J F Hornby Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06880956 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

J F HORNBY LIMITED

TRADING AS

J F HORNBY & CO

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J F Hornby

Mr P Hornby

REGISTERED OFFICE:

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

REGISTERED NUMBER:

06880956 (England and Wales)

ACCOUNTANTS:

J F Hornby & Co

Chartered Accountants

The Tower

Daltongate Business Centre

Daltongate

Ulverston

Cumbria

LA12 7AJ

BANKERS:

National Westminster Bank plc

113 Dalton Road

Barrow in Furness

Cumbria

LA14 1WY

FIXED ASSETS

Intangible assets

4

3,236,766

3,111,520

Tangible assets

5

11,437

6,222

Investments

6

1,801,146

1,649,939

5,049,349

4,767,681

CURRENT ASSETS

Stocks

624,085

614,898

Debtors

767,800

747,710

Prepayments and accrued income

96,500

79,256

Cash at bank and in hand

183,142

126,343

1,671,527

1,568,207

CREDITORS

Amounts falling due within one year

321,807

343,586

NET CURRENT ASSETS

1,349,720

1,224,621

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,399,069

5,992,302

CAPITAL AND RESERVES

Called up share capital

8

Share premium

1,172,360

Revaluation reserve

2,241,063

2,115,817

Retained earnings

2,985,638

2,704,117

SHAREHOLDERS' FUNDS

6,399,069

5,992,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

All the members have consented to the preparation of an abridged Profit and Loss Account and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 November 2025 and were signed on its behalf by:

Mr J F Hornby - Director

Mr P Hornby - Director

1.	STATUTORY INFORMATION

J F Hornby 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about J F Hornby Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Turnover

Turnover represents net invoiced sales of services as adjusted for work in progress and accrued income, excluding VAT.

Goodwill

Goodwill is not depreciated.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Computer equipment

-

50% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at charging out rates.

Taxation

Taxation for the year comprises current tax and is recognised in the Profit and Loss Account.

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.and

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 31 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2024

3,111,520

Revaluations

125,246

At 31 March 2025

3,236,766

NET BOOK VALUE

At 31 March 2025

3,236,766

At 31 March 2024

3,111,520

Goodwill has not been depreciated which is a departure from the Financial Reporting Standard 102 and from the Companies Act 2006. Depreciation if provided would not have been of a material nature.

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2024

2,115,817

Valuation in 2025

125,246

Cost

995,703

3,236,766

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

31.3.25

31.3.24

£

Cost

995,703

Goodwill was valued on an open basis basis on 31 March 2025 by the directors .

Intangible assets are initially measured at cost. After initial recognition intangible assets are measured at valuation less any accumulated amortisation and and accumulated impairment losses.

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

151,757

Additions

15,390

At 31 March 2025

167,147

DEPRECIATION

At 1 April 2024

145,535

Charge for year

10,175

At 31 March 2025

155,710

NET BOOK VALUE

At 31 March 2025

11,437

At 31 March 2024

6,222

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2024

and 31 March 2025

2

NET BOOK VALUE

At 31 March 2025

2

At 31 March 2024

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

J F Hornby Group Limited

Registered office: The Tower, Daltongate Business Centre, Ulverston, Cumbria LA12 7AJ

Nature of business: Investment holding company

%

Class of shares:

holding

Ordinary

100.00

31.3.25

31.3.24

£

Aggregate capital and reserves

2

Information on loans is as follows:

Totals

£

At 1 April 2024

1,649,937

Additions

151,207

At 31 March 2025

1,801,144

7.	LEASING AGREEMENTS

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

31.3.25

31.3.24

£

Within one year

60,618

59,980

Between one and five years

214,151

246,049

In more than five years

-

28,720

274,769

334,749

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

3

A ordinary

£1

3

B ordinary

£1

3

1

C ordinary

£1

1

D ordinary

£1

1

8

The holders of the 'C' Ordinary shares and 'D' Ordinary shares are not be entitled to receive notice of, or attend, or vote at any general meeting of the company.

All classes of share rank pari passu with regard to entitlement to dividend except that the directors may at any time resolve to declare different dividends in relation to each class of share and may also resolve to declare a dividend on one or more classes of share and not another class or classes.

On a return of assets on liquidation, reduction of capital or otherwise, the surplus assets of the Company remaining after payment of its liabilities shall be applied:

(i) first in paying the holders of the 'A', 'B', 'C' and 'D' Ordinary shares an amount per share equal to the sum paid up or credited as paid up thereon

(ii) next and subject to (i) hereof, the balance of such assets shall belong to and be distributed amongst the holders of the 'A' and 'B' shares in proportion to the amounts paid up or credited as paid up thereon