JON BURGESS LTD

Company Registration Number:
08122534 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 1 February 2022

End date: 31 January 2023

JON BURGESS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2023

Balance sheet
Additional notes
Balance sheet notes

JON BURGESS LTD

Balance sheet

As at 31 January 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,147 1,755
Total fixed assets: 1,147 1,755
Current assets
Stocks: 4 115,500 106,200
Debtors: 5 44,943 75,462
Cash at bank and in hand: 507,247 543,865
Total current assets: 667,690 725,527
Creditors: amounts falling due within one year: 6 ( 191,093 ) ( 275,141 )
Net current assets (liabilities): 476,597 450,386
Total assets less current liabilities: 477,744 452,141
Total net assets (liabilities): 477,744 452,141
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 477,644 452,041
Total Shareholders' funds: 477,744 452,141

The notes form part of these financial statements

JON BURGESS LTD

Balance sheet statements

For the year ending 31 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 17 October 2023
and signed on behalf of the board by:

Name: JON BURGESS
Status: Director

The notes form part of these financial statements

JON BURGESS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added tax. 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 has transferred to the buyer. This is usually when the goods have been delivered to customers such that the risks and rewards of ownership have been transferred to them.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. If at the balance sheet date completion of the contract is dependent on external factors, then the revenue is recognised only when the event occurs. In such cases direct costs incurred up to the balance sheet date plus an overhead rate are recognised as revenue to the extent that they are recoverable.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land, over their expected useful lives. The annual rates and methods of depreciation are as follows:Leasehold improvements - over life of leaseMotor vehicles - 25% reducing balance basisPlant & Machinery - 25% reducing balance basisImpairment of fixed assetsFixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised in the profit and loss account. The reversal of an impairment loss is recognised immediately in the profit and loss account.

    Other accounting policies

    Pension contributionsThe Company has a defined contribution pension scheme. The pension costs charged to the profit and loss account are the contributions payable in respect of the accounting period.TaxationThe tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the year using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.StocksStock are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and an appropriate proportion of overhead expenses.DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment.CreditorsShort term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.

JON BURGESS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

JON BURGESS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2022 3,758 2,000 8,250 14,008
Additions
Disposals
Revaluations
Transfers
At 31 January 2023 3,758 2,000 8,250 14,008
Depreciation
At 1 February 2022 2,931 1,868 7,454 12,253
Charge for year 376 33 199 608
On disposals
Other adjustments
At 31 January 2023 3,307 1,901 7,653 12,861
Net book value
At 31 January 2023 451 99 597 1,147
At 31 January 2022 827 132 796 1,755

JON BURGESS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Stocks

2023 2022
£ £
Stocks 115,500 106,200
Total 115,500 106,200

JON BURGESS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

5. Debtors

2023 2022
£ £
Trade debtors 41,576 72,079
Prepayments and accrued income 3,367 3,383
Total 44,943 75,462

JON BURGESS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 8,446 27,586
Taxation and social security 19,091 22,217
Accruals and deferred income 4,850 2,800
Other creditors 158,706 222,538
Total 191,093 275,141