REGISTERED NUMBER: 01897208 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Joseph House (Reedham) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

5

2,115,628

2,123,547

Current assets

Stocks

20,000

20,000

Debtors

6

477,274

513,743

Cash at bank and in hand

54,564

2,158

551,838

535,901

Creditors

Amounts falling due within one year

7

(796,637

)

(556,147

)

Net current liabilities

(244,799

)

(20,246

)

Total assets less current liabilities

1,870,829

2,103,301

Creditors

Amounts falling due after more than one year

8

(773,086

)

(845,251

)

Provisions for liabilities

(178,893

)

(152,375

)

Net assets

918,850

1,105,675

Capital and reserves

Called up share capital

3,000

3,000

Revaluation reserve

9

197,586

241,354

Capital redemption reserve

7,000

7,000

Retained earnings

711,264

854,321

918,850

1,105,675

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2026 and were signed on its behalf by:

Mrs J Boast - Director

1.	Statutory information

Joseph House (Reedham) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01897208

Registered office:

The Old Rectory

1 Church Road

Reedham

Norwich

Norfolk

NR13 3TZ

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

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings - at variable rates on reducing balance

Plant and machinery etc - 25%, 20% and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

4.	Employees and directors

The average number of employees during the year was 32 (2024 - 33 ) .

5.	Tangible fixed assets

Fixtures

Freehold

Central

and

Motor

property

heating

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 April 2024

1,995,200

26,775

753,847

53,560

2,829,382

Additions

-

-

23,243

7,000

30,243

At 31 March 2025

1,995,200

26,775

777,090

60,560

2,859,625

Depreciation

At 1 April 2024

92,839

26,741

549,573

36,682

705,835

Charge for year

12,724

7

21,355

4,076

38,162

At 31 March 2025

105,563

26,748

570,928

40,758

743,997

Net book value

At 31 March 2025

1,889,637

27

206,162

19,802

2,115,628

At 31 March 2024

1,902,361

34

204,274

16,878

2,123,547

The freehold property was revalued on 24 May 2007 by Messrs O A Chapman and Son upon instructions from the company's bankers, Lloyds TSB Plc.

6.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Other debtors

477,274

513,743

7.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Bank loans and overdrafts

70,509

68,487

Trade creditors

140,179

238,400

Taxation and social security

488,139

235,345

Other creditors

97,810

13,915

796,637

556,147

8.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

£

Bank loans

773,086

845,251

9.

Reserves

Revaluation

reserve

£

At 1 April 2024

241,354

Unrealised surplus/(deficit) on revalued assets

(43,768

)

At 31 March 2025

197,586

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

10.	Directors' advances, credits and guarantees

At the balance sheet date the directors jointly owed the company £396,074. The loans were repaid on 6 April 2025 by dividend. No interest was charged on the loans.