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Registration number: 06457402

Jordan Halstead Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Jordan Halstead Properties Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Jordan Halstead Properties Ltd

Company Information

Director

Mr Jordan Halstead

Registered office

York House
20 York Street
Manchester
M2 3BB

Accountants

Williamson Croft Accountants Limited
Chartered Certified AccountantsYork House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Jordan Halstead Properties Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jordan Halstead Properties Ltd for the year ended 30 June 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Jordan Halstead Properties Ltd, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Jordan Halstead Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Jordan Halstead Properties Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jordan Halstead Properties Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jordan Halstead Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jordan Halstead Properties Ltd. You consider that Jordan Halstead Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Jordan Halstead Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

25 June 2025

 

Jordan Halstead Properties Ltd

(Registration number: 06457402)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

848,562

867,526

Tangible assets

5

462,027

532,327

Investments

6

3

4

 

1,310,592

1,399,857

Current assets

 

Debtors

7

884,746

1,336,248

Cash at bank and in hand

 

330

39,884

 

885,076

1,376,132

Creditors: Amounts falling due within one year

8

(1,838,030)

(2,265,811)

Net current liabilities

 

(952,954)

(889,679)

Total assets less current liabilities

 

357,638

510,178

Creditors: Amounts falling due after more than one year

8

(173,277)

(233,555)

Provisions for liabilities

(91,753)

(82,281)

Net assets

 

92,608

194,342

Capital and reserves

 

Called up share capital

9

15,003

15,003

Retained earnings

77,605

179,339

Shareholders' funds

 

92,608

194,342

For the financial 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.

Director's 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 director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

 

Jordan Halstead Properties Ltd

(Registration number: 06457402)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 25 June 2025
 

.........................................
Mr Jordan Halstead
Director

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
York House
20 York Street
Manchester
M2 3BB
United Kingdom

These financial statements were authorised for issue by the director on 25 June 2025.

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 presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Group accounts not prepared

The company is part of a small group. The group has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Tax

The tax expense for the period comprises current and deferred 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.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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 and Fixtures

15% Reducing balance

Computer & Equipments

15% Reducing balance

Motor vehicles

25% Reducing balance

Leasehold Improvements

Over the life of the lease

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill and other intangibles

Straight line over 10 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 54 (2023 - 52).

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill and other intangibles
 £

Total
£

Cost or valuation

At 1 July 2023

1,089,639

1,089,639

Additions acquired separately

100,000

100,000

At 30 June 2024

1,189,639

1,189,639

Amortisation

At 1 July 2023

222,113

222,113

Amortisation charge

118,964

118,964

At 30 June 2024

341,077

341,077

Carrying amount

At 30 June 2024

848,562

848,562

At 30 June 2023

867,526

867,526

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

288,242

377,644

154,402

820,288

Additions

-

37,067

16,548

53,615

At 30 June 2024

288,242

414,711

170,950

873,903

Depreciation

At 1 July 2023

28,007

233,612

26,342

287,961

Charge for the year

65,875

23,957

34,083

123,915

At 30 June 2024

93,882

257,569

60,425

411,876

Carrying amount

At 30 June 2024

194,360

157,142

110,525

462,027

At 30 June 2023

260,235

144,032

128,060

532,327

Included within the net book value of land and buildings above is £194,360 (2023 - £260,234) in respect of leasehold improvements.
 

6

Investments

2024
£

2023
£

Investments in subsidiaries

3

4

Subsidiaries

£

Cost or valuation

At 1 July 2023

4

Disposals

(1)

At 30 June 2024

3

Provision

Carrying amount

At 30 June 2024

3

At 30 June 2023

4

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

77,088

517,371

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

61,204

11,104

Prepayments

 

176,584

403,421

Other debtors

 

569,870

404,352

 

884,746

1,336,248

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

274,521

89,374

Trade creditors

 

585,753

1,066,989

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

220,867

-

Taxation and social security

 

325,429

328,932

Accruals and deferred income

 

10,756

73,619

Other creditors

 

420,704

706,897

 

1,838,030

2,265,811

Loans and borrowings include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £113,230 (2023 - £44,074).

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

173,277

233,555

Loans and borrowings include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £98,053 (2023 - £112,225).

 

Jordan Halstead Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

15,003

15,003

15,003

15,003

       

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £435,431 (2023 - £554,891). This balance relates to the undiscounted minimum future payments due under non-cancellable operating leases, no security has been provided.

11

Related party transactions

As at the year end there were amounts totalling £47,592 (2023: £33,641) owed from the director. The amounts provided are unsecured and repayable on demand.

12

Parent and ultimate parent undertaking

The company's immediate parent is Jordan Halstead Holdings Ltd, incorporated in England and Wales.