Silverfin false false 30/09/2023 01/10/2022 30/09/2023 R Thomas 01/04/2023 A Thomas 16/11/2004 J Wilkinson 31/03/2023 29/09/2018 22 March 2024 The principal activity of the Company during the financial year was the retail sale of furniture and furnishings. 00393685 2023-09-30 00393685 bus:Director1 2023-09-30 00393685 bus:Director2 2023-09-30 00393685 bus:Director3 2023-09-30 00393685 2022-09-30 00393685 core:CurrentFinancialInstruments 2023-09-30 00393685 core:CurrentFinancialInstruments 2022-09-30 00393685 core:Non-currentFinancialInstruments 2023-09-30 00393685 core:Non-currentFinancialInstruments 2022-09-30 00393685 core:ShareCapital 2023-09-30 00393685 core:ShareCapital 2022-09-30 00393685 core:CapitalRedemptionReserve 2023-09-30 00393685 core:CapitalRedemptionReserve 2022-09-30 00393685 core:RetainedEarningsAccumulatedLosses 2023-09-30 00393685 core:RetainedEarningsAccumulatedLosses 2022-09-30 00393685 core:Vehicles 2022-09-30 00393685 core:FurnitureFittings 2022-09-30 00393685 core:Vehicles 2023-09-30 00393685 core:FurnitureFittings 2023-09-30 00393685 bus:OrdinaryShareClass1 2023-09-30 00393685 core:WithinOneYear 2023-09-30 00393685 core:WithinOneYear 2022-09-30 00393685 core:BetweenOneFiveYears 2023-09-30 00393685 core:BetweenOneFiveYears 2022-09-30 00393685 core:MoreThanFiveYears 2023-09-30 00393685 core:MoreThanFiveYears 2022-09-30 00393685 2022-10-01 2023-09-30 00393685 bus:FilletedAccounts 2022-10-01 2023-09-30 00393685 bus:SmallEntities 2022-10-01 2023-09-30 00393685 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 00393685 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 00393685 bus:Director1 2022-10-01 2023-09-30 00393685 bus:Director2 2022-10-01 2023-09-30 00393685 bus:Director3 2022-10-01 2023-09-30 00393685 core:Vehicles 2022-10-01 2023-09-30 00393685 core:FurnitureFittings 2022-10-01 2023-09-30 00393685 2021-10-01 2022-09-30 00393685 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 00393685 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00393685 (England and Wales)

JULIAN & SON LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

JULIAN & SON LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

JULIAN & SON LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2023
JULIAN & SON LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTORS R Thomas
A Thomas
SECRETARY S Banks
REGISTERED OFFICE 42 Station Road
St Blazey
Par
PL24 2LZ
United Kingdom
COMPANY NUMBER 00393685 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
JULIAN & SON LIMITED

BALANCE SHEET

As at 30 September 2023
JULIAN & SON LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 261,035 255,266
261,035 255,266
Current assets
Stocks 4 1,468,481 1,461,728
Debtors 5 21,857 102,359
Cash at bank and in hand 873,365 1,740,217
2,363,703 3,304,304
Creditors: amounts falling due within one year 6 ( 1,175,666) ( 1,373,073)
Net current assets 1,188,037 1,931,231
Total assets less current liabilities 1,449,072 2,186,497
Creditors: amounts falling due after more than one year 7 ( 9,615) ( 12,429)
Provision for liabilities 8 ( 53,605) ( 42,575)
Net assets 1,385,852 2,131,493
Capital and reserves
Called-up share capital 9 7,312 7,312
Capital redemption reserve 628 628
Profit and loss account 1,377,912 2,123,553
Total shareholders' funds 1,385,852 2,131,493

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Julian & Son Limited (registered number: 00393685) were approved and authorised for issue by the Board of Directors on 22 March 2024. They were signed on its behalf by:

A Thomas
Director
JULIAN & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
JULIAN & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Julian & Son Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 42 Station Road, St Blazey, Par, PL24 2LZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the retail of furniture, lighting, and similar in a specialised store. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
The current corporation 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
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Long leasehold - over life of lease

Vehicles 25 % reducing balance
Fixtures and fittings 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

The company holds the following financial instruments:

•Short term trade and other debtors and creditors; and
•Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 39 40

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 October 2022 241,638 322,578 564,216
Additions 34,995 18,205 53,200
Disposals ( 49,822) ( 3,120) ( 52,942)
At 30 September 2023 226,811 337,663 564,474
Accumulated depreciation
At 01 October 2022 150,060 158,890 308,950
Charge for the financial year 24,654 16,465 41,119
Disposals ( 45,190) ( 1,440) ( 46,630)
At 30 September 2023 129,524 173,915 303,439
Net book value
At 30 September 2023 97,287 163,748 261,035
At 30 September 2022 91,578 163,688 255,266

4. Stocks

2023 2022
£ £
Stocks 1,468,481 1,461,728

5. Debtors

2023 2022
£ £
Trade debtors 5,835 9,389
Amounts owed by Group undertakings 5,557 0
Other debtors 10,465 92,970
21,857 102,359

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 296,603 347,401
Amounts owed to Group undertakings 5,400 15,932
Taxation and social security 152,561 132,140
Other creditors 721,102 877,600
1,175,666 1,373,073

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 9,615 12,429

8. Provision for liabilities

2023 2022
£ £
Deferred tax 53,605 42,575

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
7,312 Ordinary shares of £ 1.00 each 7,312 7,312

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 308,101 308,101
between one and five years 1,206,154 1,232,404
after five years 0 281,851
1,514,255 1,822,356

11. Ultimate controlling party

Parent Company:

Julian & Son (Topco) Limited
42 Station Road, Par, Cornwall, United Kingdom, PL24 2LZ