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COMPANY REGISTRATION NUMBER: 11067232
J Lawes (Holdings) Limited
Unaudited financial statements
30 September 2024
J Lawes (Holdings) Limited
Statement of financial position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
912,542
860,000
Investments
6
100
100
---------
---------
912,642
860,100
Current assets
Debtors
7
176,647
84,507
Cash at bank and in hand
385,657
599,984
---------
---------
562,304
684,491
Creditors: Amounts falling due within one year
8
( 138,102)
( 193,984)
---------
---------
Net current assets
424,202
490,507
-----------
-----------
Total assets less current liabilities
1,336,844
1,350,607
-----------
-----------
Net assets
1,336,844
1,350,607
-----------
-----------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
33,399
33,399
Profit and loss account
1,303,345
1,317,108
-----------
-----------
Shareholders funds
1,336,844
1,350,607
-----------
-----------
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 income and retained earnings has not been delivered.
For the year ending 30 September 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 .
J Lawes (Holdings) Limited
Statement of financial position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
L A Lawes
Director
Company registration number: 11067232
J Lawes (Holdings) Limited
Notes to the financial statements
Year ended 30 September 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 First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA. The company's trading address is Finbows Yard, Station Road, Bacton, Stowmarket, Suffolk, IP14 4NH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Leasehold property
-
2% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 2 (2023: 2 ).
5. Tangible assets
Investment properties
Leasehold property
Total
£
£
£
Cost
At 1 October 2023
860,000
860,000
Transfers
62,550
62,550
---------
-------
---------
At 30 September 2024
860,000
62,550
922,550
---------
-------
---------
Depreciation
At 1 October 2023
Transfers
10,008
10,008
---------
-------
---------
At 30 September 2024
10,008
10,008
---------
-------
---------
Carrying amount
At 30 September 2024
860,000
52,542
912,542
---------
-------
---------
At 30 September 2023
860,000
860,000
---------
-------
---------
The directors have revalued the investment properties to their fair value at the year end date based on their open market value.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment properties
£
At 30 September 2024
Aggregate cost
887,364
Aggregate depreciation
---------
Carrying value
887,364
---------
At 30 September 2023
Aggregate cost
887,364
Aggregate depreciation
---------
Carrying value
887,364
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 October 2023 and 30 September 2024
100
----
Impairment
At 1 October 2023 and 30 September 2024
----
Carrying amount
At 30 September 2024
100
----
At 30 September 2023
100
----
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
171,448
79,308
Other debtors
5,199
5,199
---------
-------
176,647
84,507
---------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Social security and other taxes
1,698
716
Other creditors
136,404
193,268
---------
---------
138,102
193,984
---------
---------