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Registration number: 08584158

S & J Associates Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023

 

S & J Associates Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

S & J Associates Limited

(Registration number: 08584158)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

17,382

19,362

Current assets

 

Debtors

5

149

138

Cash at bank and in hand

 

4,879

12,300

 

5,028

12,438

Creditors: Amounts falling due within one year

6

(11,978)

(16,257)

Net current liabilities

 

(6,950)

(3,819)

Total assets less current liabilities

 

10,432

15,543

Creditors: Amounts falling due after more than one year

6

(3,909)

(8,869)

Provisions for liabilities

(826)

(920)

Net assets

 

5,697

5,754

Capital and reserves

 

Called up share capital

100

100

Retained earnings

5,597

5,654

Shareholders' funds

 

5,697

5,754

For the financial year ending 30 June 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 3 November 2023 and signed on its behalf by:
 

 

S & J Associates Limited

(Registration number: 08584158)
Balance Sheet as at 30 June 2023

.........................................
Mrs Jacqueline Lines
Company secretary and director

.........................................
Mr Stephen Lines
Director

 

S & J Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
4 Missenden Road
Winslow
Buckinghamshire
MK18 3AS
United Kingdom

These financial statements were authorised for issue by the Board on 3 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

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

Turnover comprises 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 gross 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.

 

S & J Associates Limited

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

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.

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

Motor Vehicles

10% reducing balance

Office Equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

 

S & J Associates Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

S & J Associates Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

329

29,193

29,522

At 30 June 2023

329

29,193

29,522

Depreciation

At 1 July 2022

121

10,039

10,160

Charge for the year

65

1,915

1,980

At 30 June 2023

186

11,954

12,140

Carrying amount

At 30 June 2023

143

17,239

17,382

At 30 June 2022

208

19,154

19,362

The finance leases are secured on the assets concerned. At 30 June 2023, the total net book value of assets held under hire purchase agreements was £17,238. The total depreciation charged in the period on these assets was £1,915.

5

Debtors

Current

2023
£

2022
£

Prepayments

149

138

 

S & J Associates Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

4,965

7,442

Taxation and social security

 

5,777

7,272

Accruals and deferred income

 

1,176

1,536

Other creditors

 

60

7

 

11,978

16,257

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

3,909

8,869

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £228.00 (2022 - £237.00) per ordinary share

 

22,800

 

23,700

         
 

S & J Associates Limited

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

9

Related party transactions

At the balance sheet date the company owed £58 (2021: £7) to the directors. There are no terms of repayment or interest charged on this loan.






 

10

Ultimate controling party

The ultimate controlling party is Stephen Lines by virtue of his majority share holding.