Registered number
06148087
H J Jennings Ltd
Filleted Accounts
31 December 2023
H J Jennings Ltd
Registered number: 06148087
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 125,189 175,502
Current assets
Stocks 12,000 12,142
Debtors 5 278,685 209,643
Cash at bank and in hand 7,803 38,006
298,488 259,791
Creditors: amounts falling due within one year 7 (233,663) (272,621)
Net current assets/(liabilities) 64,825 (12,830)
Total assets less current liabilities 190,014 162,672
Creditors: amounts falling due after more than one year 8 (162,319) (184,893)
Deferred income 6 (1,154) (1,538)
Provisions for liabilities (26,290) (21,249)
Net assets/(liabilities) 251 (45,008)
Capital and reserves
Called up share capital 100 100
Profit and loss account 151 (45,108)
Shareholders' funds 251 (45,008)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Zunke
Director
Approved by the board on 15 April 2024
H J Jennings Ltd
Notes to the Accounts
for the period from 1 August 2022 to 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Government grants
Government grants are recognised in accordance with the accrual model set out in FRS 102.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 250,000
At 31 December 2023 250,000
Amortisation
At 1 August 2022 250,000
At 31 December 2023 250,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 409,396 25,094 434,490
Additions 12,229 - 12,229
Disposals - (17,621) (17,621)
At 31 December 2023 421,625 7,473 429,098
Depreciation
At 1 August 2022 247,942 11,046 258,988
Charge for the period 49,210 392 49,602
On disposals - (4,681) (4,681)
At 31 December 2023 297,152 6,757 303,909
Net book value
At 31 December 2023 124,473 716 125,189
At 31 July 2022 161,454 14,048 175,502
5 Debtors 2023 2022
£ £
Trade debtors 157,082 87,184
Amounts owed by group undertakings and undertakings in which the company has a participating interest 120,000 120,000
Other debtors 1,603 2,459
278,685 209,643
6 Deferred income 2023 2022
£ £
Government grants relating to fixed assets (1,154) (1,538)
At 31 December 2023 (1,154) (1,538)
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 87,135 150,756
Obligations under finance lease and hire purchase contracts 5,223 5,638
Trade creditors 31,570 41,913
Taxation and social security costs 61,054 25,451
Other creditors 48,681 48,863
233,663 272,621
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 159,970 176,454
Obligations under finance lease and hire purchase contracts 2,349 8,439
162,319 184,893
9 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 59,242 -
Secured bank loans 129,577 103,212
£52335 secured by a debenture dated 11 May 2007 on all monies due or becoming due from the company to HSBC Bank Plc on any account whatsoever. £77242 secured by the personal guarantees of the directors.
10 Controlling party
The company is a wholly owned subsidiary of Sunovis Ltd, a company registered in the UK whose registered office and principal place of business address is 5a Bath Place,Taunton, Somerset, TA1 4ER.
11 Other information
H J Jennings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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