Company registration number 07565150 (England and Wales)
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
COMPANY INFORMATION
Directors
Mr J Chin-Lioung Leung
Mrs Leena Panchkowry
Secretary
Mrs Leena Panchkowry
Company number
07565150
Registered office
66 Woodmere Avenue
Shirley
Croydon
Surrey
CR0 7PD
Accountants
Taylor Associates
1st Floor
Gallery Court
28 Arcadia Avenue
London
N3 2FG
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Group balance sheet
4
Company balance sheet
5 - 6
Group statement of cash flows
7
Notes to the financial statements
8 - 19
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 July 2024.

Principal activities
The principal activity of the company continued to be that of a retail travel agency.
Results and dividends

Ordinary dividends were paid amounting to £2,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J Chin-Lioung Leung
Mrs Leena Panchkowry
Energy and carbon report

As the group has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

On behalf of the board
Mr J Chin-Lioung Leung
Director
3 March 2025
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES FOR THE YEAR ENDED 31 JULY 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JLL Family Holdings Limited and Subsidiaries for the year ended 31 July 2024 set out on pages 3 to 19 from the accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of JLL Family Holdings Limited and Subsidiaries, as a body, in accordance with the terms of our engagement letter dated 23 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of JLL Family Holdings Limited and Subsidiaries and state those matters that we have agreed to state to the board of directors of JLL Family Holdings Limited and Subsidiaries, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JLL Family Holdings Limited and Subsidiaries and its board of directors as a body, for our work or for this report.

It is your duty to ensure that JLL Family Holdings Limited and Subsidiaries has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of JLL Family Holdings Limited and Subsidiaries. You consider that JLL Family Holdings Limited and Subsidiaries is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JLL Family Holdings Limited and Subsidiaries. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Taylor Associates
Chartered Accountants
1st Floor
Gallery Court
28 Arcadia Avenue
London
N3 2FG
3 March 2025
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
2024
2023
Notes
£
£
Turnover
290,374
430,628
Administrative expenses
(283,865)
(328,771)
Operating profit
6,509
101,857
Interest receivable and similar income
4
4,557
743
Profit before taxation
11,066
102,600
Tax on profit
-
0
-
0
Profit for the financial year
13
11,066
102,600
Profit for the financial year is all attributable to the owners of the parent company.
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
GROUP BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
5
51,525
51,525
Tangible assets
6
35,468
37,417
86,993
88,942
Current assets
Debtors
9
133,604
210,391
Cash at bank and in hand
251,639
216,000
385,243
426,391
Creditors: amounts falling due within one year
10
(98,498)
(148,661)
Net current assets
286,745
277,730
Total assets less current liabilities
373,738
366,672
Creditors: amounts falling due after more than one year
11
(160,000)
(160,000)
Net assets
213,738
206,672
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
13
213,638
206,572
Total equity
213,738
206,672

For the financial year ended 31 July 2024 the group was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities under the Companies Act 2006:

 

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

The financial statements were approved by the board of directors and authorised for issue on 3 March 2025 and are signed on its behalf by:
03 March 2025
Mr J Chin-Lioung Leung
Director
Company registration number 07565150 (England and Wales)
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
COMPANY BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
5
9,000
9,000
Investments
7
232,000
232,000
241,000
241,000
Current assets
Debtors
9
100
100
Creditors: amounts falling due within one year
10
(79,000)
(79,000)
Net current liabilities
(78,900)
(78,900)
Total assets less current liabilities
162,100
162,100
Creditors: amounts falling due after more than one year
11
(160,000)
(160,000)
Net assets
2,100
2,100
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
13
2,000
2,000
Total equity
2,100
2,100

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £2,000 (2023 - £0 profit).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 6 -
The financial statements were approved by the board of directors and authorised for issue on 3 March 2025 and are signed on its behalf by:
03 March 2025
Mr J Chin-Lioung Leung
Director
Company registration number 07565150 (England and Wales)
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
15
49,760
89,715
Investing activities
Purchase of tangible fixed assets
(4,030)
(10,804)
Interest received
2,557
743
Dividends received
2,000
-
0
Net cash generated from/(used in) investing activities
527
(10,061)
Financing activities
Repayment of bank loans
(10,648)
(10,649)
Dividends paid to equity shareholders
(4,000)
-
0
Net cash used in financing activities
(14,648)
(10,649)
Net increase in cash and cash equivalents
35,639
69,005
Cash and cash equivalents at beginning of year
216,000
146,995
Cash and cash equivalents at end of year
251,639
216,000
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
1
Accounting policies
Company information

JLL Family Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 66 Woodmere Avenue, Shirley, Croydon, Surrey, CR0 7PD.

