Registered number
00466095
E.John Spratley Limited
Filleted Accounts
31 December 2021
E.John Spratley Limited
Registered number: 00466095
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 19,657 26,270
Current assets
Stocks 227,978 205,231
Debtors 4 32,399 17,440
Cash at bank and in hand 225,997 205,501
486,374 428,172
Creditors: amounts falling due within one year 5 (106,907) (111,522)
Net current assets 379,467 316,650
Total assets less current liabilities 399,124 342,920
Provisions for liabilities (10,000) (10,000)
Net assets 389,124 332,920
Capital and reserves
Called up share capital 4,000 4,000
Profit and loss account 385,124 328,920
Shareholders' funds 389,124 332,920
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paul Spratley
Director
Approved by the board on 5 September 2022
E.John Spratley Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Generally this occurs when vehicles or parts have been supplied or a service, MOT or repair has been completed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Leasehold land and buildings over 10 years
Plant and machinery 20% to 33% on cost
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using a number or market tools common to its sector. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 9 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2021 47,468 287,739 335,207
Disposals - (13,250) (13,250)
At 31 December 2021 47,468 274,489 321,957
Depreciation
At 1 January 2021 40,183 268,754 308,937
Charge for the year 1,378 5,235 6,613
On disposals - (13,250) (13,250)
At 31 December 2021 41,561 260,739 302,300
Net book value
At 31 December 2021 5,907 13,750 19,657
At 31 December 2020 7,285 18,985 26,270
4 Debtors 2021 2020
£ £
Trade debtors 18,390 5,989
Other debtors 14,009 11,451
32,399 17,440
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 24,959 10,177
Taxation and social security costs 77,337 82,684
Other creditors 4,611 18,661
106,907 111,522
6 Other information
E.John Spratley Limited is a private company limited by shares and incorporated in England. Its registered office is:
60-62 Victoria Road
Mortimer Common
Reading
Berks
RG7 3SG
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