REGISTERED NUMBER: 01292738 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

JAMES ANDREW INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J H Grey

M Kleinman

H M Soning

A S F Soning

A M Soning

J H L Weston

REGISTERED OFFICE:

72/75 Marylebone High Street

London

W1U 5JW

REGISTERED NUMBER:

01292738 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

BANKERS:

Coutts & Co

440 Strand

London

WC2R 0QS

SOLICITORS:

Kingsley Napley LLP

20 Bonhill Street

London

EC2 4DN

FIXED ASSETS

Tangible assets

4

64,753

59,969

Investments

5

-

-

64,753

59,969

CURRENT ASSETS

Stocks

434,915

731,195

Debtors

6

417,467

335,736

Cash at bank and in hand

74,159

182,473

926,541

1,249,404

CREDITORS

Amounts falling due within one year

7

(4,076,409

)

(4,035,465

)

NET CURRENT LIABILITIES

(3,149,868

)

(2,786,061

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,085,115

)

(2,726,092

)

CREDITORS

Amounts falling due after more than one year

8

(10,000

)

(22,500

)

NET LIABILITIES

(3,095,115

)

(2,748,592

)

CAPITAL AND RESERVES

Called up share capital

10

50,000

50,000

Retained earnings

(3,145,115

)

(2,798,592

)

SHAREHOLDERS' FUNDS

(3,095,115

)

(2,748,592

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

H M Soning - Director

1.	STATUTORY INFORMATION

James Andrew International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 72/75 Marylebone High Street, London, W1U 5JW.

2.	ACCOUNTING POLICIES

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 requirement 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. The principal accounting policies adopted are set out below.

Going concern

The company has net liabilities of £3,095,115 (2023: £2,748,592) and is dependent upon the financial support of its related undertaking Redington Estates Limited, which at the balance sheet date, was owed £2,605,274 (2023: £2,639,360) and has given written confirmation that it will continue to provide financial support if and when required, and will not withdraw the existing support without first ensuring that the company's continuing operations will not be adversely affected.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and will have sufficient working capital on a day to day basis to meet its liabilities as they fall due for the foreseeable future. In the opinion of the directors, the preparation of the financial statements on the going concern basis is therefore appropriate.

The directors acknowledge however that there is a material uncertainty related to the above, particularly in the current climate on operations and financial performance which may cast significant doubts on the company's ability to continue as a going concern. In the event that the going concern basis is no longer appropriate, adjustments would be required to the financial statements including writing down assets to their recoverable value and providing for any further liabilities that may arise. It is not practical to quantify such adjustments.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue on contracts are recognised in the accounts on the basis of work completed at the balance sheet date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Stocks

Stock and work in progress is recognised on a deal by deal basis. Contingent fees are recognised once the required outcome or event has occurred or the amount of revenue can be measured reliably and it is probable that the economic benefit will flow to the company

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more

representative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash at bank and in hand

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 October 2023

65,597

173,337

238,934

Additions

2,014

35,000

37,014

Disposals

-

(72,837

)

(72,837

)

At 30 September 2024

67,611

135,500

203,111

DEPRECIATION

At 1 October 2023

48,070

130,895

178,965

Charge for year

4,886

16,700

21,586

Eliminated on disposal

-

(62,193

)

(62,193

)

At 30 September 2024

52,956

85,402

138,358

NET BOOK VALUE

At 30 September 2024

14,655

50,098

64,753

At 30 September 2023

17,527

42,442

59,969

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST

At 1 October 2023

and 30 September 2024

135,417

PROVISIONS

At 1 October 2023

and 30 September 2024

135,417

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

239,487

191,578

Other debtors

177,980

144,158

417,467

335,736

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade creditors

304,838

265,135

Taxation and social security

91,707

118,269

Other creditors

3,679,864

3,652,061

4,076,409

4,035,465

The assets of the company are secured by way of a fixed and floating charge in favour of a related company.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Other borrowings

10,000

22,500

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.9.24

30.9.23

£

£

Within one year

-

27,712

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

£

50,000

Ordinary share capital

£1

50,000

50,000

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount of £25,156 (2023: £23,559) owed by directors to the company.

12.	RELATED PARTY DISCLOSURES

Included in the Profit and Loss account are amounts of £130,000 (2023: £130,000) receivable in respect of management charges from the companies listed below:

30.9.24

30.9.23

£

£

James Andrew Robinson Somerston Warner Limited

100,000

100,000

Redington Estates Limited

30,000

30,000

130,000

130,000

The analysis of amounts owed by and to related undertakings is as follows:

Included in creditors - amounts owed to related parties

At

At

01.10.2023

Movement

Write off

30.09.2024

£

£

£

£

Redington Estates Limited

2,652,907

(47,633

)

-

2,605,274

The James Andrew Badger Pension Scheme

55,526

11,898

-

67,424

James Andrew Residential Limited

10,000

-

-

10,000

2,718,433

(35,735

)

2,682,698

The assets of the company are secured by way of a fixed and floating charge in favour of a related company.

Included in long term creditors - amounts owed to related parties due after more than one year

At

At

01.10.2023

Movement

Write off

30.09.2024

£

£

£

£

James Andrew Residential Limited

22,500

(12,500

)

-

10,000

22,500

(12,500

)

-

10,000

One of the directors has a material interest in the above entities.