1 May 2023 v2024.67.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0falsetruexbrli:purexbrli:sharesiso4217:GBP107387542023-05-012024-04-30107387542024-04-30107387542023-04-3010738754core:WithinOneYear2024-04-3010738754core:WithinOneYear2023-04-3010738754core:ShareCapital2024-04-3010738754core:ShareCapital2023-04-3010738754core:RetainedEarningsAccumulatedLosses2024-04-3010738754core:RetainedEarningsAccumulatedLosses2023-04-3010738754bus:Director12023-05-012024-04-3010738754bus:RegisteredOffice2023-05-012024-04-3010738754core:NetGoodwill2023-05-012024-04-3010738754core:OfficeEquipment2023-05-012024-04-30107387542022-05-012023-04-3010738754core:NetGoodwill2024-04-3010738754core:NetGoodwill2023-04-3010738754core:PlantMachinery2023-05-0110738754core:PlantMachinery2023-05-012024-04-3010738754core:PlantMachinery2024-04-3010738754core:PlantMachinery2023-04-3010738754core:CostValuation2023-05-0110738754core:CostValuation2024-04-301073875412023-05-012024-04-3010738754countries:EnglandWales2023-05-012024-04-3010738754bus:AuditExemptWithAccountantsReport2023-05-012024-04-3010738754bus:PrivateLimitedCompanyLtd2023-05-012024-04-3010738754bus:SmallEntities2023-05-012024-04-3010738754bus:FullAccounts2023-05-012024-04-30
Company registration number:
10738754
J2 Holdings Limited
Unaudited Filleted Financial Statements for the year ended
30 April 2024
J2 Holdings Limited
Statement of Financial Position
30 April 2024
20242023
Note££
Fixed assets    
Intangible assets 5
1
 
1
 
Tangible assets 6
5,891
 
7,821
 
Investments 7
1,140,000
 
1,140,000
 
1,145,892
 
1,147,822
 
Current assets    
Debtors 8
48,606
 
9,000
 
Cash at bank and in hand
169,570
 
67,592
 
218,176
 
76,592
 
Creditors: amounts falling due within one year 9
(20,993
)
(114,287
)
Net current assets/(liabilities)
197,183
 
(37,695
)
Total assets less current liabilities 1,343,075   1,110,127  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
1,342,975
 
1,110,027
 
Shareholders funds
1,343,075
 
1,110,127
 
For the year ending
30 April 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
30 September 2024
, and are signed on behalf of the board by:
H James
Director
Company registration number:
10738754
J2 Holdings Limited
Notes to the Financial Statements
Year ended
30 April 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 125 South Shields Business Works
,
Henry Robson Way
,
South Shields
,
Tyne & Wear
,
NE33 1RF
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2023:
2
).

5 Intangible assets

Goodwill
£
Cost  
At
1 May 2023
and
30 April 2024
1
 
Amortisation  
At
1 May 2023
and
30 April 2024
-  
Carrying amount  
At
30 April 2024
1
 
At 30 April 2023
1
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 May 2023
20,355
 
Additions
1,970
 
At
30 April 2024
22,325
 
Depreciation  
At
1 May 2023
12,534
 
Charge
3,900
 
At
30 April 2024
16,434
 
Carrying amount  
At
30 April 2024
5,891
 
At 30 April 2023
7,821
 

7 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 May 2023
1,140,000
 
At
30 April 2024
1,140,000
 
Impairment  
At
1 May 2023
and
30 April 2024
-  
Carrying amount  
At
30 April 2024
1,140,000
 
At 30 April 2023
1,140,000
 

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
20242023
Shares in group undertakings and participating interestsShares in group undertakings and participating interests
££
Aggregate historical cost -   1,140,000  
Carrying amount -   1,140,000  

8 Debtors

20242023
££
Trade debtors
36,000
  -  
Other debtors
12,606
 
9,000
 
48,606
 
9,000
 

9 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
14,744
 
10,958
 
Other creditors
6,249
 
103,329
 
20,993
 
114,287