REGISTERED NUMBER: |
Johnsey Estates Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
Johnsey Estates Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
Johnsey Estates Limited (Registered number: 00972683) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Johnsey Estates Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 King Square |
Bridgwater |
Somerset |
TA6 3YF |
Johnsey Estates Limited (Registered number: 00972683) |
Abridged Statement of Financial Position |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Investment Property |
Revaluation Reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
Johnsey Estates Limited (Registered number: 00972683) |
Abridged Statement of Financial Position - continued |
30 June 2024 |
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 were approved by the Board of Directors and authorised for issue on |
Johnsey Estates Limited (Registered number: 00972683) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Johnsey Estates Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis which the directors believe to be appropriate for the reasons set out below. |
The principal asset of the company is its investment in the subsidiary company Johnsey Estates Property Holdings Limited. The directors consider that this investment is fairly stated at £8,351,790. |
Preparation of consolidated financial statements |
The financial statements contain information about Johnsey Estates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Johnsey Estates Limited (Registered number: 00972683) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 July 2023 | 10,163,928 |
Impairments | (1,812,138 | ) |
At 30 June 2024 | 8,351,790 |
NET BOOK VALUE |
At 30 June 2024 | 8,351,790 |
At 30 June 2023 | 10,163,928 |
Johnsey Estates Limited (Registered number: 00972683) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2018 | 728,700 |
Valuation in 2023 | (25,000 | ) |
Cost | 146,301 |
850,001 |
If Investment property had not been revalued it would have been included at the following historical cost: |
30.6.24 | 30.6.23 |
£ | £ |
Cost | 146,301 | 146,301 |
Investment property was valued on an open market basis on 30 June 2022 by Savills . |
8. | RESERVES |
Investment |
Property |
Revaluation |
Reserve |
£ |
At 1 July 2023 |
and 30 June 2024 |
9. | CONTINGENT LIABILITIES |
Four legal charges were created in prior years over the company's land and buildings in respect of loans taken out by Johnsey Estates UK Limited, the company's previously wholly owned subsidiary and connected parties with this company's consent. Three of these charges were satisfied in full in 2021 and the remaining charge was satisfied in 2023. |
10. | ULTIMATE CONTROLLING PARTY |
The company was controlled throughout the current and previous period by its parent undertakings, Basle Investments Limited and Islay Investments Limited. |