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Registration number: 08072188

A C Jackson Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

A C Jackson Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

A C Jackson Ltd

(Registration number: 08072188)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

406,793

544,192

Current assets

 

Stocks

5

263,636

218,881

Debtors

6

2,469,806

2,092,052

Cash at bank and in hand

 

1,078,830

1,346,059

 

3,812,272

3,656,992

Creditors: Amounts falling due within one year

7

(3,505,319)

(2,535,987)

Net current assets

 

306,953

1,121,005

Total assets less current liabilities

 

713,746

1,665,197

Creditors: Amounts falling due after more than one year

7

(235,176)

(383,185)

Provisions for liabilities

(94,224)

(94,297)

Net assets

 

384,346

1,187,715

Capital and reserves

 

Called up share capital

102

102

Profit and loss account

384,244

1,187,613

Shareholders' funds

 

384,346

1,187,715

 

A C Jackson Ltd

(Registration number: 08072188)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors Report and Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 February 2024 and signed on its behalf by:
 

.........................................
Mr Andrew Charles Jackson
Director

 

A C Jackson Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Buffer Depot
Rode Street
Tarporley
Cheshire
CW6 0EF
UK

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

 

A C Jackson Ltd

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. The amount provided included work completed, both in full or in part, prior to the period end which was invoiced after the balance sheet date. Turnover is shown net of value added tax.

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.

Tax

The tax expense for the period comprises current and deferred tax.

The current 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 is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 - Other tangible assets

25% reducing balance

Fixtures and fittings - Furniture, fittings and equipment

25% reducing balance

Motor vehicles

20% reducing balance

Office equipment - Furniture, fittings and equipment

33% reducing balance

Stocks

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

Stock comprises direct materials and, where applicable, overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment.

 

A C Jackson Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2022 - 44).

 

A C Jackson Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

135,259

276,415

865,903

1,277,577

Additions

1,957

-

91,447

93,404

Disposals

(1,087)

-

(380,822)

(381,909)

At 31 July 2023

136,129

276,415

576,528

989,072

Depreciation

At 1 August 2022

99,417

100,203

533,765

733,385

Charge for the year

10,437

35,242

71,407

117,086

Eliminated on disposal

(864)

-

(267,328)

(268,192)

At 31 July 2023

108,990

135,445

337,844

582,279

Carrying amount

At 31 July 2023

27,139

140,970

238,684

406,793

At 31 July 2022

35,842

176,212

332,138

544,192

5

Stocks

2023
£

2022
£

Other inventories

263,636

218,881

 

A C Jackson Ltd

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

6

Debtors

2023
£

2022
£

Trade debtors

2,428,586

1,585,237

Prepayments

6,842

6,635

Other debtors

34,378

500,180

2,469,806

2,092,052

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

142,365

197,749

Trade creditors

 

1,738,659

2,010,789

Taxation and social security

 

191,288

66,147

Other creditors

 

1,433,007

261,302

 

3,505,319

2,535,987

Due after one year

 

Loans and borrowings

8

235,176

383,185

8

Loans and borrowings

The hire purchase liabilities, included within loans and borrowings, are secured against the assets they relate to. Finance and loan facilities, included within loan and borrowings, are secured by a fixed and floating charge over the assets of the company.

 

A C Jackson Ltd

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

9

Related party transactions

Summary of transactions with other related parties

At the year-end ACJ Developments (Cheshire) Limited is owed £1,820 (2022 owed the company £500,180). ACJ Developments Limited is related to A C Jackson Limited as the directors are directors of both companies.

This amount is interest free, repayable on demand and shown in other debtors.

At the year-end A C Jackson Limited was owed by AC Jackson Holdings Limited £34,378. AC Jackson Holdings Limited is the parent company of A C Jackson Limited by virtue of it's 100% ownership of the issued share capital.

This amount is interest free, repayable on demand and shown in other debtors.