Jims Carpets Holdings Limited 13131712 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Holding Company Digita Accounts Production Advanced 6.30.9574.0 true false true true 13131712 2023-10-01 2024-09-30 13131712 2024-09-30 13131712 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-09-30 13131712 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2024-09-30 13131712 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2024-09-30 13131712 bus:PreferenceShareClass1 bus:CumulativeRedeemableShares 2024-09-30 13131712 core:RetainedEarningsAccumulatedLosses 2024-09-30 13131712 core:RevaluationReserve 2024-09-30 13131712 core:ShareCapital 2024-09-30 13131712 core:CurrentFinancialInstruments 2024-09-30 13131712 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 13131712 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 13131712 core:MoreThanFiveYears 2 2024-09-30 13131712 core:LandBuildings 2024-09-30 13131712 bus:SmallEntities 2023-10-01 2024-09-30 13131712 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 13131712 bus:FilletedAccounts 2023-10-01 2024-09-30 13131712 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13131712 bus:RegisteredOffice 2023-10-01 2024-09-30 13131712 bus:Director1 2023-10-01 2024-09-30 13131712 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13131712 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13131712 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-10-01 2024-09-30 13131712 bus:PreferenceShareClass1 bus:CumulativeRedeemableShares 2023-10-01 2024-09-30 13131712 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13131712 core:Buildings 2023-10-01 2024-09-30 13131712 core:LandBuildings 2023-10-01 2024-09-30 13131712 core:Subsidiary1 2023-10-01 2024-09-30 13131712 core:Subsidiary1 1 2023-10-01 2024-09-30 13131712 core:Subsidiary1 countries:AllCountries 2023-10-01 2024-09-30 13131712 countries:AllCountries 2023-10-01 2024-09-30 13131712 2023-09-30 13131712 core:CostValuation 2023-09-30 13131712 core:LandBuildings 2023-09-30 13131712 2022-10-01 2023-09-30 13131712 2023-09-30 13131712 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-09-30 13131712 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-09-30 13131712 bus:OrdinaryShareClass3 bus:Non-cumulativeShares 2023-09-30 13131712 bus:PreferenceShareClass1 bus:CumulativeRedeemableShares 2023-09-30 13131712 core:RetainedEarningsAccumulatedLosses 2023-09-30 13131712 core:RevaluationReserve 2023-09-30 13131712 core:ShareCapital 2023-09-30 13131712 core:CurrentFinancialInstruments 2023-09-30 13131712 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13131712 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 13131712 core:MoreThanFiveYears 2 2023-09-30 13131712 core:LandBuildings 2023-09-30 13131712 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-30 13131712 core:Subsidiary1 1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13131712

Jims Carpets Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Jims Carpets Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Jims Carpets Holdings Limited

(Registration number: 13131712)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

3,932,331

 

4,047,168

Investments

5

 

838,528

 

838,528

   

4,770,859

 

4,885,696

Current assets

   

 

Debtors

6

10,102

 

42,324

 

Cash at bank and in hand

 

15,361

 

10,181

 

 

25,463

 

52,505

 

Creditors: Amounts falling due within one year

7

(200,079)

 

(209,160)

 

Net current liabilities

   

(174,616)

 

(156,655)

Total assets less current liabilities

   

4,596,243

 

4,729,041

Creditors: Amounts falling due after more than one year

7

 

(2,275,384)

 

(2,352,581)

Provisions for liabilities

 

(291,000)

 

(295,000)

Net assets

   

2,029,859

 

2,081,460

Capital and reserves

   

 

Called up share capital

8

419,317

 

419,317

 

Revaluation reserve

805,097

 

805,097

 

Retained earnings

805,445

 

857,046

 

Shareholders' funds

   

2,029,859

 

2,081,460

 

Jims Carpets Holdings Limited

(Registration number: 13131712)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

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 Board on 17 March 2025 and signed on its behalf by:
 

.........................................
S E Walker
Director

 

Jims Carpets Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 2
Orion Way
off Far Lane
Leeds
LS9 0AR

These financial statements were authorised for issue by the Board on 17 March 2025.

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 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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These 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.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned..

Group accounts not prepared

The company is exempt from preparing group accounts as the group is small.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises management charges and rent receivable. Turnover is shown net of value added tax.

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.

 

Jims Carpets Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and 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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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 cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% 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.

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.

 

Jims Carpets Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Jims Carpets Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2023

4,214,498

4,214,498

At 30 September 2024

4,214,498

4,214,498

Depreciation

At 1 October 2023

167,330

167,330

Charge for the year

114,837

114,837

At 30 September 2024

282,167

282,167

Carrying amount

At 30 September 2024

3,932,331

3,932,331

At 30 September 2023

4,047,168

4,047,168

Included within the net book value of land and buildings above is £3,932,331 (2023 - £4,047,168) in respect of freehold land and buildings.
 

5

Investments

2024
£

2023
£

Investments in subsidiaries

838,528

838,528

Subsidiaries

£

Cost or valuation

At 1 October 2023

838,528

Carrying amount

At 30 September 2024

838,528

At 30 September 2023

838,528

 

Jims Carpets Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Details of undertakings

Details of the investments 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

Jims Carpets Limited

England & Wales

Ordinary A, B & C shares, and redeemable preference shares

100%

100%

Subsidiary undertakings

Jims Carpets Limited

The principal activity of Jims Carpets Limited is carpets and flooring fitters and suppliers.

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,000

10,000

Amounts owed by group undertakings

-

32,063

Prepayments

78

73

Other debtors

24

188

 

10,102

42,324

7

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

79,398

150,483

Trade creditors

18

-

Amounts owed to group undertakings

63,323

-

Taxation and social security

19,000

10,000

Accruals and deferred income

13,187

36,101

Other creditors

25,153

12,576

200,079

209,160

Creditors include bank loans and overdrafts of £79,398 (2023 - £74,733) which are secured by fixed and floating charges on the freehold properties.

 

Jims Carpets Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Due after one year

Bank borrowings

1,856,173

1,933,370

Redeemable preference shares

419,211

419,211

2,275,384

2,352,581

2024
£

2023
£

Due after more than five years

After more than five years not by instalments

1,160,000

1,160,000

1,160,000

1,160,000

-

-

Creditors include bank loans of £1,856,173 (2023- £1,933,370l) which are secured by fixed and floating charges on the freehold properties.

Creditors include bank loans repayable by instalments of £324,117 (2023 - £423,176) due after more than five years.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A ordinary shares of £1 each

50

50

50

50

B ordinary shares of £1 each

6

6

6

6

C ordinary shares of £1 each

50

50

50

50

Preference shares of £1 each

419,211

419,211

419,211

419,211

419,317

419,317

419,317

419,317

9

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Amounts payable to related party

75,750