Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-311true2022-06-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02766318 2022-06-01 2023-05-31 02766318 2021-06-01 2022-05-31 02766318 2023-05-31 02766318 2022-05-31 02766318 c:CompanySecretary1 2022-06-01 2023-05-31 02766318 c:Director1 2022-06-01 2023-05-31 02766318 c:RegisteredOffice 2022-06-01 2023-05-31 02766318 d:OfficeEquipment 2022-06-01 2023-05-31 02766318 d:CurrentFinancialInstruments 2023-05-31 02766318 d:CurrentFinancialInstruments 2022-05-31 02766318 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02766318 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 02766318 d:ShareCapital 2023-05-31 02766318 d:ShareCapital 2022-05-31 02766318 d:OtherMiscellaneousReserve 2023-05-31 02766318 d:OtherMiscellaneousReserve 2022-05-31 02766318 d:RetainedEarningsAccumulatedLosses 2023-05-31 02766318 d:RetainedEarningsAccumulatedLosses 2022-05-31 02766318 c:OrdinaryShareClass1 2022-06-01 2023-05-31 02766318 c:OrdinaryShareClass1 2023-05-31 02766318 c:OrdinaryShareClass1 2022-05-31 02766318 c:FRS102 2022-06-01 2023-05-31 02766318 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 02766318 c:AbridgedAccounts 2022-06-01 2023-05-31 02766318 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 02766318 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 02766318 d:TaxLossesCarry-forwardsDeferredTax 2022-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02766318










James Day (Lubricants) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2023

 
James Day (Lubricants) Limited
 

Company Information


Director
A G W King 




Company secretary
J A Bird



Registered number
02766318



Registered office
2nd Floor
168 Shoreditch High Street

London

E1 6RA




Accountants
Kreston Reeves LLP
Chartered Accountants

2nd Floor

168 Shoreditch High Street

London

E1 6RA





 
James Day (Lubricants) Limited
Registered number: 02766318

Balance Sheet
As at 31 May 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
2,295
2,000

Debtors
 5 
11,742
10,878

Cash at bank and in hand
 6 
1,233
1,109

  
15,270
13,987

Creditors: amounts falling due within one year
 7 
(9,635)
(3,485)

Net current assets
  
 
 
5,635
 
 
10,502

Total assets less current liabilities
  
5,635
10,502

Provisions for liabilities
 8 
7,294
3,915

Net assets
  
12,929
14,417


Capital and reserves
  

Called up share capital 
 9 
30,000
30,000

Other reserves
  
10,000
10,000

Profit and loss account
  
(27,071)
(25,583)

  
12,929
14,417


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A G W King
Director
Date: 15 September 2023

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

1.


General information

The company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is at 2nd Floor, 168 Shoreditch High Street, London, E1 6RA.
The principal activity of the company was that of distributing lubricating products. The company's trading address is  Prospect House, 16 Culimore Road, West Wittering, West Sussex, PO20 8HG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the year, exclusive of Value Added Tax and trade discounts.

  
2.3

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at
rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Profit and loss account.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 2

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 3

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

4.


Stocks

2023
2022
£
£

Finished goods and goods for resale
2,295
2,000



5.


Debtors

2023
2022
£
£


Trade debtors
8,472
8,346

Amounts owed by partcipating interest
1,000
1,000

Prepayments and accrued income
2,270
1,532

Deferred taxation
7,294
3,915

19,036
14,793



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,233
1,109



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,471
-

Other taxation and social security
2,564
1,985

Accruals and deferred income
1,600
1,500

9,635
3,485


Page 4

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2023

8.


Deferred taxation




2023


£






At beginning of year
3,915


Charged to profit or loss
3,379



At end of year
7,294

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
7,294
3,915


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



30,000 (2022 - 30,000) Ordinary shares of £1 each
30,000
30,000



10.


Related party transactions

During the year the company purchased goods from E.S.B. Environmental Ltd amounting to £5,673 (2022 - £16,800). As at 31 May 2023 company owed £nil (2022 - £nil) to E.S.B. Environmental Ltd.
E.S.B. Environmental Ltd is 100% controlled by the estate of Mrs A Bird Dec'd , who is also a shareholder of James Day (Lubricants) Ltd.


Page 5