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REGISTERED NUMBER: 08730501 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

JOHN GERMAN ESTATE AGENTS LIMITED

JOHN GERMAN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 08730501)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JOHN GERMAN ESTATE AGENTS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: J L M Morgan
P M Sandbach
T S Glenn





REGISTERED OFFICE: 9A Market Place
Uttoxeter
Staffordshire
ST14 8HY





REGISTERED NUMBER: 08730501 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

JOHN GERMAN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 08730501)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 6,267
Tangible assets 5 97,003 99,665
97,003 105,932

CURRENT ASSETS
Debtors 6 438,290 396,194
Cash in hand 1,577 1,474
439,867 397,668
CREDITORS
Amounts falling due within one year 7 (464,702 ) (344,745 )
NET CURRENT (LIABILITIES)/ASSETS (24,835 ) 52,923
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,168

158,855

PROVISIONS FOR LIABILITIES (6,306 ) (15,500 )
NET ASSETS 65,862 143,355

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,762 143,255
SHAREHOLDERS' FUNDS 65,862 143,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





P M Sandbach - Director


JOHN GERMAN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 08730501)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

John German Estate Agents Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08730501 and its registered office address is 9A Market Place, Uttoxeter, Staffordshire, ST14 8HY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling and amounts are rounded to the nearest £1.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern
As at 31 March 2024 the company had net current liabilities of £24,835 (2023: net current assets of £52,923). The directors have reviewed the business performance after the year end and have prepared forecasts and as a result of this they are confident that the company will be able to meet its financial obligations as they fall due. As such the accounts have been prepared on the going concern basis.

Turnover
Turnover 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:

Property sales services
Revenue from a contract to provide services is recognised on exchange of property sales contracts and when all the following conditions are satisfied:

(i) the amount of revenue can be reliably measured;
(ii) it is probable the Company will receive the consideration due under the contract;
(iii) the stage of completion of the contract at the end of the reporting period can be measured reliably; and
(iv) the costs incurred and the costs to complete the contract can be measured reliably.

Property lettings services
Revenue from a contract to provide lettings services is recognised in the period in which the services are provided and when all the following conditions are satisfied:

(i) the amount of revenue can be reliably measured;
(ii) it is probable the Company will receive the consideration due under the contract;
(iii) the stage of completion of the contract at the end of the reporting period can be measured reliably; and
(iv) the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill is initially recorded at cost and is the amount paid in connection with the acquisition of two separate entities in 2014 and one in 2018. Goodwill is being amortised evenly over its estimated useful life of five years from the date of acquisition.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

Depreciation is provided at the following annual rates in order to write off each asset, net of anticipated disposal proceeds, over its estimated useful economic life. Depreciation is charged at the following rates:

Short leasehold land & buildings-10% straight line
Fixtures and fittings-25% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-33% straight line

JOHN GERMAN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 08730501)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

Taxation
The tax expense for the year comprises current and deferred tax.

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

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 it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

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

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Leasing commitments
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 93 (2023 - 78 ) .

JOHN GERMAN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 08730501)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 385,723
AMORTISATION
At 1 April 2023 379,456
Amortisation for year 6,267
At 31 March 2024 385,723
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 6,267

5. TANGIBLE FIXED ASSETS
Short
leasehold Fixtures
land & and Motor Computer
buildings fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 83,574 104,764 1,300 53,485 243,123
Additions 25,882 6,180 - 4,604 36,666
At 31 March 2024 109,456 110,944 1,300 58,089 279,789
DEPRECIATION
At 1 April 2023 67,593 38,043 1,097 36,725 143,458
Charge for year 9,374 17,782 51 12,121 39,328
At 31 March 2024 76,967 55,825 1,148 48,846 182,786
NET BOOK VALUE
At 31 March 2024 32,489 55,119 152 9,243 97,003
At 31 March 2023 15,981 66,721 203 16,760 99,665

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 143,809 120,905
Amounts owed by John German Holdings 138,877 49,102
Other debtors 155,604 226,187
438,290 396,194

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 100,129 35,845
Trade creditors 144,210 151,966
Taxation and social security 155,505 104,999
Other creditors 64,858 51,935
464,702 344,745

JOHN GERMAN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 08730501)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 139,952 113,510
Between one and five years 202,093 198,060
In more than five years 7,333 -
349,378 311,570

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 100,129 -

The company's overdraft facility with Svenska Handelsbanken Ab (Publ) is secured by way of a fixed and floating charge over the company's assets.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

J L M Morgan, director, owed the company £5,464 at 31 March 2024 (2023: £24,607), the maximum amount that was owed during the year was £24,607.

P M Sandbach, director, owed the company £22,381 at 31 March 2024 (2023: £74,673), the maximum amount that was owed during the year £74,673.

Loans to directors are interest free with no fixed repayment terms and are shown within other debtors or other creditors.