REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
JLP Food Group Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
JLP Food Group Limited |
JLP Food Group Limited (Registered number: 02906236) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
JLP Food Group Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants & Business Advisers |
15 Newland |
Lincoln |
Lincolnshire |
LN1 1XG |
JLP Food Group Limited (Registered number: 02906236) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
JLP Food Group Limited (Registered number: 02906236) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
JLP Food Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below. |
Preparation of consolidated financial statements |
The financial statements contain information about JLP Food Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Melbourne Holdings Limited, Station Road, Heckington, Sleaford, Lincolnshire, NG34 9NF. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Going concern |
The company's principle activity is that of intermediate holding company and is dormant other than the flow of dividends received and dividends paid up to the ultimate holding company. The director has assessed the current and future impact of this outbreak on the company and is of the view that the business is well placed to deal with any financial difficulties that may arise, albeit he is of the view that the likelihood of any such issue occurring is remote and as such continue to prepare the accounts on the going concern basis. |
Investments |
Fixed asset investments are stated at cost less any amounts written off. |
Financial commitments, guarantees and contingent liabilities |
The company has entered into an inter-company guarantee to secure the bank borrowings of the Melbourne Holdings Limited group. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
JLP Food Group Limited (Registered number: 02906236) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | FINANCIAL INSTRUMENTS |
The company has elected to apply to 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 |
Basic financial assets which include debtors and cash and bank balances, are initially measures at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measures at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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 payments 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 form suppliers. Amounts 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 initial at transaction price and subsequently measured at amortised cost using the effective interest method. |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
The ultimate parent company is Melbourne Holdings Limited. Melbourne Holdings Limited's registered office is: |
Melbourne Park House |
Royal Oak Business Park |
East Road |
Sleaford |
Lincolnshire |
NG34 7EQ |
Consolidated financial statements for the ultimate parent company are filed with the Registrar of Companies where copies may be obtained. |
JLP Food Group Limited (Registered number: 02906236) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
9. | PARENT COMPANY |
The company is a wholly owned subsidiary of Melbourne Holdings Limited. |
Melbourne Holdings Limited is ultimately controlled by J L Priestley. |