J J P Holdings (South West) Limited 09606943 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the provision of transport consultancy services and an investment holding company. Digita Accounts Production Advanced 6.30.9574.0 false true true true true true true true true 09606943 2023-03-01 2024-02-29 09606943 2024-02-29 09606943 bus:Director1 1 2024-02-29 09606943 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-02-29 09606943 core:CurrentFinancialInstruments 2024-02-29 09606943 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09606943 core:Non-currentFinancialInstruments 2024-02-29 09606943 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 09606943 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-02-29 09606943 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 09606943 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-02-29 09606943 bus:SmallEntities 2023-03-01 2024-02-29 09606943 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09606943 bus:FilletedAccounts 2023-03-01 2024-02-29 09606943 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09606943 bus:RegisteredOffice 2023-03-01 2024-02-29 09606943 bus:Director1 2023-03-01 2024-02-29 09606943 bus:Director1 1 2023-03-01 2024-02-29 09606943 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-01 2024-02-29 09606943 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09606943 core:LeaseholdImprovements 2023-03-01 2024-02-29 09606943 core:MotorVehicles 2023-03-01 2024-02-29 09606943 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-03-01 2024-02-29 09606943 core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment 2023-03-01 2024-02-29 09606943 core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-03-01 2024-02-29 09606943 core:Non-standardPPEClass4ComponentTotalPropertyPlantEquipment 2023-03-01 2024-02-29 09606943 core:OfficeEquipment 2023-03-01 2024-02-29 09606943 core:PlantMachinery 2023-03-01 2024-02-29 09606943 core:Subsidiary1 2023-03-01 2024-02-29 09606943 core:Subsidiary1 countries:AllCountries 2023-03-01 2024-02-29 09606943 core:Subsidiary2 2023-03-01 2024-02-29 09606943 core:Subsidiary2 countries:AllCountries 2023-03-01 2024-02-29 09606943 core:Subsidiary3 2023-03-01 2024-02-29 09606943 core:Subsidiary3 countries:AllCountries 2023-03-01 2024-02-29 09606943 core:Subsidiary4 2023-03-01 2024-02-29 09606943 core:Subsidiary4 countries:AllCountries 2023-03-01 2024-02-29 09606943 core:Subsidiary5 2023-03-01 2024-02-29 09606943 core:Subsidiary5 countries:AllCountries 2023-03-01 2024-02-29 09606943 core:Subsidiary6 2023-03-01 2024-02-29 09606943 core:Subsidiary7 2023-03-01 2024-02-29 09606943 core:Subsidiary8 2023-03-01 2024-02-29 09606943 countries:EnglandWales 2023-03-01 2024-02-29 09606943 2023-02-28 09606943 bus:Director1 1 2023-02-28 09606943 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 09606943 2022-03-01 2023-02-28 09606943 2023-02-28 09606943 bus:Director1 1 2023-02-28 09606943 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-02-28 09606943 core:CurrentFinancialInstruments 2023-02-28 09606943 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09606943 core:Non-currentFinancialInstruments 2023-02-28 09606943 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 09606943 bus:Director1 1 2022-03-01 2023-02-28 09606943 core:Subsidiary1 2022-03-01 2023-02-28 09606943 core:Subsidiary2 2022-03-01 2023-02-28 09606943 core:Subsidiary3 2022-03-01 2023-02-28 09606943 core:Subsidiary4 2022-03-01 2023-02-28 09606943 core:Subsidiary5 2022-03-01 2023-02-28 09606943 core:Subsidiary6 2022-03-01 2023-02-28 09606943 core:Subsidiary7 2022-03-01 2023-02-28 09606943 core:Subsidiary8 2022-03-01 2023-02-28 09606943 bus:Director1 1 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09606943

J J P Holdings (South West) Limited

Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

J J P Holdings (South West) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 13

 

J J P Holdings (South West) Limited

Company Information

Director

Mr J Jones-Pratt

Registered office

34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

J J P Holdings (South West) Limited

(Registration number: 09606943)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,216,556

3,031,697

Investments

5

261

601

Other financial assets

10,295,503

9,502,128

 

13,512,320

12,534,426

Current assets

 

Debtors

6

1,450,805

1,782,537

Cash at bank and in hand

 

-

18,725

 

1,450,805

1,801,262

Prepayments and accrued income

 

4,071

156,930

Creditors: Amounts falling due within one year

7.1

(416,379)

(221,282)

Net current assets

 

1,038,497

1,736,910

Total assets less current liabilities

 

14,550,817

14,271,336

Creditors: Amounts falling due after more than one year

7.2

(181,051)

(189,081)

Provisions for liabilities

(359,487)

(374,073)

Accruals and deferred income

 

(6,295)

-

Net assets

 

14,003,984

13,708,182

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

14,003,884

13,708,082

Shareholders' funds

 

14,003,984

13,708,182

 

J J P Holdings (South West) Limited

(Registration number: 09606943)
Abridged Balance Sheet as at 29 February 2024

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.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 director on 29 November 2024
 

.........................................
Mr J Jones-Pratt
Director

 

J J P Holdings (South West) Limited

Notes to the Unaudited Abridged 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:
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF
United Kingdom

The principal place of business is:
Rookery Farm
Green Ore
Wells
BA5 3ES

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 abridged 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 abridged 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.

