IRIS Accounts Production v23.2.0.158 02192591 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure021925912022-05-31021925912023-05-31021925912022-06-012023-05-31021925912021-05-31021925912021-06-012022-05-31021925912022-05-3102192591ns16:EnglandWales2022-06-012023-05-3102192591ns15:PoundSterling2022-06-012023-05-3102192591ns11:Director12022-06-012023-05-3102192591ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3102192591ns11:SmallEntities2022-06-012023-05-3102192591ns11:AuditExempt-NoAccountantsReport2022-06-012023-05-3102192591ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3102192591ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-3102192591ns11:AbridgedAccounts2022-06-012023-05-3102192591ns11:Director22022-06-012023-05-3102192591ns11:RegisteredOffice2022-06-012023-05-3102192591ns6:CurrentFinancialInstruments2023-05-3102192591ns6:CurrentFinancialInstruments2022-05-3102192591ns6:Non-currentFinancialInstruments2023-05-3102192591ns6:Non-currentFinancialInstruments2022-05-3102192591ns6:ShareCapital2023-05-3102192591ns6:ShareCapital2022-05-3102192591ns6:RetainedEarningsAccumulatedLosses2023-05-3102192591ns6:RetainedEarningsAccumulatedLosses2022-05-3102192591ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-06-012023-05-3102192591ns6:PlantMachinery2022-06-012023-05-3102192591ns6:MotorVehicles2022-06-012023-05-3102192591ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2023-05-3102192591ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-05-3102192591ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2023-05-3102192591ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2022-05-3102192591ns6:HirePurchaseContracts2023-05-3102192591ns6:HirePurchaseContracts2022-05-3102192591ns6:WithinOneYear2023-05-3102192591ns6:WithinOneYear2022-05-3102192591ns6:BetweenOneFiveYears2023-05-3102192591ns6:BetweenOneFiveYears2022-05-3102192591ns6:MoreThanFiveYears2023-05-3102192591ns6:MoreThanFiveYears2022-05-3102192591ns6:AllPeriods2023-05-3102192591ns6:AllPeriods2022-05-31
REGISTERED NUMBER: 02192591 (England and Wales)
























Jeffery West and Co Limited

Financial Statements for the Year Ended 31st May 2023






Jeffery West and Co Limited (Registered number: 02192591)

Contents of the Financial Statements
for the Year Ended 31st May 2023










Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


Jeffery West and Co Limited

Company Information
for the Year Ended 31st May 2023







Directors: M Jeffery
G West





Registered office: City House
Cliftonville Road
Northampton
NN1 5HQ





Registered number: 02192591 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

Jeffery West and Co Limited (Registered number: 02192591)

Abridged Balance Sheet
31st May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 3 478,048 439,247
Investments 4 2,351 2,275
480,399 441,522

Current assets
Stocks 1,019,896 951,929
Debtors 295,540 202,668
Cash at bank 5,237,713 5,140,901
6,553,149 6,295,498
Creditors
Amounts falling due within one year 425,120 593,110
Net current assets 6,128,029 5,702,388
Total assets less current liabilities 6,608,428 6,143,910

Creditors
Amounts falling due after more than one
year

(57,062

)

(25,057

)

Provisions for liabilities (4,556 ) (3,875 )
Net assets 6,546,810 6,114,978

Capital and reserves
Called up share capital 100 100
Retained earnings 6,546,710 6,114,878
6,546,810 6,114,978

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 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.

Jeffery West and Co Limited (Registered number: 02192591)

Abridged Balance Sheet - continued
31st May 2023


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

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31st May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th September 2023 and were signed on its behalf by:





M Jeffery - Director


Jeffery West and Co Limited (Registered number: 02192591)

Notes to the Financial Statements
for the Year Ended 31st May 2023


1. 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 as modified by the revaluation of certain assets.

Revenue recognition
The company recognises revenue at the point of sale after allowing for any returns.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 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 Profit and loss account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Jeffery West and Co Limited (Registered number: 02192591)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023


1. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits of ownership remain with the lessor are charged against profits as incurred.

2. Employees and directors

The average number of employees during the year was 13 (2022 - 13 ) .

3. Tangible fixed assets
Totals
£   
Cost
At 1st June 2022 555,108
Additions 69,583
At 31st May 2023 624,691
Depreciation
At 1st June 2022 115,861
Charge for year 30,782
At 31st May 2023 146,643
Net book value
At 31st May 2023 478,048
At 31st May 2022 439,247

Jeffery West and Co Limited (Registered number: 02192591)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023


4. Fixed asset investments

Information on investments other than loans is as follows:
Totals
£   
Cost or valuation
At 1st June 2022 2,275
Revaluations 76
At 31st May 2023 2,351
Net book value
At 31st May 2023 2,351
At 31st May 2022 2,275


5. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 14,720 7,979
Between one and five years 57,062 25,057
71,782 33,036

Non-cancellable operating leases
2023 2022
£    £   
Within one year 55,000 55,000
Between one and five years 220,000 220,000
In more than five years 25,014 76,397
300,014 351,397