REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
JBOS Holdings Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
JBOS Holdings Limited |
JBOS Holdings Limited (Registered number: 06272813) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 9 |
JBOS Holdings Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Building 1 |
St. Cross Chambers |
Upper Marsh Lane |
Hoddesdon |
Hertfordshire |
EN11 8LQ |
JBOS Holdings Limited (Registered number: 06272813) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
JBOS Holdings Limited (Registered number: 06272813) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
JBOS Holdings Limited (Registered number: 06272813) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
JBOS Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced rent receivable and work done, excluding value added tax. |
Tangible fixed assets |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
JBOS Holdings Limited (Registered number: 06272813) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year) including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
Judgements and key sources of estimation uncertainty |
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. |
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, if the revision effects only that period, or in the period of the revision and future periods, if the revision effects both current and future periods. |
The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
JBOS Holdings Limited (Registered number: 06272813) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | 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 2010 | 136,616 |
Valuation in 2011 | (50,000 | ) |
Valuation in 2015 | 100,000 |
Valuation in 2018 | 50,000 |
Valuation in 2020 | 50,000 |
Valuation in 2021 | 100,000 |
Cost | 713,384 |
1,100,000 |
If Investment Property had not been revalued it would have been included at the following historical cost: |
30.6.24 | 30.6.23 |
£ | £ |
Cost | 713,384 | 713,384 |
Aggregate depreciation | (57,071 | ) | (57,071 | ) |
The property was revalued on the open market during the year and the director believes at 30th June 2024 that this is a fair value. |
JBOS Holdings Limited (Registered number: 06272813) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other debtors |
VAT |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT |
Other creditors |
Directors' current accounts |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans |
The bank borrowing is secured by a legal charge over the Investment Property. |
10. | PROVISIONS FOR LIABILITIES |
30.6.24 | 30.6.23 |
£ | £ |
Deferred tax | 25,820 | 19,931 |
Deferred |
tax |
£ |
Balance at 1 July 2023 |
Provided during year |
Balance at 30 June 2024 |
JBOS Holdings Limited (Registered number: 06272813) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1-00 | 100 | 100 |
Ordinary B | £1.00 | 40 | 40 |
140 | 140 |
12. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 July 2023 | 881,155 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 June 2024 | 916,681 |
13. | RELATED PARTY DISCLOSURES |
During the year, the Investment Property was rented to Marcoe Electrical Limited a company of which M S Crilley is a director. The rent receivable amounted to £117,800 (2023 - £117,800). At the year end the balance of £73,763 (2023 - £73,763) was due to Marcoe Electrical Limited, which relates to the rent deposit received. |
The total amount of dividends voted for the year to the director and shareholders totalled £25,000. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is M S Crilley. |
JBOS Holdings Limited |
Report of the Accountants to the Director of |
JBOS Holdings Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2024 set out on pages two to eight and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Building 1 |
St. Cross Chambers |
Upper Marsh Lane |
Hoddesdon |
Hertfordshire |
EN11 8LQ |