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Company registration number: 13478238
JFH Limited
Unaudited filleted financial statements
30 June 2024
JFH Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
JFH Limited
Directors and other information
Directors Mr Justin Dawtry
Company number 13478238
Registered office Side Farm Nursery
Todwick
Sheffield
S26 1DJ
Accountants Henry Bramall & Co Limited
Unit 8, Acorn Business Park
Woodseats Close
Sheffield
S8 0TB
JFH Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 746,895 746,895
_______ _______
746,895 746,895
Current assets
Debtors 5 - 3,952
Cash at bank and in hand 100 100
_______ _______
100 4,052
Creditors: amounts falling due
within one year 6 ( 121,275) ( 95,196)
_______ _______
Net current liabilities ( 121,175) ( 91,144)
_______ _______
Total assets less current liabilities 625,720 655,751
Creditors: amounts falling due
after more than one year 7 ( 624,955) ( 629,579)
_______ _______
Net assets 765 26,172
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 665 26,072
_______ _______
Shareholders funds 765 26,172
_______ _______
For the 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 February 2025 , and are signed on behalf of the board by:
Mr Justin Dawtry
Director
Company registration number: 13478238
JFH Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Side Farm Nursery, Todwick, Sheffield, S26 1DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Tangible assets
Freehold property Total
£ £
Cost
At 1 July 2023 and 30 June 2024 746,895 746,895
_______ _______
Depreciation
At 1 July 2023 and 30 June 2024 - -
_______ _______
Carrying amount
At 30 June 2024 746,895 746,895
_______ _______
At 30 June 2023 746,895 746,895
_______ _______
5. Debtors
2024 2023
£ £
Other debtors - 3,952
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors - 540
Corporation tax 4,361 6,116
Other creditors 111,914 83,540
_______ _______
121,275 95,196
_______ _______
Other creditors include an interest free loan from the director amounting to £70,000.
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 418,455 410,079
Other creditors 206,500 219,500
_______ _______
624,955 629,579
_______ _______
The business loan is secured. The first legal charge is over the property Side Farm Nursery. Supporting security is a personal guarantee from the director limited to £75,000.