John Handley (Construction) Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06771668

JOHN HANDLEY (CONSTRUCTION) LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

JOHN HANDLEY (CONSTRUCTION) LTD

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	4		500,000		450,000

CURRENT ASSETS

Cash at bank and in hand	4,993		6,596

CREDITORS: amounts falling due within one year	5	28,511		36,787
		---------		---------
NET CURRENT LIABILITIES			23,518		30,191
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			476,482		419,809

PROVISIONS

Taxation including deferred tax	69,998	57,498
	----------	----------
NET ASSETS	406,484	362,311
	----------	----------

JOHN HANDLEY (CONSTRUCTION) LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

	2024		2023
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	1,000	1,000
Revaluation reserve	209,995	172,495
Profit and loss account	195,489	188,816
	----------	----------
SHAREHOLDERS FUNDS	406,484	362,311
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mrs S F Illingworth

Director

Company registration number: 06771668

JOHN HANDLEY (CONSTRUCTION) LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent net of Value Added Tax where applicable and the sale of property. Revenue from rent or from the sale of a development is recognised when the significant risks and rewards of ownership of the property or lease have transferred to the buyer or leasee, usually on exchange of contracts or signing of a lease and the amount of revenue can be measured reliably and it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is revalued to its fair value at each reporting date, and any change in fair value is recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. TANGIBLE ASSETS

	Investment property
	£
Cost or valuation
At 1 January 2024	450,000
Revaluations	50,000
	----------
At 31 December 2024	500,000
	----------
Depreciation
At 1 January 2024 and 31 December 2024	–
	----------
Carrying amount
At 31 December 2024	500,000
	----------
At 31 December 2023	450,000
	----------

The investment property was valued by the directors on the 31 December 2024, using the return on investment and the estimated market value to reach a fair value for this property. Based on current market conditions, the directors do not consider there has been a small increase in value.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 31 December 2024
Aggregate cost	220,007
Aggregate depreciation	–
	----------
Carrying value	220,007
	----------

At 31 December 2023
Aggregate cost	220,007
Aggregate depreciation	–
	----------
Carrying value	220,007
	----------

5. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	1,921	2,750
Other creditors	26,590	34,037
	---------	---------
	28,511	36,787
	---------	---------

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors had a loan account with the company. The balance was in credit throughout the year, the loan is repayable on demand and interest free. The amounts outstanding at the year end was £24,364 (2023 - £31,849)