Company No: 08956195 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Investments	3	3,264,428		3,264,428
		3,264,428		3,264,428
Current assets
Debtors	4	6		6
Cash at bank and in hand		31		31
		37		37
Creditors
Amounts falling due within one year	5	( 1,300,535)		( 1,177,709)
Net current liabilities		(1,300,498)		(1,177,672)
Total assets less current liabilities		1,963,930		2,086,756
Creditors
Amounts falling due after more than one year	6	( 152,280)		( 253,800)
Net assets		1,811,650		1,832,956
Capital and reserves
Called-up share capital	7	198,000		198,000
Share premium account		67,125		67,125
Capital redemption reserve		10,000		10,000
Profit and loss account		1,536,525		1,557,831
Total shareholder's funds		1,811,650		1,832,956

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of JTL (Holdings) Limited (registered number: 08956195) were approved and authorised for issue by the Director on 22 December 2022. They were signed on its behalf by:

P R B Jones Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

JTL (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit P, Wylds Road, Bridgwater, TA6 4BH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year	0		0

3. Fixed asset investments

	2022		2021
	£		£
Subsidiary undertakings	3,264,428		3,264,428

Investments in subsidiaries

	2022
	£
Cost
At 01 April 2021	3,264,428
At 31 March 2022	3,264,428
Carrying value at 31 March 2022	3,264,428
Carrying value at 31 March 2021	3,264,428

JTL (Holdings) Limited holds 100% of the nominal value of Ordinary share capital in James Tobias Limited whose Registered office is Unit P, Wylds Road, Bridgewater, TA6 4BH. The principal activity of James Tobias Limited is the manufacture, sale and installation of office furniture and storage solutions.

4. Debtors

	2022		2021
	£		£
Other debtors	6		6

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Amounts owed to Group undertakings	1,149,540		1,048,020
Other loans	101,520		101,520
Accruals	49,475		28,169
	1,300,535		1,177,709

6. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Other loans	152,280		253,800

7. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
198,000 Ordinary A shares of £ 1.00 each	198,000		198,000

8. Ultimate controlling party

Parent Company:

The company's immediate parent is Apollo Manufacturing Limited, incorporated in England and Wales.

The ultimate parent is B.A.W. Precision Engineering Limited, incorporated in England and Wales.