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REGISTERED NUMBER: 04493950 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

JACK WAGHORN INTERNATIONAL LIMITED

JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JACK WAGHORN INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: S P J Waghorn
G Waghorn





SECRETARY: S P J Waghorn





REGISTERED OFFICE: 30-34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 04493950 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 56,123 90,348
56,123 90,348

CURRENT ASSETS
Debtors 6 525,251 559,412
Cash at bank and in hand 56,045 89,288
581,296 648,700
CREDITORS
Amounts falling due within one year 7 (419,394 ) (486,780 )
NET CURRENT ASSETS 161,902 161,920
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,025

252,268

CREDITORS
Amounts falling due after more than one
year

8

(57,719

)

(91,919

)

PROVISIONS FOR LIABILITIES (20,233 ) (20,233 )
NET ASSETS 140,073 140,116

CAPITAL AND RESERVES
Called up share capital 10 100 100
Capital redemption reserve 44 44
Retained earnings 139,929 139,972
SHAREHOLDERS' FUNDS 140,073 140,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





G Waghorn - Director


JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Jack Waghorn International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 60,000
AMORTISATION
At 1 October 2022
and 30 September 2023 60,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022 125,542 171,312 51,009 347,863
Additions 5,275 - 752 6,027
Disposals (24,299 ) (85,931 ) - (110,230 )
At 30 September 2023 106,518 85,381 51,761 243,660
DEPRECIATION
At 1 October 2022 108,705 110,802 38,008 257,515
Charge for year 7,002 12,438 4,584 24,024
Eliminated on disposal (23,515 ) (70,487 ) - (94,002 )
At 30 September 2023 92,192 52,753 42,592 187,537
NET BOOK VALUE
At 30 September 2023 14,326 32,628 9,169 56,123
At 30 September 2022 16,837 60,510 13,001 90,348

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 14,658 171,312 185,970
DEPRECIATION
At 1 October 2022 11,882 110,802 122,684
Charge for year 916 12,437 13,353
At 30 September 2023 12,798 123,239 136,037
NET BOOK VALUE
At 30 September 2023 1,860 48,073 49,933
At 30 September 2022 2,776 60,510 63,286

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 419,084 508,109
Other debtors 106,167 51,303
525,251 559,412

JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,465 25,465
Hire purchase contracts (see note 9) 8,745 8,745
Trade creditors 197,940 167,877
Taxation and social security 44,214 44,540
Other creditors 143,030 240,153
419,394 486,780

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 42,414 67,869
Hire purchase contracts (see note 9) 15,305 24,050
57,719 91,919

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 10,318 10,318
Between one and five years 18,057 28,375
28,375 38,693

Finance charges repayable:
Within one year 1,573 1,573
Between one and five years 2,752 4,325
4,325 5,898

Net obligations repayable:
Within one year 8,745 8,745
Between one and five years 15,305 24,050
24,050 32,795

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 Ordinary B £1 51 51
10 Ordinary C £1 10 10
39 Ordinary D £1 39 39
100 100

JACK WAGHORN INTERNATIONAL LIMITED (REGISTERED NUMBER: 04493950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. GOVERNMENT GRANTS

Last year other income included amounts received from the Government's Coronavirus Job Retention Scheme. The income was received in the form of grants