Company registration number 05896427 (England and Wales)
JOURNEY EAST LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
JOURNEY EAST LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
JOURNEY EAST LIMITED
BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
56,250
75,166
Investments
5
1,878,453
1,922,435
1,934,703
1,997,601
Current assets
Debtors
6
76,563
30,570
Investments
7
128,616
112,915
Cash at bank and in hand
83,772
15,565
288,951
159,050
Creditors: amounts falling due within one year
8
(167,835)
(153,189)
Net current assets
121,116
5,861
Total assets less current liabilities
2,055,819
2,003,462
Provisions for liabilities
(14,800)
(9,200)
Net assets
2,041,019
1,994,262
Capital and reserves
Called up share capital
100
100
Other reserves
44,686
27,689
Profit and loss reserves
1,996,233
1,966,473
Total equity
2,041,019
1,994,262
JOURNEY EAST LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 5 February 2026
Mr S McClaren
Director
Company registration number 05896427 (England and Wales)
JOURNEY EAST LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -
Share capital
Other reserves
Profit and loss reserves
Total
£
£
£
£
Balance at 1 July 2023
100
12,142
1,936,531
1,948,773
Year ended 30 June 2024:
Profit and total comprehensive income
-
-
45,489
45,489
Fair value movement
-
15,547
(15,547)
-
Balance at 30 June 2024
100
27,689
1,966,473
1,994,262
Year ended 30 June 2025:
Profit and total comprehensive income
-
-
46,757
46,757
Fair value movement
-
16,997
(16,997)
-
Balance at 30 June 2025
100
44,686
1,996,233
2,041,019
JOURNEY EAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
1
Accounting policies
Company information

Journey East Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gresham House, 5-7 St Pauls Street, Leeds, LS1 2JG.

1.1
Basis of preparation

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 requirements 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% straight line
Motor vehicles
25% 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.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Fixed asset investments include capital invested in trading partnership LLPs and are held at cost less impairments.

Current asset investments represent the undrawn profits from the current accounts in trading partnership LLPs.

The profit from trading partnership LLPs is shown as other operating income.

JOURNEY EAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
1.4
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

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

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, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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. A m ounts 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.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

JOURNEY EAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 July 2024 and 30 June 2025
597
90,000
90,597
Depreciation and impairment
At 1 July 2024
431
15,000
15,431
Depreciation charged in the year
166
18,750
18,916
At 30 June 2025
597
33,750
34,347
Carrying amount
At 30 June 2025
-
0
56,250
56,250
At 30 June 2024
166
75,000
75,166
JOURNEY EAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
1,878,453
1,922,435
Movements in fixed asset investments
Other
£
Cost or valuation
At 1 July 2024
1,922,435
Fair value revaluation
22,597
Disposals
(66,579)
At 30 June 2025
1,878,453
Carrying amount
At 30 June 2025
1,878,453
At 30 June 2024
1,922,435
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
76,563
30,570
7
Current asset investments
2025
2024
£
£
Other investments
128,616
112,915
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
107
39
Corporation tax
7,800
-
0
Other creditors
159,928
153,150
167,835
153,189
JOURNEY EAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Investments
14,800
9,200
2025
Movements in the year:
£
Liability at 1 July 2024
9,200
Charge to profit or loss
5,600
Liability at 30 June 2025
14,800
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