilities 483,858 194,671
Creditors: amounts falling due after more than one year 7 ( 483,200) ( 199,328)
Net assets/(liabilities) 658 ( 4,657)
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 656 ( 4,659 )
Total shareholders' funds/(deficit) 658 ( 4,657)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of JSNH Limited (registered number: 13928092) were approved and authorised for issue by the Board of Directors on 03 October 2024. They were signed on its behalf by:

N Hutt
Director
JSNH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
JSNH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

JSNH Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents in relation to investment properties which is recognised in the period of occupation of the property by the tenant. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
29.02.2024
Period from
21.02.2022 to
28.02.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 March 2023 324,487
Additions 433,211
As at 29 February 2024 757,698

Historic cost

The value of investment properties is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £757.698 (2023 - £324,487).

4. Debtors

29.02.2024 28.02.2023
£ £
Other debtors 3,050 0

5. Cash and cash equivalents

29.02.2024 28.02.2023
£ £
Cash at bank and in hand 3,527 3,337

6. Creditors: amounts falling due within one year

29.02.2024 28.02.2023
£ £
Taxation and social security 154 0
Other creditors 280,263 133,153
280,417 133,153

7. Creditors: amounts falling due after more than one year

29.02.2024 28.02.2023
£ £
Bank loans (secured) 483,200 199,328

The bank loans are secured on the investment properties of the Company.

8. Called-up share capital

29.02.2024 28.02.2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2