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REGISTERED NUMBER: 05055313 (England and Wales)















JACKSONS COATINGS LIMITED

Financial Statements for the Year Ended 30 June 2022






JACKSONS COATINGS LIMITED (Registered number: 05055313)






Contents of the Financial Statements
for the Year Ended 30 June 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JACKSONS COATINGS LIMITED

Company Information
for the Year Ended 30 June 2022







DIRECTORS: L R Marston
N Stacey





REGISTERED OFFICE: 1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ





REGISTERED NUMBER: 05055313 (England and Wales)





ACCOUNTANTS: Maclean & Company
1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Balance Sheet
30 June 2022

30.6.22 30.6.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,787 11,290
Tangible assets 5 84,362 99,427
91,149 110,717

CURRENT ASSETS
Stocks 26,978 25,171
Debtors 6 72,410 74,911
Cash at bank and in hand 648 986
100,036 101,068
CREDITORS
Amounts falling due within one year 7 111,051 101,234
NET CURRENT LIABILITIES (11,015 ) (166 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,134

110,551

CREDITORS
Amounts falling due after more than one
year

8

(28,250

)

(52,500

)

PROVISIONS FOR LIABILITIES 10 (15,557 ) (18,316 )
NET ASSETS 36,327 39,735

CAPITAL AND RESERVES
Called up share capital 180 180
Capital redemption reserve 11 20 20
Retained earnings 11 36,127 39,535
SHAREHOLDERS' FUNDS 13 36,327 39,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Balance Sheet - continued
30 June 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:




N Stacey - Director



L R Marston - Director


JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements
for the Year Ended 30 June 2022

1. STATUTORY INFORMATION

JACKSONS COATINGS 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 Company Information page.

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.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office furniture & equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Product design costs
Expenditure on the specific development, design and implementation of new products and processes is amortised evenly over their estimated useful lives of five years.

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

2. ACCOUNTING POLICIES - continued

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 company operates a defined contribution pension scheme. Contributions payable to the company'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 7 (2021 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Product
design
costs
£   
COST
At 1 July 2021
and 30 June 2022 22,514
AMORTISATION
At 1 July 2021 11,224
Amortisation for year 4,503
At 30 June 2022 15,727
NET BOOK VALUE
At 30 June 2022 6,787
At 30 June 2021 11,290

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

5. TANGIBLE FIXED ASSETS
Office
Plant and Motor furniture
machinery vehicles & equipment Totals
£    £    £    £   
COST
At 1 July 2021
and 30 June 2022 271,156 4,000 12,430 287,586
DEPRECIATION
At 1 July 2021 173,241 2,735 12,183 188,159
Charge for year 14,687 316 62 15,065
At 30 June 2022 187,928 3,051 12,245 203,224
NET BOOK VALUE
At 30 June 2022 83,228 949 185 84,362
At 30 June 2021 97,915 1,265 247 99,427

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2021
and 30 June 2022 86,500
DEPRECIATION
At 1 July 2021 12,975
Charge for year 11,029
At 30 June 2022 24,004
NET BOOK VALUE
At 30 June 2022 62,496
At 30 June 2021 73,525

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Trade debtors 68,789 57,650
Other debtors 3,621 17,261
72,410 74,911

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Bank loans and overdrafts 54,187 64,735
Hire purchase contracts 12,500 12,500
Trade creditors 26,636 21,512
Taxation 17,728 2,487
111,051 101,234

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.22 30.6.21
£    £   
Hire purchase contracts 25,000 37,500
Other creditors 3,250 15,000
28,250 52,500

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.22 30.6.21
£    £   
Hire purchase contracts 37,500 50,000

The Hire purchase contracts are secured against the specific fixed assets to which they relate (note 8).

10. PROVISIONS FOR LIABILITIES
30.6.22 30.6.21
£    £   
Deferred tax 15,557 18,316

Deferred
tax
£   
Balance at 1 July 2021 18,316
Credit to Income Statement during year (2,759 )
Balance at 30 June 2022 15,557

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2021 39,535 20 39,555
Profit for the year 24,592 - 24,592
Dividends (28,000 ) - (28,000 )
At 30 June 2022 36,127 20 36,147

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

12. RELATED PARTY DISCLOSURES

During the year, the company made sales of £235,565 (2021 - £222,966) on normal commercial terms, to Metal Cabinet Sales Limited, a company in which L R Marston and N Stacey are directors and shareholders.

At the year end, the company was owed £25,235 (2021 - £7,767) by Metal Cabinet Sales Limited, this balance being included in "Trade debtors" (note 9).

During 2021, the company received a loan from Metal Cabinet Sales Limited. At the year end, the Company owed £3,250 (2021 - £15,000) to Metal Cabinet Sales Limited which is included as "Other creditors" (note 11).

13. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
30.6.22 30.6.21
£    £   
Profit for the financial year 24,592 22,613
Dividends (28,000 ) (61,200 )
Net reduction of shareholders' funds (3,408 ) (38,587 )
Opening shareholders' funds 39,735 78,322
Closing shareholders' funds 36,327 39,735