Registered number
07712093
J & J Wall Ltd
Filleted Accounts
31 July 2023
J & J Wall Ltd
Registered number: 07712093
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 35,413 30,065
Current assets
Stocks 18,073 36,612
Debtors 4 70,798 32,609
Cash at bank and in hand 65,326 48,531
154,197 117,752
Creditors: amounts falling due within one year 5 (109,267) (90,308)
Net current assets 44,930 27,444
Total assets less current liabilities 80,343 57,509
Creditors: amounts falling due after more than one year 6 (17,265) (29,167)
Net assets 63,078 28,342
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,978 28,242
Shareholders' funds 63,078 28,342
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.
S D Wall
Director
Approved by the board on 16 February 2024
J & J Wall Ltd
Notes to the Accounts
for the year ended 31 July 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).
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 3 years
Motor vehicles over 5 years
Fixtures, fittings, tools and equipment over 3 years
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 4,158 64,575 68,733
Additions 1,405 12,400 13,805
At 31 July 2023 5,563 76,975 82,538
Depreciation
At 1 August 2022 2,912 35,756 38,668
Charge for the year 1,197 7,260 8,457
At 31 July 2023 4,109 43,016 47,125
Net book value
At 31 July 2023 1,454 33,959 35,413
At 31 July 2022 1,246 28,819 30,065
4 Debtors 2023 2022
£ £
Trade debtors 45,414 11,639
Other debtors 25,384 20,970
70,798 32,609
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 13,929 12,201
Trade creditors 21,909 39,471
Taxation and social security costs 49,326 35,299
Other creditors 24,103 3,337
109,267 90,308
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,265 29,167
7 Other information
J & J Wall Ltd is a private company limited by shares and incorporated in England. Its registered office is:
141A New Road
Ascot
BERKS
SL5 8QA
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