Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
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| Tangible assets | 4 |
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| 205,971 | 246,517 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 704,249 | 1,378,382 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 333,671 | 1,096,017 | ||
| Total assets less current liabilities | 539,642 | 1,342,534 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of J Humphrey & Partners Limited (registered number:
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M B Malt
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
J Humphrey & Partners Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 The Bulrushes, Woodstock Way, Boldon Business Park, South Tyneside, NE35 9PF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of J Humphrey & Partners Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
| Goodwill |
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| Leasehold improvements |
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| Plant and machinery |
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| Fixtures and fittings |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
Amounts recoverable on contracts comprises direct labour costs that have been incurred to date on projects. At each reporting date, amounts recoverable on contracts is assessed for impairment. If deemed to be impaired, the carrying amount is reduced to its selling price less costs to complete the project; the impairment loss is recognised immediately in profit or loss.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Goodwill | Total | ||
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| Cost | |||
| At 01 December 2023 |
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| At 30 November 2024 |
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| Accumulated amortisation | |||
| At 01 December 2023 |
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| Charge for the financial year |
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| At 30 November 2024 |
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| Net book value | |||
| At 30 November 2024 |
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| At 30 November 2023 |
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| Leasehold improve- ments |
Plant and machinery | Fixtures and fittings | Total | ||||
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| Cost | |||||||
| At 01 December 2023 |
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| Additions |
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| Disposals | (
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| At 30 November 2024 |
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| Accumulated depreciation | |||||||
| At 01 December 2023 |
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| Charge for the financial year |
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| Disposals | (
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| At 30 November 2024 |
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| Net book value | |||||||
| At 30 November 2024 | 72,591 | 12,744 | 6,886 | 92,221 | |||
| At 30 November 2023 | 76,598 | 26,915 | 8,254 | 111,767 |
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Amounts owed by Parent undertakings |
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| Amounts recoverable on contracts |
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| Prepayments |
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| Corporation tax |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to directors |
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| Accruals |
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| Other taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Obligations under finance leases and hire purchase contracts |
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Parent Company:
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J Humphrey (Holdings) shares are owned 100% by J Humphrey & Partners Trustee Limited.