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COMPANY REGISTRATION NUMBER: 01358039
Edward Jackson Engineer Limited
Unaudited financial statements
31 March 2023
Edward Jackson Engineer Limited
Statement of financial position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
195,932
114,088
Current assets
Stocks
296,682
215,733
Debtors
6
29,990
167,225
Cash at bank and in hand
59,458
187,177
---------
---------
386,130
570,135
Creditors: Amounts falling due within one year
7
( 102,000)
( 266,322)
---------
---------
Net current assets
284,130
303,813
---------
---------
Total assets less current liabilities
480,062
417,901
Provisions
Taxation including deferred tax
( 8,148)
( 8,505)
---------
---------
Net assets
471,914
409,396
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
471,814
409,296
---------
---------
Shareholders funds
471,914
409,396
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Edward Jackson Engineer Limited
Statement of financial position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 5 October 2023 , and are signed on behalf of the board by:
T Jackson
Director
Company registration number: 01358039
Edward Jackson Engineer Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 12-13 Turing Park, Potash Lane, Norwich, Norfolk, NR14 8QR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year which can be reliably measured. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
5% straight line
Plant and machinery
-
15% reducing balance
Computer equipment
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 5 (2022: 6 ).
5. Tangible assets
Property improve- ments
Plant and machinery
Computer equipment
Total
£
£
£
£
Cost
At 1 April 2022
72,619
90,293
18,251
181,163
Additions
93,913
8,379
102,292
Disposals
( 6,365)
( 6,365)
---------
-------
-------
---------
At 31 March 2023
166,532
92,307
18,251
277,090
---------
-------
-------
---------
Depreciation
At 1 April 2022
58,621
8,454
67,075
Charge for the year
8,041
4,932
4,483
17,456
Disposals
( 3,373)
( 3,373)
---------
-------
-------
---------
At 31 March 2023
8,041
60,180
12,937
81,158
---------
-------
-------
---------
Carrying amount
At 31 March 2023
158,491
32,127
5,314
195,932
---------
-------
-------
---------
At 31 March 2022
72,619
31,672
9,797
114,088
---------
-------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
9,650
106,700
Other debtors
20,340
60,525
-------
---------
29,990
167,225
-------
---------
7. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
25,649
54,658
Amounts owed to group undertakings and undertakings in which the company has a participating interest
39,000
Social security and other taxes
23,854
55,684
Other creditors
13,497
155,980
---------
---------
102,000
266,322
---------
---------