Company registration number 11009102 (England and Wales)
JSG HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
JSG HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JSG HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
1,347,457
1,330,317
Investments
5
9,990
9,990
1,357,447
1,340,307
Current assets
Cash at bank and in hand
1,055
1,040
Creditors: amounts falling due within one year
6
(435,274)
(579,385)
Net current liabilities
(434,219)
(578,345)
Net assets
923,228
761,962
Capital and reserves
Called up share capital
7
9,990
9,990
Revaluation reserve
400,000
400,000
Profit and loss reserves
513,238
351,972
Total equity
923,228
761,962
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 30 July 2025 and are signed on its behalf by:
Mr J R J Goode
Director
Company registration number 11009102 (England and Wales)
JSG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
JSG Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Good Packing Company Limited, Lichfield Road, Staffs Moor Industrial Estate, Tamworth, United Kingdom, B79 7TJ. The company registration number is 11009102.
1.1
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.
1.2
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities 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.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
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 assets
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
JSG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 January 2024
1,330,317
Additions
17,140
At 31 December 2024
1,347,457
The fair value of the investment property brought forward has been arrived at on the basis of a valuation carried out on 1 March 2022 by Calders Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of 22 February 2022 transaction prices for similar properties. The directors consider there has been no material change to this valuation between the year end date and the date of valuation.
JSG HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
9,990
9,990
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
333,428
461,315
Other creditors
101,846
118,070
435,274
579,385
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary A Shares of £1 each
3,500
3,500
Ordinary B Shares of £1 each
2,995
2,995
Ordinary C Shares of £1 each
500
500
Ordinary D Shares of £1 each
2,995
2,995
9,990
9,990
8
Related party transactions
JSG Holdings Limited owns 100% of the share capital of Good Packing Company Limited and is owned and controlled by the directors of Good Packing Company Limited. At the year end, included in creditors is £333,428 (2023: £461,315) owed to Good Packing Company Limited by means of an intercompany loan