3 3 John Hockin (Braunton) Limited 00532325 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of the letting of property. Digita Accounts Production Advanced 6.30.9574.0 true 00532325 2024-02-01 2025-01-31 00532325 2025-01-31 00532325 core:CurrentFinancialInstruments 2025-01-31 00532325 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 00532325 core:FurnitureFittings 2025-01-31 00532325 1 2025-01-31 00532325 bus:SmallEntities 2024-02-01 2025-01-31 00532325 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 00532325 bus:FilletedAccounts 2024-02-01 2025-01-31 00532325 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 00532325 bus:RegisteredOffice 2024-02-01 2025-01-31 00532325 bus:Director1 2024-02-01 2025-01-31 00532325 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 00532325 core:FurnitureFittings 2024-02-01 2025-01-31 00532325 countries:England 2024-02-01 2025-01-31 00532325 1 2024-02-01 2025-01-31 00532325 2024-01-31 00532325 core:FurnitureFittings 2024-01-31 00532325 1 2024-01-31 00532325 2023-02-01 2024-01-31 00532325 2024-01-31 00532325 core:CurrentFinancialInstruments 2024-01-31 00532325 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 00532325 core:FurnitureFittings 2024-01-31 00532325 1 2024-01-31 00532325 1 2023-02-01 2024-01-31 00532325 1 2023-01-31 xbrli:pure iso4217:GBP

Registration number: 00532325

John Hockin (Braunton) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

John Hockin (Braunton) Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

John Hockin (Braunton) Limited

(Registration number: 00532325)
Statement of Financial Position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

306

381

Investment property

5

550,001

550,001

 

550,307

550,382

Current assets

 

Debtors

6

9,894

595

Cash at bank and in hand

 

36,560

33,076

 

46,454

33,671

Creditors: Amounts falling due within one year

7

(6,007)

(6,840)

Net current assets

 

40,447

26,831

Total assets less current liabilities

 

590,754

577,213

Provisions for liabilities

(64,408)

(64,408)

Net assets

 

526,346

512,805

Capital and reserves

 

Called up share capital

2,250

2,250

Profit and loss account

524,096

510,555

Shareholders' funds

 

526,346

512,805

 

John Hockin (Braunton) Limited

(Registration number: 00532325)
Statement of Financial Position as at 31 January 2025 (continued)

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 30 April 2025 and signed on its behalf by:
 


Mr R J Hockin
Director

 

John Hockin (Braunton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is that of the letting of property.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

John Hockin (Braunton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

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 value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fixtures & fittings

12.5% straight line

 

John Hockin (Braunton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

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.

Investment property

Investment property is measured initially 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 within the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

John Hockin (Braunton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2024

10,184

10,184

At 31 January 2025

10,184

10,184

Depreciation

At 1 February 2024

9,803

9,803

Charge for the year

75

75

At 31 January 2025

9,878

9,878

Carrying amount

At 31 January 2025

306

306

At 31 January 2024

381

381

5

Investment properties

2025
£

At 1 February 2024

550,001

At 31 January 2025

550,001

The investment property has been revalued by the directors as at 31 January 2025.

There has been no valuation of investment property by an independent valuer.

6

Debtors

2025
£

2024
£

Other debtors

9,264

-

Prepayments

630

595

9,894

595

 

John Hockin (Braunton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

-

564

Taxation and social security

4,112

3,350

Accruals and deferred income

1,895

1,805

Other creditors

-

1,121

6,007

6,840

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses. Included within this fund are non-distributable funds of £400,387 (2024: £400,387) relating to the revaluation of investment properties.

9

Related party transactions

The loan is interest free and repayable on demand.

Transactions with directors

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

The directors

(1,121)

15,513

(5,128)

9,264

         
       

 

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

The directors

(98)

4,179

(5,202)

(1,121)