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COMPANY REGISTRATION NUMBER: 10575431
J Holtby Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2025
J Holtby Limited
Financial Statements
Year ended 31 January 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
J Holtby Limited
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
483,993
496,717
Current assets
Debtors
6
8,327
4,003
Cash at bank and in hand
12,411
36,032
--------
--------
20,738
40,035
Creditors: amounts falling due within one year
7
132,450
153,305
----------
----------
Net current liabilities
111,712
113,270
----------
----------
Total assets less current liabilities
372,281
383,447
Creditors: amounts falling due after more than one year
8
364,972
358,892
Provisions
961
3,379
----------
----------
Net assets
6,348
21,176
----------
----------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
2,492
14,359
Profit and loss account
3,756
6,717
-------
--------
Shareholders funds
6,348
21,176
-------
--------
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 income statement has not been delivered.
For the 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 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 Holtby Limited
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 7 May 2025 , and are signed on behalf of the board by:
Mr J N Holtby
Director
Company registration number: 10575431
J Holtby Limited
Notes to the Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Highcroft, Cherry Burton, Beverley, East Yorkshire, HU17 7SG.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by 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.
(b) Going concern
The UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognsied only to the extent that expenses recognised are recoverable. Income from rents receivable is recognised in accordance with the agreed terms of the relevant lease agreements.
(d) Current and deferred 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 be paid or recovered 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.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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.
(f) 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:
Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance
(g) Impairment of fixed assets
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.
(h) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(i) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to 2 (2024: 2 ).
5. Tangible assets
Investment properties
Motor vehicles
Office equipment
Total
£
£
£
£
Cost/Valuation
At 1 February 2024
493,289
12,240
1,458
506,987
Revaluations
( 11,867)
( 11,867)
----------
--------
-------
----------
At 31 January 2025
481,422
12,240
1,458
495,120
----------
--------
-------
----------
Depreciation
At 1 February 2024
9,335
935
10,270
Charge for the year
726
131
857
----------
--------
-------
----------
At 31 January 2025
10,061
1,066
11,127
----------
--------
-------
----------
Carrying amount
At 31 January 2025
481,422
2,179
392
483,993
----------
--------
-------
----------
At 31 January 2024
493,289
2,905
523
496,717
----------
--------
-------
----------
Tangible assets held at valuation
The investment properties were valued in January 2025 by the directors who have experience in the location and category of the investment properties being valued.
6. Debtors
2025
2024
£
£
Other debtors
8,327
4,003
-------
-------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,944
1,799
Directors loan account
130,506
151,506
----------
----------
132,450
153,305
----------
----------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
364,972
358,892
----------
----------
The bank loans are secured by a charge over the associated assets.
Included within creditors: amounts falling due after more than one year is an amount of £364,972 (2024: £358,892) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
9. Related party transactions
During the year the directors made available interest free loans to the company which are repayable on demand . As at 31 January 2025 the total balance owed to the directors was £ 130,506 (2024: £ 151,506 ).