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Registration number: 10009119

Jan A Harding Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Jan A Harding Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

Jan A Harding Limited

Company Information

Directors

Mrs JA Harding

Mrs DV Barnes

Registered office

Escley
Church Lane
Kingston
Canterbury
Kent
CT4 6HY

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Jan A Harding Limited

(Registration number: 10009119)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

696,001

638,001

Current assets

 

Debtors

5

-

423

Cash at bank and in hand

 

2,411

2,193

 

2,411

2,616

Creditors: Amounts falling due within one year

6

(54,263)

(40,640)

Net current liabilities

 

(51,852)

(38,024)

Total assets less current liabilities

 

644,149

599,977

Creditors: Amounts falling due after more than one year

6

(338,510)

(353,406)

Provisions for liabilities

(72,877)

(49,772)

Net assets

 

232,762

196,799

Capital and reserves

 

Called up share capital

200

200

Revaluation reserve

194,820

159,925

Retained earnings

37,742

36,674

Shareholders' funds

 

232,762

196,799

 

Jan A Harding Limited

(Registration number: 10009119)
Balance Sheet as at 29 February 2024 (continued)

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mrs DV Barnes
Director

   
     
 

Jan A Harding Limited

Statement of Changes in Equity for the Year Ended 29 February 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 March 2023

200

159,925

36,674

196,799

Profit for the year

-

-

1,068

1,068

Other comprehensive income

-

34,895

-

34,895

Total comprehensive income

-

34,895

1,068

35,963

At 29 February 2024

200

194,820

37,742

232,762

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 March 2022

200

171,870

23,291

195,361

Profit for the year

-

-

13,383

13,383

Other comprehensive income

-

(11,945)

-

(11,945)

Total comprehensive income

-

(11,945)

13,383

1,438

At 28 February 2023

200

159,925

36,674

196,799

 

Jan A Harding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Escley
Church Lane
Kingston
Canterbury
Kent
CT4 6HY
 

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company's ability to continue as a going concern.

 

Jan A Harding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 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.

Finance income and costs policy

Interest income is recognised in profit or loss using the effective interest method.

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.

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

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

 

Jan A Harding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Investment property

Investment property is carried at fair value, determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Jan A Harding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

Valuation

At 1 March 2023

638,001

Fair value adjustments

58,000

At 29 February 2024

696,001

If investment property had not been revalued it would be included at the historical cost of £428,304 at the year end.
The investment property was valued on an open market basis on 29 February 2024 by an independent valuer.

If the properties were sold at the valuation amount corporation tax totalling £72,877 would be payable.

5

Debtors

Current

2024
£

2023
£

Prepayments

-

423

 

-

423

 

Jan A Harding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

51,486

34,987

Trade creditors

 

1,278

1,326

Taxation and social security

 

251

3,139

Accruals and deferred income

 

1,248

1,188

 

54,263

40,640

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

338,510

353,406

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

338,510

353,406

Current loans and borrowings

2024
£

2023
£

Bank borrowings

14,040

14,040

Directors current account

37,446

20,947

51,486

34,987

 

Jan A Harding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

8

Provisions for liabilities

Deferred tax
£

Total
£

At 1 March 2023

49,772

49,772

Increase (decrease) in existing provisions

23,105

23,105

At 29 February 2024

72,877

72,877