Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falsemanaging its trading subsidiaries33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10475858 2023-04-01 2024-03-31 10475858 2022-04-01 2023-03-31 10475858 2024-03-31 10475858 2023-03-31 10475858 2022-04-01 10475858 c:Director2 2023-04-01 2024-03-31 10475858 d:CurrentFinancialInstruments 2024-03-31 10475858 d:CurrentFinancialInstruments 2023-03-31 10475858 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10475858 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10475858 d:ShareCapital 2024-03-31 10475858 d:ShareCapital 2023-03-31 10475858 d:ShareCapital 2022-04-01 10475858 d:CapitalRedemptionReserve 2024-03-31 10475858 d:CapitalRedemptionReserve 2023-03-31 10475858 d:CapitalRedemptionReserve 2022-04-01 10475858 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10475858 d:RetainedEarningsAccumulatedLosses 2024-03-31 10475858 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10475858 d:RetainedEarningsAccumulatedLosses 2023-03-31 10475858 d:RetainedEarningsAccumulatedLosses 2022-04-01 10475858 c:FRS102 2023-04-01 2024-03-31 10475858 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10475858 c:FullAccounts 2023-04-01 2024-03-31 10475858 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10475858 6 2023-04-01 2024-03-31 10475858 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 10475858





 
Junction Holdings Limited          
 
Financial statements          

For the year ended 31 March 2024          

 
Junction Holdings Limited
Registered number:10475858

Balance sheet
As at 31 March 2024


2024

2023 
                                                                                    Note
£
£
£
£

Fixed assets
  

Investments
 4 
1,119,401
1,119,401

Current assets
  

Debtors
 5 
1,067
1,067

Creditors: amounts falling due within one year
 6 
(559,000)
(560,288)

Net current liabilities
  
 
 
(557,933)
 
 
(559,221)

  

Net assets
  
561,468
560,180


Capital and reserves
  

Called up share capital 
  
7,984
7,984

Capital redemption reserve
  
2,019
2,019

Profit and loss account
  
551,465
550,177

  
561,468
560,180


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 27 June 2024.



N J Wilson
Director





The notes on pages 3 to 6 form part of these financial statements.
Page 1

 
Junction Holdings Limited
 

Statement of changes in equity
For the year ended 31 March 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
7,984
2,019
550,177
560,180



Profit for the year
-
-
1,288
1,288


At 31 March 2024
7,984
2,019
551,465
561,468



Statement of changes in equity
For the year ended 31 March 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
7,984
2,019
548,858
558,861



Profit for the year
-
-
19,588
19,588

Dividends: Equity capital
-
-
(18,269)
(18,269)


At 31 March 2023
7,984
2,019
550,177
560,180














The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
Junction Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

Junction Holdings Limited is a private company limited by shares, incorporated in England and Wales.  Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
 

Page 3

 
Junction Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 

Page 4

 
Junction Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
Junction Holdings Limited
 
 
Notes to the financial statements
For the year ended 31 March 2024

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2022 and 31 March 2023
1,119,401





5.


Debtors

2024
2023
£
£


Other debtors
1,067
1,067



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
340,939
295,209

Corporation tax
302
309

Other taxation and social security
1,832
2,043

Other creditors
212,643
258,644

Accruals and deferred income
3,284
4,083

559,000
560,288



7.


Related party transactions

During the year the company charged a management charge to Clarke Hillyer Limited, a subsidiary company, of £12,189 (2023 - £12,480). At the balance sheet date the company owed £340,939 (2023 - £295,209) to Clarke Hillyer Limited.  No interest was charged on this loan.

 
Page 6