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REGISTERED NUMBER: 00515420 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Jennings of Garsington Limited

Jennings of Garsington Limited (Registered number: 00515420)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jennings of Garsington Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr K J Jennings
Mr M D Jennings
Mr M Lloyd-Williams





REGISTERED OFFICE: Hampden House
Monument Business Park
Chalgrove
Oxford
Oxfordshire
OX44 7RW





REGISTERED NUMBER: 00515420 (England and Wales)





ACCOUNTANTS: Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE

Jennings of Garsington Limited (Registered number: 00515420)

Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 146,059
Investments 6 - 1,000
Investment property 7 - 20,680,000
- 20,827,059

CURRENT ASSETS
Debtors 8 (2,818 ) 202,113
Cash at bank 982,040 118,458
979,222 320,571
CREDITORS
Amounts falling due within one year 9 (965,222 ) (833,029 )
NET CURRENT ASSETS/(LIABILITIES) 14,000 (512,458 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,000

20,314,601

CREDITORS
Amounts falling due after more than
one year

10

-

(2,908,949

)

PROVISIONS FOR LIABILITIES 12 - (1,152,660 )
NET ASSETS 14,000 16,252,992

Jennings of Garsington Limited (Registered number: 00515420)

Balance Sheet - continued
31 December 2024

31/12/24 31/12/23
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 14,000 14,000
Restructuring reserve (1,205,573 ) (1,205,573 )
Fair value reserve 13 - 9,298,681
Retained earnings 1,205,573 8,145,884
14,000 16,252,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





Mr M D Jennings - Director


Jennings of Garsington Limited (Registered number: 00515420)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Jennings of Garsington Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, except as set out below.

The company has ceased trading and will be wound up on a solvent basis. Therefore the going concern basis is not appropriate and all balance sheet items are measured at realisable value as at the period end.

Preparation of consolidated financial statements
The financial statements contain information about Jennings of Garsington Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rental income is recognised in the period to which it relates on an accrual basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Computer software has been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on cost

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.


Jennings of Garsington Limited (Registered number: 00515420)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 19 ) .

Jennings of Garsington Limited (Registered number: 00515420)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 17,240
AMORTISATION
At 1 January 2024
and 31 December 2024 17,240
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 1,711,030
Additions 3,080
Disposals (1,714,110 )
At 31 December 2024 -
DEPRECIATION
At 1 January 2024 1,564,971
Charge for year 42,907
Eliminated on disposal (1,607,878 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 146,059

Jennings of Garsington Limited (Registered number: 00515420)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024 1,000
Disposals (1,000 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 1,000

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 20,680,000
Disposals (20,680,000 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 20,680,000

Fair value of investment properties is calculated by the directors who do not consider that external valuation is required.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 1,675 22,945
Amounts owed by group undertakings - 131,695
Other debtors (4,493 ) 47,473
(2,818 ) 202,113

Jennings of Garsington Limited (Registered number: 00515420)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts - 385,779
Trade creditors (7,630 ) 56,731
Amounts owed to group undertakings 802,146 -
Taxation and social security 189,095 228,031
Other creditors (18,389 ) 162,488
965,222 833,029

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans - 2,908,949

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 yr by instal - 1,345,664

11. SECURED DEBTS

The following secured debts are included within creditors:

31/12/24 31/12/23
£    £   
Bank overdraft - 71,739
Bank loans - 3,222,989
- 3,294,728

The overdraft and bank loans are secured by way of fixed and floating charges over the properties of the company.

12. PROVISIONS FOR LIABILITIES
31/12/24 31/12/23
£    £   
Deferred tax - 1,152,660

Jennings of Garsington Limited (Registered number: 00515420)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 1,152,660
Provided during year (1,152,660 )
Balance at 31 December 2024 -

The deferred tax provison set out above relates to accelerated capital allowances and fair value gain expected on the investment properties held.

13. RESERVES

Restructuring reserve has been created by virtue of transfer of investment properties to a group company during the year ended 31st December 2020.

14. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Contributions payable to the fund at the year end and included in creditors were £NIL : (£4,955 in 2023).

15. PARENT COMPANY

During the year the company was controlled by J W Jennings Limited by virtue of its majority shareholding.