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Registered number: 12269154









JH AND FAMILY H2 LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
JH AND FAMILY H2 LTD
REGISTERED NUMBER: 12269154

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,363
21,050

Investment property
 5 
1,341,981
1,341,981

  
1,356,344
1,363,031

Current assets
  

Debtors: amounts falling due within one year
 6 
9,000
10,111

Cash at bank and in hand
 7 
18,673
43,478

  
27,673
53,589

Creditors: amounts falling due within one year
 8 
(554,312)
(878,533)

Net current liabilities
  
 
 
(526,639)
 
 
(824,944)

Total assets less current liabilities
  
829,705
538,087

Creditors: amounts falling due after more than one year
 9 
(899,595)
(574,318)

  

Net liabilities
  
(69,890)
(36,231)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(69,891)
(36,232)

  
(69,890)
(36,231)


Page 1

 
JH AND FAMILY H2 LTD
REGISTERED NUMBER: 12269154
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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

The Company has opted not to file the statement of comprehensive income 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 24 December 2024.




................................................
K. Hundal
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
JH AND FAMILY H2 LTD
REGISTERED NUMBER: 12269154

ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 31 DECEMBER 2023




At 1 January 2023
Cash flows
At 31 December 2023
£

£

£

Cash at bank and in hand

43,480

(24,807)

18,673

Debt due after 1 year

(574,318)

(325,277)

(899,595)


(530,838)
(350,084)
(880,922)

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
JH AND FAMILY H2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

The legal form of the entity is a private company limited by shares, registered in England and Wales and the registered address is situated at Unit 3 Bradburys Court, Lyon Road, Harrow, HA1 2BY.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

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.

Page 4

 
JH AND FAMILY H2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Borrowing costs

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

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 5

 
JH AND FAMILY H2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the period was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
33,442



At 31 December 2023

33,442



Depreciation


At 1 January 2023
12,391


Charge for the period on owned assets
6,688



At 31 December 2023

19,079



Net book value



At 31 December 2023
14,363



At 31 December 2022
21,050

Page 6

 
JH AND FAMILY H2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 January 2023
1,166,531
175,450
1,341,981



At 31 December 2023
1,166,531
175,450
1,341,981


Comprising


Cost
1,166,531
175,450
1,341,981

At 31 December 2023
1,166,531
175,450
1,341,981

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,341,981
1,341,981

1,341,981
1,341,981


6.


Debtors

2023
2022
£
£


Other debtors
9,000
9,000

Prepayments and accrued income
-
1,111

9,000
10,111


Page 7

 
JH AND FAMILY H2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,673
43,478

18,673
43,478



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
416

Amounts owed to group undertakings
549,501
875,637

Accruals and deferred income
4,811
2,480

554,312
878,533


Page 8

 
JH AND FAMILY H2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
899,595
574,318

899,595
574,318


The following liabilities were secured:

2023
2022
£
£



Bank Loan
899,595
574,318

899,595
574,318

Details of security provided:

The bank loans are secured against specific investment properties and contains negative pledge.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2023
2022
£
£


Repayable other than by instalments
899,595
574,318

899,595
574,318

The amount is an interest only term loan where the whole principle amount is repayable at the end of the term and currently the properties are paying interest at a fixed rate ranging from 3.44% - 6.09%

Page 9

 
JH AND FAMILY H2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
899,595
574,318

899,595
574,318

899,595
574,318



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
18,673
43,480



 
Page 10