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REGISTERED NUMBER: SC572224 (Scotland)











































J. W. Ford & Son Limited

Unaudited Financial Statements

for the period

1st December 2020 to 29th November 2021






J. W. Ford & Son Limited (Registered number: SC572224)






Contents of the Financial Statements
for the period 1st December 2020 to 29th November 2021




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


J. W. Ford & Son Limited

Company Information
for the period 1st December 2020 to 29th November 2021







Directors: J W Ford
K W Ford





Registered office: 8 Broomlands
Kelso
Roxburghshire
TD5 7PR





Registered number: SC572224 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

J. W. Ford & Son Limited (Registered number: SC572224)

Balance Sheet
29th November 2021

2021 2020
Notes £    £    £    £   
Fixed assets
Tangible assets 4 80,966 68,240

Current assets
Stocks 10,575 11,809
Debtors 5 104,606 128,201
Cash at bank 234,670 146,767
349,851 286,777
Creditors
Amounts falling due within one year 6 161,170 192,899
Net current assets 188,681 93,878
Total assets less current liabilities 269,647 162,118

Provisions for liabilities 15,384 12,966
Net assets 254,263 149,152

Capital and reserves
Called up share capital 100 100
Retained earnings 254,163 149,052
254,263 149,152

J. W. Ford & Son Limited (Registered number: SC572224)

Balance Sheet - continued
29th November 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29th November 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 29th November 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 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th September 2022 and were signed on its behalf by:





J W Ford - Director


J. W. Ford & Son Limited (Registered number: SC572224)

Notes to the Financial Statements
for the period 1st December 2020 to 29th November 2021

1. Statutory information

J. W. Ford & Son Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 20% on cost
Lorry and trailer - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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

Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


J. W. Ford & Son Limited (Registered number: SC572224)

Notes to the Financial Statements - continued
for the period 1st December 2020 to 29th November 2021

2. Accounting policies - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Leasing commitments
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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the period was 3 (2020 - 3 ) .

J. W. Ford & Son Limited (Registered number: SC572224)

Notes to the Financial Statements - continued
for the period 1st December 2020 to 29th November 2021

4. Tangible fixed assets
Lorry and Motor
Equipment trailer vehicles Totals
£    £    £    £   
Cost
At 1st December 2020 1,826 113,720 4,000 119,546
Additions 242 8,050 20,600 28,892
Disposals - - (4,000 ) (4,000 )
At 29th November 2021 2,068 121,770 20,600 144,438
Depreciation
At 1st December 2020 1,003 47,990 2,313 51,306
Charge for period 405 10,211 3,863 14,479
Eliminated on disposal - - (2,313 ) (2,313 )
At 29th November 2021 1,408 58,201 3,863 63,472
Net book value
At 29th November 2021 660 63,569 16,737 80,966
At 30th November 2020 823 65,730 1,687 68,240

5. Debtors: amounts falling due within one year
2021 2020
£    £   
Trade debtors 85,078 125,576
Other debtors 19,528 2,625
104,606 128,201

6. Creditors: amounts falling due within one year
2021 2020
£    £   
Trade creditors 44,719 87,685
Taxation and social security 23,877 20,574
Other creditors 92,574 84,640
161,170 192,899

7. Post balance sheet events

Since the year end, on 15th March 2022, an interim dividend for the year ended 31st December 2022 of £20 per share has been declared.

Since the year end, on 31st March 2022, an interim dividend for the year ended 31st December 2022 of £60 per share has been declared.