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Registration number: 01395730

Jacobson Chemicals Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Jacobson Chemicals Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Jacobson Chemicals Limited

Company Information

Directors

S Cooper

MI Cooper

Company secretary

S Cooper

Registered office

Unit 4
Newman Lane Industrial Estate
Alton
Hampshire
GU34 2QR

Accountants

Addicus
Chartered Accountants
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Jacobson Chemicals Limited

(Registration number: 01395730)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

26,449

35,098

Current assets

 

Stocks

129,354

128,813

Debtors

5

173,842

150,134

Cash at bank and in hand

 

203,845

281,118

 

507,041

560,065

Creditors: Amounts falling due within one year

6

(113,442)

(195,138)

Net current assets

 

393,599

364,927

Total assets less current liabilities

 

420,048

400,025

Provisions for liabilities

(5,819)

(6,669)

Net assets

 

414,229

393,356

Capital and reserves

 

Called up share capital

5,000

5,000

Retained earnings

409,229

388,356

Shareholders' funds

 

414,229

393,356

 

Jacobson Chemicals Limited

(Registration number: 01395730)
Balance Sheet as at 30 September 2023 (continued)

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 November 2023 and signed on its behalf by:
 


MI Cooper
Director

 

Jacobson Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4
Newman Lane Industrial Estate
Alton
Hampshire
GU34 2QR

These financial statements were authorised for issue by the Board on 10 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

Jacobson Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10% on cost

Plant and machinery

25% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Jacobson Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Jacobson Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

4

Tangible assets

Leasehold improvements
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 October 2022

56,018

39,058

118,259

128,032

Disposals

-

-

(2,380)

-

At 30 September 2023

56,018

39,058

115,879

128,032

Depreciation

At 1 October 2022

56,018

36,547

113,134

100,570

Charge for the year

-

376

1,238

6,865

Eliminated on disposal

-

-

(2,210)

-

At 30 September 2023

56,018

36,923

112,162

107,435

Carrying amount

At 30 September 2023

-

2,135

3,717

20,597

At 30 September 2022

-

2,511

5,125

27,462

Total
£

Cost or valuation

At 1 October 2022

341,367

Disposals

(2,380)

At 30 September 2023

338,987

Depreciation

At 1 October 2022

306,269

Charge for the year

8,479

Eliminated on disposal

(2,210)

At 30 September 2023

312,538

Carrying amount

At 30 September 2023

26,449

At 30 September 2022

35,098

 

Jacobson Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

5

Debtors

2023
£

2022
£

Trade debtors

145,960

127,660

Prepayments

27,882

22,474

173,842

150,134

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

69,751

103,818

Taxation and social security

25,037

29,200

Accruals and deferred income

18,654

4,828

Other creditors

-

57,292

113,442

195,138

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

33,728

-

Later than one year and not later than five years

3,120

82,058

36,848

82,058