These financial statements are presented in pounds sterling (£).

Group accounts not prepared

The company has taken advantage of the exemptions available to the parent of a small group and as such has elected not to prepare consolidated financial statements.

 

J J P Holdings (South West) Limited

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

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 value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue 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.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the components of the assets, less any residual value, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Chassis

20 years straight line

Bodywork, Firebox, Controls and Bogies

10 years straight line

Boiler

10 years straight line

 

J J P Holdings (South West) Limited

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

Locomotions

10 & 20 years straight line

Motor Vehicles

5 years straight line

Office Equipment

10 years straight line

Leasehold improvements

50 years straight line

Plant and machinery

s4 years Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

J J P Holdings (South West) Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

J J P Holdings (South West) Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 3).

4

Tangible assets

Total
£

Cost or valuation

At 1 March 2023

3,876,577

Additions

710,054

Disposals

(228,009)

At 29 February 2024

4,358,622

Depreciation

At 1 March 2023

844,880

Charge for the year

339,584

Eliminated on disposal

(42,398)

At 29 February 2024

1,142,066

Carrying amount

At 29 February 2024

3,216,556

At 28 February 2023

3,031,697

 

J J P Holdings (South West) Limited

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

5

Investments

Total
£

Cost or valuation

At 1 March 2023

601

Additions

60

Disposals

(400)

At 29 February 2024

261

Carrying amount

At 29 February 2024

261

At 28 February 2023

601

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Crosville Motor Services Limited

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

100%

100%

 

England and Wales

     

Somerset Coachline Ltd (dissolved 28 March 2023)

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

0%

100%

 

England and Wales

     
 

J J P Holdings (South West) Limited

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

Slipstream Holdings Limited (dissolved 28 March 2023)

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

0%

100%

 

England and Wales

     

Jejunary 19 Ltd (dissolved 25 April 2023)

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

0%

100%

 

England and Wales

     

Gravity Passenger Solutions Limited

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

100%

100%

 

England and Wales

     

Quantock Heritage Ltd (dissolved 28 March 2023)

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

0%

100%

 

     

Rookery Farm (Green Ore) Ltd

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

100%

100%

 

     

Image Coach Works Ltd

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Ordinary

60%

0%

 

     

Subsidiary undertakings

Crosville Motor Services Limited

The principal activity of Crosville Motor Services Limited is that of a dormant company.

Somerset Coachline Ltd (dissolved 28 March 2023)

The principal activity of Somerset Coachline Ltd (dissolved 28 March 2023) is that of a dormant company.

 

J J P Holdings (South West) Limited

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

Slipstream Holdings Limited (dissolved 28 March 2023)

The principal activity of Slipstream Holdings Limited (dissolved 28 March 2023) is that of a management consultancy business.

Jejunary 19 Ltd (dissolved 25 April 2023)

The principal activity of Jejunary 19 Ltd (dissolved 25 April 2023) is the hire of vintage vehicles.

Gravity Passenger Solutions Limited

The principal activity of Gravity Passenger Solutions Limited is that of a dormant company.

Quantock Heritage Ltd (dissolved 28 March 2023)

The principal activity of Quantock Heritage Ltd (dissolved 28 March 2023) is that of a dormant company.

Rookery Farm (Green Ore) Ltd

The principal activity of Rookery Farm (Green Ore) Ltd is owning and operating agricultural property.

Image Coach Works Ltd

The principal activity of Image Coach Works Ltd is maintenance and repair of motor vehicles.

Other investments

The market value of the listed investments at 29 February 2024 was £10,295,503 (2023 - £9,502,128).

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Creditors

Creditors: amounts falling due within one year


Creditors include net obligations under finance lease and hire purchase contracts of £67,835, which are secured over the assets of the company (2023 - £58,179).

 

J J P Holdings (South West) Limited

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

Creditors: amounts falling due after more than one year

Creditors include net obligations under finance lease and hire purchase contracts of £181,051, which are secured over the assets of the company (2023 - £189,081).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Dividends

2024

2023

£

£

Interim dividend of £332.54 (2023 - £940.95) per ordinary share

33,254

94,095

 

 
 

J J P Holdings (South West) Limited

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

10

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr J Jones-Pratt

Directors loan accoun

(112,503)

(209,685)

145,561

(176,626)

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr J Jones-Pratt

Directors loan accoun

(93,412)

(354,529)

335,438

(112,503)

Other transactions with the director

The loan to the director has interest charged at the official rate of interest and section 455 tax is provided for on all balances not repaid within nine months of the year end.