Company registration number 14998754 (England and Wales)
JFL-ROV-HOLDCO LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
JFL-ROV-HOLDCO LTD
CONTENTS
Page
Directors' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 5
JFL-ROV-HOLDCO LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 JULY 2024
- 1 -
The directors present their annual report and financial statements for the Period ended 31 July 2024.
Principal activities
The principal activity of the company is that of an investment holding company.
Directors
The directors who held office during the Period and up to the date of signature of the financial statements were as follows:
William Hanenberg
(Appointed 12 July 2023)
Clark Harman
(Appointed 12 July 2023)
David Rattner
(Appointed 12 July 2023)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
William Hanenberg
Director
11 July 2025
JFL-ROV-HOLDCO LTD
BALANCE SHEET
- 2 -
2024
Notes
£
£
Fixed assets
Investments
4
2,515,062
Current assets
Debtors
5
1
Creditors: amounts falling due within one year
6
(12,515)
Net current liabilities
(12,514)
Net assets
2,502,548
Capital and reserves
Called up share capital
2
Share premium account
2,502,546
Total equity
2,502,548
The notes on pages 4 to 5 form part of these financial statements.
For the financial Period ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 July 2025 and are signed on its behalf by:
William Hanenberg
Director
Company registration number 14998754 (England and Wales)
JFL-ROV-HOLDCO LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2024
- 3 -
Share capital
Share premium account
Total
Notes
£
£
£
Balance at 12 July 2023 (on incorporation)
1
-
1
Period ended 31 July 2024:
Issue of share capital
1
2,502,546
2,502,547
Balance at 31 July 2024
2
2,502,546
2,502,548
The notes on pages 4 to 5 form part of these financial statements.
JFL-ROV-HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information
JFL-ROV-HOLDCO LTD is a private company limited by shares incorporated in England and Wales. The registered office is Agi, Fleets Point, Willis Way, Poole, Dorset, United Kingdom, BH15 3SS.
1.1
Reporting period
The Company's financial year starts 1 August and ends 31 July except for this reporting period. The current reporting period is from the date of incorporation i.e. 12 July 2023 until 31 July 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Fixed asset investments
Interests in equity investments 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.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Basic financial liabilities
Basic financial liabilities, including amounts due to fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
JFL-ROV-HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
3
Employees
(Continued)
- 5 -
The Company has no employees and services required are contracted from third parties. The directors received no remuneration from the Company in respect of qualifying services rendered during the year under review.
The Directors' remuneration for the current year was borne by other affiliated companies. No recharge was made to the Company for the services of the directors in the current year as it is not possible to make an accurate apportionment of emoluments in respect of services to the Company.
4
Fixed asset investments
2024
£
Shares in equity investments
2,515,062
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 12 July 2023
-
Additions
2,515,062
At 31 July 2024
2,515,062
Carrying amount
At 31 July 2024
2,515,062
5
Debtors
2024
Amounts falling due within one year:
£
Other debtors
1
6
Creditors: amounts falling due within one year
2024
£
Amounts owed to group undertakings
12,515