JHS (Retail) Limited 05147769 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is retail convenience store Digita Accounts Production Advanced 6.30.9574.0 true 05147769 2023-07-01 2024-06-30 05147769 2024-06-30 05147769 bus:OrdinaryShareClass1 2024-06-30 05147769 core:CurrentFinancialInstruments 2024-06-30 05147769 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 05147769 core:Goodwill 2024-06-30 05147769 core:ConstructionInProgressAssetsUnderConstruction 2024-06-30 05147769 core:FurnitureFittings 2024-06-30 05147769 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 05147769 core:MotorVehicles 2024-06-30 05147769 core:OfficeEquipment 2024-06-30 05147769 bus:SmallEntities 2023-07-01 2024-06-30 05147769 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05147769 bus:FilletedAccounts 2023-07-01 2024-06-30 05147769 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05147769 bus:RegisteredOffice 2023-07-01 2024-06-30 05147769 bus:CompanySecretary1 2023-07-01 2024-06-30 05147769 bus:Director2 2023-07-01 2024-06-30 05147769 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 05147769 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05147769 core:Goodwill 2023-07-01 2024-06-30 05147769 core:ConstructionInProgressAssetsUnderConstruction 2023-07-01 2024-06-30 05147769 core:FurnitureFittings 2023-07-01 2024-06-30 05147769 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05147769 core:MotorVehicles 2023-07-01 2024-06-30 05147769 core:OfficeEquipment 2023-07-01 2024-06-30 05147769 core:OtherRelatedParties 2023-07-01 2024-06-30 05147769 countries:EnglandWales 2023-07-01 2024-06-30 05147769 2023-06-30 05147769 core:Goodwill 2023-06-30 05147769 core:ConstructionInProgressAssetsUnderConstruction 2023-06-30 05147769 core:FurnitureFittings 2023-06-30 05147769 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 05147769 core:MotorVehicles 2023-06-30 05147769 core:OfficeEquipment 2023-06-30 05147769 2022-07-01 2023-06-30 05147769 2023-06-30 05147769 bus:OrdinaryShareClass1 2023-06-30 05147769 core:CurrentFinancialInstruments 2023-06-30 05147769 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05147769 core:Goodwill 2023-06-30 05147769 core:ConstructionInProgressAssetsUnderConstruction 2023-06-30 05147769 core:FurnitureFittings 2023-06-30 05147769 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 05147769 core:MotorVehicles 2023-06-30 05147769 core:OfficeEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05147769

JHS (Retail) Limited

trading as Spar Port Talbot

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

JHS (Retail) Limited

trading as Spar Port Talbot

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

JHS (Retail) Limited

trading as Spar Port Talbot

Company Information

Director

Mr T Singh

Company secretary

Mrs J Kaur

Registered office

49 Forge Road
Port Talbot
Neath Port Talbot CB
SA13 1PG

 

JHS (Retail) Limited

trading as Spar Port Talbot

(Registration number: 05147769)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,000

2,000

Tangible assets

5

359,579

344,419

 

361,579

346,419

Current assets

 

Stocks

6

50,500

50,000

Debtors

7

157,118

154,137

Cash at bank and in hand

 

20,177

23,248

 

227,795

227,385

Creditors: Amounts falling due within one year

8

(110,206)

(85,590)

Net current assets

 

117,589

141,795

Total assets less current liabilities

 

479,168

488,214

Provisions for liabilities

(10,782)

(6,923)

Net assets

 

468,386

481,291

Capital and reserves

 

Called up share capital

9

4

4

Retained earnings

468,382

481,287

Shareholders' funds

 

468,386

481,291

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 March 2025
 

 

JHS (Retail) Limited

trading as Spar Port Talbot

(Registration number: 05147769)
Balance Sheet as at 30 June 2024

.........................................
Mr T Singh
Director

 

JHS (Retail) Limited

trading as Spar Port Talbot

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

1

General information

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

The address of its registered office is:
49 Forge Road
Port Talbot
Neath Port Talbot CB
SA13 1PG
United Kingdom

These financial statements were authorised for issue by the director on 4 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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

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 income 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.

 

JHS (Retail) Limited

trading as Spar Port Talbot

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

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

Fixtures and fittings

15% Reducing balance

Office equipment

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Not provided

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

JHS (Retail) Limited

trading as Spar Port Talbot

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

JHS (Retail) Limited

trading as Spar Port Talbot

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 8).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

2,000

2,000

At 30 June 2024

2,000

2,000

Amortisation

Carrying amount

At 30 June 2024

2,000

2,000

At 30 June 2023

2,000

2,000

 

JHS (Retail) Limited

trading as Spar Port Talbot

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

5

Tangible assets

Land and buildings
£

Property Improvements
 £

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

291,250

23,624

87,351

6,644

-

408,869

Additions

-

-

-

191

19,857

20,048

At 30 June 2024

291,250

23,624

87,351

6,835

19,857

428,917

Depreciation

At 1 July 2023

-

-

58,818

5,632

-

64,450

Charge for the year

-

-

4,280

277

331

4,888

At 30 June 2024

-

-

63,098

5,909

331

69,338

Carrying amount

At 30 June 2024

291,250

23,624

24,253

926

19,526

359,579

At 30 June 2023

291,250

23,624

28,533

1,012

-

344,419

Included within the net book value of land and buildings above is £291,250 (2023 - £291,250) in respect of freehold land and buildings.
 

 

JHS (Retail) Limited

trading as Spar Port Talbot

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

6

Stocks

2024
£

2023
£

Other inventories

50,500

50,000

7

Debtors

Current

2024
£

2023
£

Prepayments

-

234

Other debtors

157,118

153,903

 

157,118

154,137

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,476

6,699

Taxation and social security

17,742

25,049

Accruals and deferred income

2,711

3,542

Other creditors

85,277

50,300

110,206

85,590


A legal charge dated 26th July 2004 is held on 49 Forge Road, Port Talbot to secure all Barclays Bank Plc borrowings of the company.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       

10

Related party transactions

Summary of transactions with other related parties

 

JHS (Retail) Limited

trading as Spar Port Talbot

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


Included in other debtors is £154,092 (2023 - £152,092) due from a related party. The amount is interest free and repayable on demand.