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COMPANY REGISTRATION NUMBER: 08049542
J E JACKSON LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2023
J E JACKSON LTD
STATEMENT OF FINANCIAL POSITION
30 April 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
627
1,311
CURRENT ASSETS
Debtors
6
74,072
100,564
Cash at bank and in hand
15
3
--------
---------
74,087
100,567
CREDITORS: amounts falling due within one year
7
63,708
70,472
--------
---------
NET CURRENT ASSETS
10,379
30,095
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
11,006
31,406
CREDITORS: amounts falling due after more than one year
8
20,759
31,666
--------
--------
NET LIABILITIES
( 9,753)
( 260)
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
20
20
Profit and loss account
( 9,773)
( 280)
-------
----
SHAREHOLDERS DEFICIT
( 9,753)
( 260)
-------
----
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 30 April 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 .
J E JACKSON LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 1 November 2023 , and are signed on behalf of the board by:
J E Jackson
Director
Company registration number: 08049542
J E JACKSON LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 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 37 Grosvenor Way, Barton Seagrave, Kettering, Northants, NN15 6TG.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the directors and creditors. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive 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, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Fixtures and Fittings
-
15% reducing balance
Office Equipment
-
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
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 persons employed by the company during the year amounted to 3 (2022: 3 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Office Equipment
Total
£
£
£
Cost
At 1 May 2022 and 30 April 2023
222
5,065
5,287
----
-------
-------
Depreciation
At 1 May 2022
124
3,852
3,976
Charge for the year
14
670
684
----
-------
-------
At 30 April 2023
138
4,522
4,660
----
-------
-------
Carrying amount
At 30 April 2023
84
543
627
----
-------
-------
At 30 April 2022
98
1,213
1,311
----
-------
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
31,685
25,136
Other debtors
42,387
75,428
--------
---------
74,072
100,564
--------
---------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,336
28,870
Trade creditors
1,474
2,053
Corporation tax
23,517
15,396
Social security and other taxes
14,507
20,720
Other creditors
5,874
3,433
--------
--------
63,708
70,472
--------
--------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,759
31,666
--------
--------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
J E Jackson
75,428
58,159
( 97,200)
36,387
Ms V Sturgess
6,000
6,000
--------
--------
--------
--------
75,428
64,159
( 97,200)
42,387
--------
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
J E Jackson
40,868
100,057
( 65,497)
75,428
Ms V Sturgess
--------
---------
--------
--------
40,868
100,057
( 65,497)
75,428
--------
---------
--------
--------
Interest has been charged at the official rate.
10. GOING CONCERN
The directors have considered the period to November 2024 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.