J&G HOLDINGS LIMITED
|
Registered number: |
11199545
|
Balance Sheet |
as at 30 April 2020
|
|
Notes |
|
|
2020 |
|
|
2019 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
555,823 |
|
|
625,292 |
Tangible assets |
4 |
|
|
291 |
|
|
388 |
Investments |
5 |
|
|
1,368,090 |
|
|
1,368,090 |
|
|
|
|
1,924,204 |
|
|
1,993,770 |
|
Current assets |
Debtors |
6 |
|
53 |
|
|
538 |
Cash at bank and in hand |
|
|
10,085 |
|
|
685 |
|
|
|
10,138 |
|
|
1,223 |
|
Creditors: amounts falling due within one year |
7 |
|
(905,272) |
|
|
(852,476) |
|
Net current liabilities |
|
|
|
(895,134) |
|
|
(851,253) |
|
Total assets less current liabilities |
|
|
|
1,029,070 |
|
|
1,142,517 |
|
Creditors: amounts falling due after more than one year |
8 |
|
|
(1,009,654) |
|
|
(1,136,699) |
|
|
|
Net assets |
|
|
|
19,416 |
|
|
5,818 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
19,316 |
|
|
5,718 |
|
Shareholders' funds |
|
|
|
19,416 |
|
|
5,818 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
P M Goy |
S W Joyce |
Director |
Director |
Approved by the board on 31 January 2021
|
|
J&G HOLDINGS LIMITED
|
Notes to the Accounts |
for the year ended 30 April 2020
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Group accounts |
|
These financial statements present information about the company as an individual undertaking and not about its group. The company is exempt from the requirement to prepare group accounts as the group is small. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of VAT. Turnover from the provision of services is recognised on completion of the service.
|
|
|
Intangible fixed assets |
|
Goodwill, being the amount paid in connection with the acquisition of Allied Glazing Systems Ltd in 2018, is being amortised evenly over its useful life of 10 years.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
|
|
|
Office equipment |
25% - reducing balance basis |
|
|
Investments |
|
Investments held as fixed assets are stated at cost less impairment.
|
|
|
Debtors and creditors receivable/payable within one year |
|
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment.
|
|
|
Loans and borrowings |
|
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
|
|
Taxation |
|
Current tax represents the amount of tax payable or receivable in respect of the taxable profit or loss for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.
|
|
|
2 |
Employees |
2020 |
|
2019 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 May 2019 |
694,686 |
|
At 30 April 2020 |
694,686 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 May 2019 |
69,394 |
|
Provided during the year |
69,469 |
|
At 30 April 2020 |
138,863 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2020 |
555,823 |
|
At 30 April 2019 |
625,292 |
|
|
|
|
|
|
|
|
|
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 May 2019 |
470 |
|
At 30 April 2020 |
470 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2019 |
82 |
|
Charge for the year |
97 |
|
At 30 April 2020 |
179 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2020 |
291 |
|
At 30 April 2019 |
388 |
|
|
5 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
|
Cost |
|
At 1 May 2019 |
1,368,090 |
|
|
At 30 April 2020 |
1,368,090 |
|
|
6 |
Debtors |
2020 |
|
2019 |
£ |
£ |
|
|
Other taxation and social security |
|
|
|
|
53 |
|
121 |
|
Other debtors |
- |
|
417 |
|
|
|
|
|
|
53 |
|
538 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
£ |
£ |
|
|
Bank loans and overdrafts |
457,594 |
|
158,688 |
|
Amounts owed to group undertakings |
|
395,224 |
|
629,883 |
|
Taxation and social security costs |
52,354 |
|
52,401 |
|
Other creditors |
100 |
|
11,504 |
|
|
|
|
|
|
905,272 |
|
852,476 |
|
|
|
|
|
|
|
|
|
|
8 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
£ |
£ |
|
|
Bank loans |
409,654 |
|
536,699 |
|
Directors' loan |
100,000 |
|
100,000 |
|
Deferred acquisition payment |
500,000 |
|
500,000 |
|
|
|
|
|
|
1,009,654 |
|
1,136,699 |
|
|
|
|
|
|
|
|
|
|
9 |
Loans |
2020 |
|
2019 |
£ |
£ |
|
Creditors include: |
|
|
Aggregate amount of secured liabilities |
1,367,248 |
|
1,195,387 |
|
|
|
|
|
|
|
|
|
|
The bank loan is secured by a fixed and floating charge over the leasehold premises of the subsidiary undertaking. The deferred acquisition payment is secured by a debenture over the assets and undertaking of the subsidiary company.
|
|
|
10 |
Share capital |
2020 |
|
2019 |
£ |
£ |
|
Issued and fully paid |
|
26 Ordinary A Shares of £1 each |
26 |
|
26 |
|
26 Ordinary B Shares of £1 each |
26 |
|
26 |
|
24 Ordinary C Shares of £1 each |
24 |
|
24 |
|
24 Ordinary D Shares of £1 each |
24 |
|
24 |
|
|
|
|
|
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
11 |
Related party transactions |
|
|
The following is a summary of the directors' transactions with the company during the year ended 30th April 2020:
|
|
|
|
|
|
|
2020 |
|
2019 |
£ |
£ |
|
|
Balance owed by the company at 1st May 2019 |
100,000 |
|
- |
|
Loaned to the company during the period |
- |
|
100,000 |
|
Balance owed by the company at 30th April 2020 |
100,000 |
|
100,000 |
|
|
12 |
Other information |
|
|
J&G HOLDINGS LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
60 Cyclops Street |
|
Sheffield |
|
S4 8EH |