Company Registration Number 01537408 (England and Wales)
JANGRO (LEICESTER) LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
JANGRO (LEICESTER) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JANGRO (LEICESTER) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
389,157
338,007
Investment properties
4
95,000
95,000
484,157
433,007
Current assets
Stocks
190,422
221,731
Debtors
5
598,401
437,944
Cash at bank and in hand
4,344
6,396
793,167
666,071
Creditors: amounts falling due within one year
6
(482,995)
(329,225)
Net current assets
310,172
336,846
Total assets less current liabilities
794,329
769,853
Provisions for liabilities
(69,911)
(45,603)
Net assets
724,418
724,250
Capital and reserves
Called up share capital
7
1,130
1,130
Revaluation reserve
8
130,833
141,300
Profit and loss reserves
592,455
581,820
Total equity
724,418
724,250
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JANGRO (LEICESTER) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 December 2023 and are signed on its behalf by:
W S Hargrave
Director
Company Registration No. 01537408
JANGRO (LEICESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information
Jangro (Leicester) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Gelders Hall Road, Shepshed, Leicestershire, LE12 9NH.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of cleaning materials, janitorial supplies and equipment is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Fifty years estimated useful life
Alterations to leasehold
Straight line over the life of the lease
Machinery and equipment
Straight line 15% and 25% per annum on cost
Motor vehicles
33% per annum of net book value
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
JANGRO (LEICESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
26
28
JANGRO (LEICESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2022
241,486
319,598
561,084
Additions
20,621
103,662
124,283
Disposals
(1,561)
(71,585)
(73,146)
At 31 October 2023
260,546
351,675
612,221
Depreciation and impairment
At 1 November 2022
38,683
184,394
223,077
Depreciation charged in the year
6,444
53,256
59,700
Eliminated in respect of disposals
(1,561)
(58,152)
(59,713)
At 31 October 2023
43,566
179,498
223,064
Carrying amount
At 31 October 2023
216,980
172,177
389,157
At 31 October 2022
202,803
135,204
338,007
4
Investment property
2023
£
Fair value
At 1 November 2022 and 31 October 2023
95,000
The fair value of the investment property is stated at the directors' valuation and has been guided by independent advice from external valuers obtained in January 2022, and the latest property indices.
The historical cost equivalent of investment properties stated at fair value is £95,000 (2022 - £95,000).
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
316,748
290,419
Other debtors
239,677
110,188
Prepayments and accrued income
41,976
37,337
598,401
437,944
JANGRO (LEICESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
201,522
180,546
Corporation tax
39,427
28,555
Other taxation and social security
77,223
54,694
Other creditors
145,189
38,607
Accruals and deferred income
19,634
26,823
482,995
329,225
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
1,000
1,000
1,000
1,000
Ordinary 'B' shares of £1 each
50
50
50
50
Ordinary 'Employee A' shares of £1 each
50
50
50
50
Ordinary 'Employee B' shares of £1 each
30
30
30
30
1,130
1,130
1,130
1,130
8
Revaluation reserve
2023
2022
£
£
At the beginning of the year
141,300
Revaluation surplus arising in the year
141,300
Deferred tax on revaluation of tangible assets
(10,467)
At the end of the year
130,833
141,300
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
31,200
99,600