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COMPANY REGISTRATION NUMBER: 01150289
JOHAL MUNSHI & CO LIMITED
Filleted Unaudited Financial Statements
31 October 2024
JOHAL MUNSHI & CO LIMITED
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
2,893,129
2,896,876
Investments
5
415,870
512,478
------------
------------
3,308,999
3,409,354
Current assets
Debtors
6
2,594,074
2,062,640
Cash at bank and in hand
428,724
787,641
------------
------------
3,022,798
2,850,281
Creditors: amounts falling due within one year
7
672,731
529,204
------------
------------
Net current assets
2,350,067
2,321,077
------------
------------
Total assets less current liabilities
5,659,066
5,730,431
Creditors: amounts falling due after more than one year
8
1,885,094
2,059,742
------------
------------
Net assets
3,773,972
3,670,689
------------
------------
Capital and reserves
Called up share capital
131,838
131,838
Share premium account
663,370
663,370
Revaluation reserve
1,774,920
1,774,920
Profit and loss account
1,203,844
1,100,561
------------
------------
Shareholders funds
3,773,972
3,670,689
------------
------------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 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 .
JOHAL MUNSHI & CO LIMITED
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 25 July 2025 , and are signed on behalf of the board by:
Johalco Ltd
Director
Company registration number: 01150289
JOHAL MUNSHI & CO LIMITED
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sovereign House, 184 Nottingham Road, Nottingham, NG7 7BA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
-
See note below
Plant and machinery
-
20% straight line
As both freehold and leasehold properties are held for investment purposes, no provision has been made for annual depreciation Instead all properties are subject to annual revaluation by the directors to an open market value.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Freehold property
Long leasehold property
Plant and machinery
Total
£
£
£
£
Cost
At 1 November 2023 and 31 October 2024
2,122,845
794,549
462,779
3,380,173
------------
---------
---------
------------
Depreciation
At 1 November 2023
27,709
455,588
483,297
Charge for the year
3,747
3,747
------------
---------
---------
------------
At 31 October 2024
27,709
459,335
487,044
------------
---------
---------
------------
Carrying amount
At 31 October 2024
2,122,845
766,840
3,444
2,893,129
------------
---------
---------
------------
At 31 October 2023
2,122,845
766,840
7,191
2,896,876
------------
---------
---------
------------
Included within the net book value of Freehold Property and Leasehold Property at 31 October 2024 is Investment Property at a valuation of £2,889,685 (2023 £2,889,685). This valuation was undertaken by the directors at 31 October 2024 on the basis of an open market value.
5. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 November 2023
41,508
961,170
1,002,678
Additions
105,701
105,701
Disposals
( 202,309)
( 202,309)
--------
---------
------------
At 31 October 2024
41,508
864,562
906,070
--------
---------
------------
Impairment
At 1 November 2023 and 31 October 2024
200
490,000
490,200
--------
---------
------------
Carrying amount
At 31 October 2024
41,308
374,562
415,870
--------
---------
------------
At 31 October 2023
41,308
471,170
512,478
--------
---------
------------
The market value of other investments at 31 October 2024 was ££465,765 (2023 £479,577).
6. Debtors
2024
2023
£
£
Trade debtors
151,109
292,332
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,321,825
1,715,683
Other debtors
121,140
54,625
------------
------------
2,594,074
2,062,640
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
174,648
84,318
Trade creditors
127,487
122,462
Amounts owed to group undertakings and undertakings in which the company has a participating interest
289,995
146,319
Corporation tax
67,553
Social security and other taxes
54,508
28,445
Other creditors
26,093
80,107
---------
---------
672,731
529,204
---------
---------
Bank loans and overdrafts are secured on the assets of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,885,094
2,059,742
------------
------------