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COMPANY REGISTRATION NUMBER: 8513135
JE Anthony Ltd
Unaudited Financial Statements
31 May 2023
JE Anthony Ltd
Financial Statements
Year ended 31 May 2023
Contents
Pages
Officers and professional advisers
1
Directors' report
2
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
6 to 8
JE Anthony Ltd
Officers and Professional Advisers
The board of directors
Mr J.E. Anthony
Mrs A.J. Anthony
Registered office
9 Hubberston Road
Hubberston
Milford Haven
Pembrokeshire
SA73 3PR
Accountants
Evens & Co Ltd
Chartered Accountants
Hamilton House
Hamilton Terrace
Milford Haven
Pembrokeshire
SA73 3JP
JE Anthony Ltd
Directors' Report
Year ended 31 May 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2023 .
Directors
The directors who served the company during the year were as follows:
Mr J.E. Anthony
Mrs A.J. Anthony
Directors responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with the applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company Law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year.
In preparing these financial statements, the directors are required to:
* select suitable accounting policies and then apply them consistently;
* make judgements and estimates that are reasonable and prudent;
* prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 26 January 2024 and signed on behalf of the board by:
Mr J.E. Anthony
Director
JE Anthony Ltd
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of JE Anthony Ltd
Year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JE Anthony Ltd for the year ended 31 May 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of JE Anthony Ltd, as a body, in accordance with the terms of our engagement letter dated 26 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of JE Anthony Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JE Anthony Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that JE Anthony Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JE Anthony Ltd. You consider that JE Anthony Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of JE Anthony Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Evens & Co Ltd Chartered Accountants
Hamilton House Hamilton Terrace Milford Haven Pembrokeshire SA73 3JP
26 January 2024
JE Anthony Ltd
Statement of Income and Retained Earnings
Year ended 31 May 2023
2023
2022
Note
£
£
Turnover
78,365
29,455
--------
--------
Gross profit
78,365
29,455
Administrative expenses
( 30,524)
( 27,061)
--------
--------
Operating profit
47,841
2,394
Other interest receivable and similar income
1
Interest payable and similar expenses
( 309)
( 355)
--------
--------
Profit before taxation
5
47,533
2,039
Tax on profit
6
( 3,946)
--------
-------
Profit for the financial year and total comprehensive income
43,587
2,039
--------
-------
Dividends paid and payable
( 25,000)
Retained losses at the start of the year
( 16,070)
( 18,109)
--------
--------
Retained earnings/(losses) at the end of the year
2,517
( 16,070)
--------
--------
All the activities of the company are from continuing operations.
JE Anthony Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
7
830
541
Current assets
Debtors
8
57
Cash at bank and in hand
17,943
1,170
--------
-------
18,000
1,170
Creditors: amounts falling due within one year
9
( 9,228)
( 7,296)
--------
-------
Net current assets/(liabilities)
8,772
( 6,126)
-------
-------
Total assets less current liabilities
9,602
( 5,585)
Creditors: amounts falling due after more than one year
10
( 7,083)
( 10,483)
-------
--------
Net assets/(liabilities)
2,519
( 16,068)
-------
--------
Capital and reserves
Called up share capital
11
2
2
Profit and loss account
2,517
( 16,070)
-------
--------
Shareholders funds/(deficit)
2,519
( 16,068)
-------
--------
These financial statements have been prepared 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'.
For the year ending 31 May 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 .
These financial statements were approved by the board of directors and authorised for issue on 26 January 2024 , and are signed on behalf of the board by:
Mr J.E. Anthony
Director
Company registration number: 8513135
JE Anthony Ltd
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 9 Hubberston Road, Hubberston, Milford Haven, Pembrokeshire, SA73 3PR.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Equipment
-
25 % reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
277
181
----
----
6. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
3,946
-------
----
Tax on profit
3,946
-------
----
7. Tangible assets
Equipment
Total
£
£
Cost
At 1 June 2022
1,806
1,806
Additions
566
566
-------
-------
At 31 May 2023
2,372
2,372
-------
-------
Depreciation
At 1 June 2022
1,265
1,265
Charge for the year
277
277
-------
-------
At 31 May 2023
1,542
1,542
-------
-------
Carrying amount
At 31 May 2023
830
830
-------
-------
At 31 May 2022
541
541
-------
-------
8. Debtors
2023
2022
£
£
Other debtors
57
----
----
Other debtors include an amount of £Nil (2022 - £Nil) falling due after more than one year.
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts (secured)
3,400
3,400
Corporation tax
3,946
Social security and other taxes
66
222
Other creditors
1,816
3,674
-------
-------
9,228
7,296
-------
-------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts (secured)
7,083
10,483
-------
--------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
12. Related party transactions
The company was under the control of Mr J.E. Anthony and Mrs A.J. Anthony throughout the current and previous year. Mr J.E. Anthony and Mrs A.J. Anthony are the managing directors and majority shareholders. During the year the company paid dividends of £25,000 (2022 - £nil) to Mr J.E. & Mrs A.J. Anthony.