Company registration number 08369327 (England and Wales)
JNCC HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2025
PAGES FOR FILING WITH REGISTRAR
JNCC HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
JNCC HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JNCC HOLDINGS LIMITED FOR THE YEAR ENDED 30 MAY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JNCC Holdings Limited for the year ended 30 May 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of JNCC Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JNCC Holdings Limited and state those matters that we have agreed to state to the board of directors of JNCC Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JNCC Holdings Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that JNCC Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JNCC Holdings Limited. You consider that JNCC Holdings Limited 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 financial statements of JNCC Holdings Limited. 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 financial statements.
Ormerod Rutter Limited
25 July 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
JNCC HOLDINGS LIMITED
BALANCE SHEET
AS AT 30 MAY 2025
30 May 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
60,915
50,105
Investment property
5
1,500,000
1,500,000
Investments
4
100
100
1,561,015
1,550,205
Current assets
Debtors
6
56,600
51,868
Cash at bank and in hand
291,090
272,660
347,690
324,528
Creditors: amounts falling due within one year
7
(193,200)
(176,733)
Net current assets
154,490
147,795
Total assets less current liabilities
1,715,505
1,698,000
Provisions for liabilities
8
(189,290)
(187,104)
Net assets
1,526,215
1,510,896
Capital and reserves
Called up share capital
9
200
200
Other reserves
545,980
545,980
Profit and loss reserves
980,035
964,716
Total equity
1,526,215
1,510,896
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 May 2025 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JNCC HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 MAY 2025
30 May 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
Mrs C M Jay
Mr C M Jay
Director
Director
Company registration number 08369327 (England and Wales)
JNCC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2025
- 4 -
1
Accounting policies
Company information
JNCC Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Just Nice House, Millers Road, Warwick, Warwickshire, CV34 5AE.
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 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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.
Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvements to property
10% on cost
Fixtures and fittings
20% on reducing balance
1.4
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. The surplus or deficit on revaluation is recognised in profit or loss.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
1.5
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.
JNCC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2025
1
Accounting policies
(Continued)
- 5 -
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
4
2
JNCC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2025
- 6 -
3
Tangible fixed assets
Improvements to property
Fixtures and fittings
Total
£
£
£
Cost
At 31 May 2024
32,955
26,545
59,500
Additions
20,404
20,404
At 30 May 2025
32,955
46,949
79,904
Depreciation and impairment
At 31 May 2024
3,295
6,100
9,395
Depreciation charged in the year
3,296
6,298
9,594
At 30 May 2025
6,591
12,398
18,989
Carrying amount
At 30 May 2025
26,364
34,551
60,915
At 30 May 2024
29,660
20,445
50,105
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
100
100
5
Investment property
2025
£
Fair value
At 31 May 2024 and 30 May 2025
1,500,000
The directors have assessed the market value of the properties and consider that there has been no significant change in the market value at the year end.
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
22,365
7,293
Other debtors
34,235
44,575
56,600
51,868
JNCC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
80
Amounts owed to group undertakings
96,159
90,450
Taxation and social security
28,477
24,390
Other creditors
68,564
61,813
193,200
176,733
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
189,290
187,104
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
Ordinary A of £1 each
100
100
100
100
200
200
200
200
10
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
11
Ultimate controlling party
The ultimate controlling party is Mr C M Jay and Mrs C M Jay.