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JEPSON FUNERALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JEPSON FUNERALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: R B Jepson
T E Jepson
Mrs J A Jepson
H W Jepson
Mrs C E Parker





REGISTERED OFFICE: 29 Knowleston Place
Matlock
Derbyshire
DE4 3BU





REGISTERED NUMBER: 00670113 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 429,436 485,436
Tangible assets 5 1,513,096 1,477,657
Investments 6 27,948 27,948
1,970,480 1,991,041

CURRENT ASSETS
Stocks 36,821 12,864
Debtors 7 307,156 215,803
Cash at bank and in hand 1,065,861 753,102
1,409,838 981,769
CREDITORS
Amounts falling due within one year 8 645,121 558,309
NET CURRENT ASSETS 764,717 423,460
TOTAL ASSETS LESS CURRENT LIABILITIES 2,735,197 2,414,501

CREDITORS
Amounts falling due after more than one
year

9

(175,482

)

(313,506

)

PROVISIONS FOR LIABILITIES 12 (215,853 ) (215,129 )
NET ASSETS 2,343,862 1,885,866

CAPITAL AND RESERVES
Called up share capital 13 67,002 67,002
Revaluation reserve 14 88,953 88,953
Retained earnings 2,187,907 1,729,911
SHAREHOLDERS' FUNDS 2,343,862 1,885,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:




Mrs J A Jepson - Director



T E Jepson - Director


JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Jepson Funerals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 20% on reducing balance and 5% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Goodwill
Goodwill of £560,000, being the amount paid in connection with the goodwill and trading name of Joseph Lymer & Sons in 2021, is being amortised over its estimated useful life of ten years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 1,205,827
AMORTISATION
At 1 July 2022 720,391
Amortisation for year 56,000
At 30 June 2023 776,391
NET BOOK VALUE
At 30 June 2023 429,436
At 30 June 2022 485,436

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2022 405,000 213,785 405,252 1,271,104 2,295,141
Additions 85,089 - 55,409 50,875 191,373
Disposals - - - (42,995 ) (42,995 )
At 30 June 2023 490,089 213,785 460,661 1,278,984 2,443,519
DEPRECIATION
At 1 July 2022 - 84,151 259,524 473,809 817,484
Charge for year - 10,689 25,817 79,120 115,626
Eliminated on disposal - - - (2,687 ) (2,687 )
At 30 June 2023 - 94,840 285,341 550,242 930,423
NET BOOK VALUE
At 30 June 2023 490,089 118,945 175,320 728,742 1,513,096
At 30 June 2022 405,000 129,634 145,728 797,295 1,477,657

Cost or valuation at 30 June 2023 is represented by:

Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
Valuation in 2021 88,953 - - - 88,953
Cost 401,136 213,785 460,661 1,278,984 2,354,566
490,089 213,785 460,661 1,278,984 2,443,519

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 27,948
NET BOOK VALUE
At 30 June 2023 27,948
At 30 June 2022 27,948

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 254,836 192,352
Other debtors 52,320 23,451
307,156 215,803

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 75,696 75,253
Hire purchase contracts (see note 10) 61,885 58,654
Trade creditors 144,228 151,369
Taxation and social security 214,038 103,882
Other creditors 149,274 169,151
645,121 558,309

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 148,744 224,883
Hire purchase contracts (see note 10) 26,738 88,623
175,482 313,506

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 61,885 58,654
Between one and five years 26,738 88,623
88,623 147,277

Non-cancellable operating leases
2023 2022
£    £   
Within one year 154,032 158,968
Between one and five years 497,283 551,516
In more than five years 254,400 354,200
905,715 1,064,684

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 224,440 300,136
Hire purchase contracts 88,623 147,277
313,063 447,413

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 215,853 215,129

Deferred
tax
£   
Balance at 1 July 2022 215,129
Provided during year 724
Balance at 30 June 2023 215,853

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal value: 2023 2022
£    £   
16,800 Ordinary A £1.00 16,800 16,800
16,800 Ordinary B £1.00 16,800 16,800
6,800 Ordinary C £1.00 6,800 6,800
14,802 Ordinary D £1.00 14,802 14,802
11,800 Ordinary E £1.00 11,800 11,800
67,002 67,002

14. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 88,953

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


15. RELATED PARTY DISCLOSURES

During the year the company made rental payments of £138,299 for seven properties owned by The Jepson Family Pension Scheme (2022 - £125,634).

16. CHARGES

The company has a fixed and floating charge that covers all the property or undertaking of the company.