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Registration number: 01495704

CJ Commercials (Thetford) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

CJ Commercials (Thetford) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

CJ Commercials (Thetford) Limited

Company Information

Directors

Mrs Joyce Margaret Parrott

Mr Stephen John Parrott

Mr John Colin Parrott

Mrs Michelle Linda Parrott

Mr Alex John Parrott

Company secretary

Mrs Joyce Margaret Parrott

Registered office

59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

Accountants

Jacobs Allen Limited
Chartered Accountants and Chartered Tax Advisers
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

CJ Commercials (Thetford) Limited

(Registration number: 01495704)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

290

414

Current assets

 

Stocks

95,766

109,482

Debtors

6

6,643

1,814

Cash at bank and in hand

 

49,661

38,485

 

152,070

149,781

Creditors: Amounts falling due within one year

7

(236,655)

(234,860)

Net current liabilities

 

(84,585)

(85,079)

Net liabilities

 

(84,295)

(84,665)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(84,395)

(84,765)

Shareholders' deficit

 

(84,295)

(84,665)

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

Approved and authorised by the Board on 8 February 2024 and signed on its behalf by:
 

.........................................
Mr Stephen John Parrott
Director

 

CJ Commercials (Thetford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB
England

The principal place of business is:
Ellendean Hockwold Road
Weeting
Brandon
Suffolk
IP27 0QE
United Kingdom

These financial statements were authorised for issue by the Board on 8 February 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis. The balance sheet shows net liabilities of £84,295 (2022: £84,665). Of the company's liabilities £205,470 (2022: £204,905) is owed to the directors who have agreed to continue to support the company. The company has sufficient funds to meet its day to day working capital requirements and expects to be able to continue to do so for at least one year after the accounts have been approved.

Revenue recognition

Turnover comprises amounts chargeable in respect of property renovation, sales of goods including mobility scooters, net of value added tax, and rental income.

 

CJ Commercials (Thetford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

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

25% written down value

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

124

124

 

CJ Commercials (Thetford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2022

503

2,730

3,233

Disposals

(211)

(1,468)

(1,679)

At 31 May 2023

292

1,262

1,554

Depreciation

At 1 June 2022

501

2,318

2,819

Charge for the year

2

122

124

Eliminated on disposal

(211)

(1,468)

(1,679)

At 31 May 2023

292

972

1,264

Carrying amount

At 31 May 2023

-

290

290

At 31 May 2022

2

412

414

6

Debtors

Current

2023
£

2022
£

Trade debtors

5,276

641

Prepayments

1,367

1,173

 

6,643

1,814

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,691

461

Accruals and deferred income

6,372

6,372

Other creditors

228,592

228,027

236,655

234,860

 

CJ Commercials (Thetford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Related party transactions

Other transactions with directors

The directors have provided interest free loans to the company in the sum of £205,470 (2022: £204,905). These loans are repayable on demand.