J Pickard & Co (Holdings) Limited 30/06/2022 iXBRL
J Pickard & Co (Holdings) Limited 30/06/2022 iXBRL
Company registration number:
00476197
J PICKARD & CO (HOLDINGS) LIMITED
DIRECTORS AND OTHER INFORMATION
Directors |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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26-28 Southernhay East | ||
Exeter | ||
Devon | ||
EX1 1NS | ||
J PICKARD & CO (HOLDINGS) LIMITED
STATEMENT OF FINANCIAL POSITION
30 JUNE 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Investments | 6 |
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Current assets | |||||||||
Debtors | 7 |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Revaluation reserve | 9 |
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Special reserve | 9 |
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Profit and loss account | 9 |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
01 March 2023
, and are signed on behalf of the board by:
Director
Company registration number:
00476197
J PICKARD & CO (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Burrington, Umberleigh, Devon, EX37 9JH.
Principal activity
The principal activity of the company is that of a holding company.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Taxation
Tangible assets
Depreciation
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:
Freehold property | - | 1% on cost | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2021:
5
).
5.
Tangible assets
Freehold property | Total | ||
£ | £ | ||
Cost | |||
At 1 July 2021 and 30 June 2022 |
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Depreciation | |||
At 1 July 2021 |
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Charge for the year |
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At 30 June 2022 |
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Carrying amount | |||
At 30 June 2022 |
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At 30 June 2021 |
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Investment property
The valuation of the investments properties have been undertaken by the director based on the market conditions.
6.
Investments
Shares in group undertakings and participating interests | Total | ||
£ | £ | ||
Cost | |||
At 1 July 2021 and 30 June 2022 |
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Impairment | |||
At 1 July 2021 and 30 June 2022 |
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_______ | _______ | ||
Carrying amount | |||
At 30 June 2022 |
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_______ | _______ | ||
At 30 June 2021 |
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7.
Debtors
2022 | 2021 | |||
£ | £ | |||
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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8.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Accruals and deferred income |
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Other creditors | 801 | 801 | ||
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1,671 | 1,623 | |||
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9.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
10.
Contingent assets and liabilities
The company has given a guarantee of £420,000 to the bank in respect of the borrowings of J Pickard & Co (Burrington) Ltd.In addition the company has provided a charge over the residential properties in favour of three named individuals, J P, G W P and
N P Short
, who are trustees for all contributors to the loans made to the company's subsidiary, J Pickard & Co (Burrington) Limited.The company has a continuing obligation to pay J Pickard & Co (Burrington) Limited the cost of the improvements to the freehold property.
11.
Revaluation Reserve
The undistributable reserves of the company are held in the revaluation reserve which has arisen from the investment properties being shown at market value.