Company registration number 10701557 (England and Wales)
JDW HOMES LIMITED
Unaudited Financial Statements
for the Year Ended 31 March 2024
JDW HOMES LIMITED
CONTENTS
Page
Company Information
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JDW HOMES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
1,389,835
1,389,835
Investments
4
2
8
1,389,837
1,389,843
Current assets
Debtors
6
176,545
172,214
Cash at bank and in hand
4,209
14,161
180,754
186,375
Creditors: amounts falling due within one year
7
(268,354)
(257,925)
Net current liabilities
(87,600)
(71,550)
Total assets less current liabilities
1,302,237
1,318,293
Creditors: amounts falling due after more than one year
8
(973,453)
(969,418)
Net assets
328,784
348,875
Capital and reserves
Called up share capital
10
10
Revaluation reserve
255,558
255,558
Profit and loss reserves
73,216
93,307
Total equity
328,784
348,875

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 March 2024 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.

JDW HOMES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 October 2024 and are signed on its behalf by:
Mr J D Williams
Mrs K O Williams
Director
Director
Company registration number 10701557 (England and Wales)
JDW HOMES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
- 3 -
1
Accounting policies
Company information

JDW Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 5 & 6, The Wharf, Eardisley, Herefordshire, HR3 6NS.

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
Going concern

At the balance sheet date the company had net current liabilities of £87,600 (2023- 71,550) and total net asset of £328,784 (2023- £348,875). However creditors includes a loan from the directors of £12,681 (2023 -£17,681). In addition the directors are aware of the turnover and margins that the company needs to achieve in order to keep the company in profit and they believe these targets can be met. The directors review realistic objectives at regular intervals, based on this periodic review, the company's plans and the continued support of the directors, they consider it appropriate to prepare the financial statement on the going concern basis.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

The company recognises Turnover when:

The amount of Turnover can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

JDW HOMES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
1
Accounting policies
- 4 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

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, 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

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 at transaction price.

2
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
1,389,835

There has been no revaluation of investment property by an independent valuer.

JDW HOMES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2
8
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023
8
Disposals
(6)
At 31 March 2024
2
Carrying amount
At 31 March 2024
2
At 31 March 2023
8
5
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Kittys Lane Ltd
England & Wales
Letting of rental property
Ordinary £1
100.00
41 Kington Ltd
England & Wales
Letting of rental property
Ordinary £1
100.00
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
2,419
Amounts owed by undertakings in which the company has a participating interest
176,545
169,795
176,545
172,214
JDW HOMES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,783
9,275
Trade creditors
14
12
Other creditors
263,557
248,638
268,354
257,925
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
24,710
25,000
Other creditors
948,743
944,418
973,453
969,418
9
Loans and overdrafts
2024
2023
£
£
Bank loans
29,493
34,275
Other loans
948,743
944,418
978,236
978,693
Payable within one year
4,783
9,275
Payable after one year
973,453
969,418
JDW HOMES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
9
Loans and overdrafts
- 7 -

Aldermore Bank is denominated in GBP with a nominal interest rate of 3.78% per month, the final instalment is due on 30 November 2045. The carrying amount at year end is £182,949 (2023 - £182,910).

The loan is secured against the property at 3 Park Terrace, Kingsland, Leominster

 

Paragon Bank Plc is denominated in GBP with a nominal interest rate of 2.850% per month, and the final instalment is due on 6 December 2036. The carrying amount at year end is £145,693 (2023 - £141,450).

The loan is secured by a legal charge over the property at 1 Caradoc Drive, Leominster

 

Lloyds Bank is denominated in GBP with a nominal interest rate of 2.5% per month, and the final instalment is due on 30 April 2026. The carrying amount at year end is £29,493 (2023 - £34,275).

The loan is not secured

 

Paratus Amc Limited is denominated in GBP and the final instalment is due on 22 December 2046 . The carrying amount at year end is £211,066 (2023 - £211,052).

A charge is secured against the property at 2 Woodland View Norton Canon, Hereford

 

Paratus Amc Limited is denominated in GBP and the final instalment is due on 12 October 2036. The carrying amount at year end is £204,5517 (2023 - £204,503).

A charge is secured against the property at 4 Woodland View Norton Canon, Hereford

 

Paratus Amc Limited is denominated in GBP and the final instalment is due on 20 December 2036. The carrying amount at year end is £204,517 (2023 - £204,503).

A charge is secured against the property at 3 Woodland View Norton Canon, Hereford

 

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