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Company No: 12130088 (England and Wales)

JONFICO HOLDINGS LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

JONFICO HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

JONFICO HOLDINGS LTD

BALANCE SHEET

As at 30 June 2024
JONFICO HOLDINGS LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 351,634 351,634
Investments 4 15 15
351,649 351,649
Current assets
Debtors 5 100 567,091
Cash at bank and in hand 6 1,003,675 0
1,003,775 567,091
Creditors: amounts falling due within one year 7 ( 26,642) ( 2,680)
Net current assets 977,133 564,411
Total assets less current liabilities 1,328,782 916,060
Net assets 1,328,782 916,060
Capital and reserves
Called-up share capital 115 115
Profit and loss account 1,328,667 915,945
Total shareholders' funds 1,328,782 916,060

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Jonfico Holdings Ltd (registered number: 12130088) were approved and authorised for issue by the Board of Directors on 20 March 2025. They were signed on its behalf by:

J M Barry
Director
JONFICO HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
JONFICO HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jonfico Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 and after eliminating sales within the company.
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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 July 2023 351,634 351,634
At 30 June 2024 351,634 351,634
Accumulated depreciation
At 01 July 2023 0 0
At 30 June 2024 0 0
Net book value
At 30 June 2024 351,634 351,634
At 30 June 2023 351,634 351,634

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 15
At 30 June 2024 15
Carrying value at 30 June 2024 15
Carrying value at 30 June 2023 15

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 0 566,991
Other debtors 100 100
100 567,091

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,003,675 0

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 22,392 0
Corporation tax 4,250 2,680
26,642 2,680