 

The group consists of JLL Family Holdings Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 9 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company JLL Family Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 July 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 10 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% reducing balance basis
Fixtures, fittings & equipment
15% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 11 -
1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 12 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 13 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.11
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 14 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Total
9
12
-
0
2
4
Interest receivable and similar income
2024
2023
£
£
Income from shares in group undertakings
2,000
-
0
Other interest receivable and similar income
2,557
743
5
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
120,932
Amortisation and impairment
At 1 August 2023 and 31 July 2024
69,407
Carrying amount
At 31 July 2024
51,525
At 31 July 2023
51,525
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
5
Intangible fixed assets
(Continued)
- 15 -
Company
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
30,000
Amortisation and impairment
At 1 August 2023 and 31 July 2024
21,000
Carrying amount
At 31 July 2024
9,000
At 31 July 2023
9,000
6
Tangible fixed assets
Group
Plant and machinery etc
£
Cost
At 1 August 2023
407,338
Additions
4,030
At 31 July 2024
411,368
Depreciation and impairment
At 1 August 2023
369,921
Depreciation charged in the year
5,979
At 31 July 2024
375,900
Carrying amount
At 31 July 2024
35,468
At 31 July 2023
37,417
The company had no tangible fixed assets at 31 July 2024 or 31 July 2023.
7
Fixed asset investments
Group
Company
2024
2023
2024
2023
£
£
£
£
Investments in subsidiaries
8
-
0
-
0
232,000
232,000
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
7
Fixed asset investments
(Continued)
- 16 -
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 August 2023 and 31 July 2024
232,000
Carrying amount
At 31 July 2024
232,000
At 31 July 2023
232,000
8
Subsidiaries

Details of the company's subsidiaries at 31 July 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Travel Centre (Clapham) Limited
England and Wales
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Travel Centre (Clapham) Limited
361,113
9,066
9
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
99,208
79,266
-
0
-
0
Other debtors
34,396
131,125
100
100
133,604
210,391
100
100
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 17 -
10
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
26,041
36,689
-
0
-
0
Trade creditors
51,812
105,970
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
79,000
79,000
Taxation and social security
243
2,973
-
0
-
0
Other creditors
20,402
3,029
-
0
-
0
98,498
148,661
79,000
79,000
11
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Other creditors
160,000
160,000
160,000
160,000

The subordinated loan of £160,000 is subordinated to the CAA (Civil Aviation Authority) and cannot be withdrawn without the CAA's prior written consent.

12
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
26,041
36,689
-
0
-
0
Other loans - note 13
160,000
160,000
160,000
160,000
186,041
196,689
160,000
160,000
Payable within one year
26,041
36,689
-
-
Payable after one year
160,000
160,000
160,000
160,000
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 18 -
13
Reserves
Group
Company
2024
2023
2024
2023
£
£
£
£
At the beginning of the year
206,572
103,971
2,000
2,000
Profit for the year
11,066
102,600
2,000
-
0
Dividends
(4,000)
-
(2,000)
-
At the end of the year
213,638
206,571
2,000
2,000
14
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
-
31,500
-
-
Between two and five years
-
94,500
-
-
-
126,000
-
-
15
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
11,066
102,600
Adjustments for:
Investment income
(4,557)
(743)
Depreciation and impairment of tangible fixed assets
5,979
5,046
Movements in working capital:
Decrease in debtors
76,787
23,906
(Decrease) in creditors
(39,514)
(41,093)
Cash generated from operations
49,761
89,715
Difference
(1)
(1)
Per cash flow statement page
49,760
89,715
JLL FAMILY HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 19 -
16
Analysis of changes in net funds - group
1 August 2023
Cash flows
31 July 2024
£
£
£
Cash at bank and in hand
216,000
35,639
251,639
Borrowings excluding overdrafts
(196,689)
10,648
(186,041)
19,311
46,287
65,598
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