Jefferies Holdings Limited - Limited company accounts 20.1

REGISTERED NUMBER: 09554710 (England and Wales)

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

JEFFERIES HOLDINGS LIMITED

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Statement of Financial Position

4

Company Statement of Financial Position

6

Notes to the Consolidated Financial Statements

8

DIRECTORS:

T T Ware

L D Bullock

REGISTERED OFFICE:

Unit 17 Mill Park Industrial Estate

Hawkes Green

Cannock

Staffordshire

WS11 7XT

REGISTERED NUMBER:

09554710 (England and Wales)

ACCOUNTANTS:

Crombies Accountants Limited

Chartered Accountants

34 Waterloo Road

Wolverhampton

West Midlands

WV1 4DG

The directors present their report with the financial statements of the company and the group for the year ended 31 August 2021.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of a holding company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2020 to the date of this report.

T T Ware

L D Bullock

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

L D Bullock - Director

25 May 2022

TURNOVER

6,187,835

6,175,768

Cost of sales

5,154,653

5,228,865

GROSS PROFIT

1,033,182

946,903

Administrative expenses

964,828

996,623

68,354

(49,720

)

Other operating income

212,434

242,635

OPERATING PROFIT

4

280,788

192,915

Interest receivable and similar income

15

-

280,803

192,915

Interest payable and similar expenses

9,264

6,248

PROFIT BEFORE TAXATION

271,539

186,667

Tax on profit

69,361

61,581

PROFIT FOR THE FINANCIAL YEAR

202,178

125,086

Profit attributable to:

Owners of the parent

202,178

125,086

FIXED ASSETS

Intangible assets

6

507,766

634,707

Tangible assets

7

321,183

313,369

Investments

8

-

-

828,949

948,076

CURRENT ASSETS

Stocks

247,304

167,582

Debtors

9

868,538

505,460

Cash at bank and in hand

676,624

643,152

1,792,466

1,316,194

CREDITORS

Amounts falling due within one year

10

1,235,013

1,081,338

NET CURRENT ASSETS

557,453

234,856

TOTAL ASSETS LESS CURRENT LIABILITIES

1,386,402

1,182,932

CREDITORS

Amounts falling due after more than one year

11

(157,863

)

(115,477

)

PROVISIONS FOR LIABILITIES

(9,500

)

(12,500

)

NET ASSETS

1,219,039

1,054,955

CAPITAL AND RESERVES

Called up share capital

150

150

Share premium

599,970

599,970

Retained earnings

618,919

454,835

SHAREHOLDERS' FUNDS

1,219,039

1,054,955

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 May 2022 and were signed on its behalf by:

T T Ware - Director

L D Bullock - Director

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

270,853

253,997

Investments

8

1,830,880

1,830,780

2,101,733

2,084,777

CURRENT ASSETS

Debtors

9

1

-

Cash at bank

2,764

2,845

2,765

2,845

CREDITORS

Amounts falling due within one year

10

402,852

652,117

NET CURRENT LIABILITIES

(400,087

)

(649,272

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,701,646

1,435,505

CREDITORS

Amounts falling due after more than one year

11

101,734

105,990

NET ASSETS

1,599,912

1,329,515

CAPITAL AND RESERVES

Called up share capital

150

150

Share premium

599,970

599,970

Retained earnings

999,792

729,395

SHAREHOLDERS' FUNDS

1,599,912

1,329,515

Company's profit for the financial year

308,491

242,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 25 May 2022 and were signed on its behalf by:

T T Ware - Director

L D Bullock - Director

1.	STATUTORY INFORMATION

Jefferies Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Goodwill

Goodwill, being the amount that arose on consolidation, is being amortised over 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33.3% on cost, 25% on reducing balance and 20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

The average number of employees by undertakings that were proportionately consolidated during the year was 23 (2020 - 26 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2021

2020

£

£

Depreciation - owned assets

18,297

12,739

Goodwill amortisation

126,941

126,942

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 September 2020

and 31 August 2021

1,269,415

AMORTISATION

At 1 September 2020

634,708

Charge for year

126,941

At 31 August 2021

761,649

NET BOOK VALUE

At 31 August 2021

507,766

At 31 August 2020

634,707

7.	TANGIBLE FIXED ASSETS

Group

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2020

219,634

191,857

411,491

Additions

-

77,536

77,536

Disposals

-

(61,029

)

(61,029

)

At 31 August 2021

219,634

208,364

427,998

DEPRECIATION

At 1 September 2020

-

98,122

98,122

Charge for year

-

29,968

29,968

Eliminated on disposal

-

(21,275

)

(21,275

)

At 31 August 2021

-

106,815

106,815

NET BOOK VALUE

At 31 August 2021

219,634

101,549

321,183

At 31 August 2020

219,634

93,735

313,369

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2020

60,545

Additions

23,450

Disposals

(30,050

)

At 31 August 2021

53,945

DEPRECIATION

At 1 September 2020

25,643

Charge for year

11,671

Eliminated on disposal

(17,742

)

At 31 August 2021

19,572

NET BOOK VALUE

At 31 August 2021

34,373

At 31 August 2020

34,902

Company

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2020

219,634

52,043

271,677

Additions

-

30,424

30,424

Disposals

-

(6,000

)

(6,000

)

At 31 August 2021

219,634

76,467

296,101

DEPRECIATION

At 1 September 2020

-

17,680

17,680

Charge for year

-

9,728

9,728

Eliminated on disposal

-

(2,160

)

(2,160

)

At 31 August 2021

-

25,248

25,248

NET BOOK VALUE

At 31 August 2021

219,634

51,219

270,853

At 31 August 2020

219,634

34,363

253,997

8.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 September 2020

1,830,780

Additions

100

At 31 August 2021

1,830,880

NET BOOK VALUE

At 31 August 2021

1,830,880

At 31 August 2020

1,830,780

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Jefferies Contractors Limited

Registered office:

Nature of business: Building and general maintenance

%

Class of shares:

holding

Ordinary

100.00

Jefferies Cymru Limited

Registered office:

Nature of business: Building and general maintenance

%

Class of shares:

holding

Ordinary

100.00

Jefferies Cymru Limited has a reporting year end of 31st July 2021.

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2021

2020

2021

2020

£

£

£

£

Trade debtors

867,437

504,360

-

-

Other debtors

1,101

1,100

1

-

868,538

505,460

1

-

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2021

2020

2021

2020

£

£

£

£

Bank loans and overdrafts

13,203

3,199

3,204

3,202

Hire purchase contracts

18,970

16,458

-

-

Trade creditors

833,175

460,585

-

-

Amounts owed to group undertakings

-

-

395,100

409,576

Taxation and social security

332,960

259,254

3,430

1,817

Other creditors

36,705

341,842

1,118

237,522

1,235,013

1,081,338

402,852

652,117

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

2021

2020

2021

2020

£

£

£

£

Bank loans

141,734

105,990

101,734

105,990

Hire purchase contracts

16,129

9,487

-

-

157,863

115,477

101,734

105,990

Amounts falling due in more than five years:

Group

Company

2021

2020

2021

2020

£

£

£

£

Repayable by instalments

Bank loans more 5 yr by instal

50,534

54,790

50,534

54,790

12.	SECURED DEBTS

The following secured debts are included within creditors:

Company

2021

2020

£

£

Bank loans

104,938

109,192