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REGISTERED NUMBER: 01174051 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

J & A Speakman Limited

J & A Speakman Limited (Registered number: 01174051)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J & A Speakman Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: N C Speakman
D Cavanagh
N Ttarou





REGISTERED OFFICE: 33 Welbeck Street
London
W1G 8EX





REGISTERED NUMBER: 01174051 (England and Wales)





AUDITORS: Xeinadin Audit Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

J & A Speakman Limited (Registered number: 01174051)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 9,908,737 8,826,200
Investment property 5 3,693,714 3,576,683
13,602,451 12,402,883

CURRENT ASSETS
Debtors 6 31,604 58,398
Cash at bank 419,689 710,073
451,293 768,471
CREDITORS
Amounts falling due within one year 7 508,645 739,033
NET CURRENT (LIABILITIES)/ASSETS (57,352 ) 29,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,545,099

12,432,321

PROVISIONS FOR LIABILITIES 2,525,600 2,258,700
NET ASSETS 11,019,499 10,173,621

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 6,164,146 5,450,479
Fair value reserve 2,523,042 2,436,011
Retained earnings 2,322,311 2,277,131
SHAREHOLDERS' FUNDS 11,019,499 10,173,621

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2025 and were signed on its behalf by:





N Ttarou - Director


J & A Speakman Limited (Registered number: 01174051)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

J & A Speakman Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

These financial statements are presented in sterling and are rounded to the nearest £1.

The company is part of a group.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
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.

Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Tangible fixed assets
Tangible fixed assets comprise plant and machinery and freehold land.

Plant and machinery is initially measured at cost. After initial recognition, plant and machinery is measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at 15% on reducing balance, in order to write off each asset over its estimated useful life:

Freehold land is shown at fair value under the revaluation model. Gains are recognised in the statement of comprehensive income and subsequently transferred to the revaluation reserve. Deferred tax is provided on these gains at the rate expected to apply when the land is sold.

Investment property
Investment properties are included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

J & A Speakman Limited (Registered number: 01174051)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

Going concern
The financial statements have been prepared on the going concern basis which assumes the continued support of the group. The directors have confirmed that this support will continue for at least 12 months from the date of approval of these financial statements and therefore believe that no adjustments relating to the company's ability to continue as a going concern need to be made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 8,823,317 10,560 8,833,877
Additions 132,302 - 132,302
Revaluations 950,667 - 950,667
At 31 December 2024 9,906,286 10,560 9,916,846
DEPRECIATION
At 1 January 2024 - 7,677 7,677
Charge for year - 432 432
At 31 December 2024 - 8,109 8,109
NET BOOK VALUE
At 31 December 2024 9,906,286 2,451 9,908,737
At 31 December 2023 8,823,317 2,883 8,826,200

J & A Speakman Limited (Registered number: 01174051)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 7,425,127 - 7,425,127
Valuation in 2023 (354,647 ) - (354,647 )
Valuation in 2024 950,667 - 950,667
Cost 1,885,139 10,560 1,895,699
9,906,286 10,560 9,916,846

If the freehold land had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,885,139 1,752,837

Freehold land was valued at its market value on the assumption of full vacant possession on 31 December 2024 by Savills plc.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 3,576,683
Revaluations 117,031
At 31 December 2024 3,693,714
NET BOOK VALUE
At 31 December 2024 3,693,714
At 31 December 2023 3,576,683

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2022 3,328,940
Valuation in 2023 (254,930 )
Valuation in 2024 117,031
Cost 502,673
3,693,714

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 502,673 502,673

J & A Speakman Limited (Registered number: 01174051)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. INVESTMENT PROPERTY - continued

Investment properties were valued at their market value on the assumption of full vacant possession on 31 December 2024 by Savills plc.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 12,962
Other debtors 31,604 45,436
31,604 58,398

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,710 30,555
Amounts owed to group undertakings 459,028 649,041
Taxation and social security 13,090 -
Other creditors 34,817 59,437
508,645 739,033

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrea Kaley (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

9. RELATED PARTY DISCLOSURES

At the balance sheet date £459,028 (2023: £649,041) is owed to LSL MHF Ltd. This amount is included in short term creditors, is unsecured, interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent is LSL MHF Ltd and its ultimate parent is LSL MHF Cirrus Ltd, both of which are registered in England and Wales. The registered office of both parents is 33 Welbeck Street, London, W1G 8EX. There is no ultimate controlling party.