Registration number:
A C Jackson Ltd
for the Year Ended 31 July 2023
A C Jackson Ltd
(Registration number: 08072188)
Balance Sheet as at 31 July 2023
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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A C Jackson Ltd
(Registration number: 08072188)
Balance Sheet as at 31 July 2023
For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and the option not to file the Directors Report and Profit and Loss Account has been taken.
Approved and authorised by the
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A C Jackson Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
A C Jackson Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
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. The amount provided included work completed, both in full or in part, prior to the period end which was invoiced after the balance sheet date. Turnover is shown net of value added tax.
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.
The current 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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 |
Plant and machinery - Other tangible assets |
25% reducing balance |
Fixtures and fittings - Furniture, fittings and equipment |
25% reducing balance |
Motor vehicles |
20% reducing balance |
Office equipment - Furniture, fittings and equipment |
33% reducing balance |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Stock comprises direct materials and, where applicable, overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment.
A C Jackson Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
A C Jackson Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 August 2022 |
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Additions |
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Disposals |
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At 31 July 2023 |
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Depreciation |
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At 1 August 2022 |
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Charge for the year |
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Eliminated on disposal |
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- |
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At 31 July 2023 |
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Carrying amount |
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At 31 July 2023 |
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At 31 July 2022 |
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Stocks |
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2022 |
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Other inventories |
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A C Jackson Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
The hire purchase liabilities, included within loans and borrowings, are secured against the assets they relate to. Finance and loan facilities, included within loan and borrowings, are secured by a fixed and floating charge over the assets of the company.
A C Jackson Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Related party transactions |
Summary of transactions with other related parties
This amount is interest free, repayable on demand and shown in other debtors.
At the year-end A C Jackson Limited was owed by AC Jackson Holdings Limited £34,378. AC Jackson Holdings Limited is the parent company of A C Jackson Limited by virtue of it's 100% ownership of the issued share capital.
This amount is interest free, repayable on demand and shown in other debtors.