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COMPANY REGISTRATION NUMBER: 00468497
JONATHAN ALCOCK & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
31 December 2023
JONATHAN ALCOCK & SONS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Page
Directors' report
1
Chartered certified accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of jonathan alcock & sons limited
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
JONATHAN ALCOCK & SONS LIMITED
DIRECTORS' REPORT
YEAR ENDED 31 DECEMBER 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Directors
The directors who served the company during the year were as follows:
B Parker
S L Parker
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 16 April 2024 and signed on behalf of the board by:
B Parker
Director
Registered office:
Brook House
Brook Road
Cheadle
Cheshire
SK8 1PQ
JONATHAN ALCOCK & SONS LIMITED
CHARTERED CERTIFIED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JONATHAN ALCOCK & SONS LIMITED
YEAR ENDED 31 DECEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Jonathan Alcock & Sons Limited for the year ended 31 December 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of The Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Jonathan Alcock & Sons Limited, as a body, in accordance with the terms of my engagement letter dated 18 May 2021. My work has been undertaken solely to prepare for your approval the financial statements of Jonathan Alcock & Sons Limited and state those matters that I have agreed to state to you, as a body, in this report in accordance with the requirements of The Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Jonathan Alcock & Sons Limited and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that Jonathan Alcock & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jonathan Alcock & Sons Limited. You consider that Jonathan Alcock & Sons Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of Jonathan Alcock & Sons Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
GILLIAN GRIFFITHS Chartered Certified Accountant
20 Mulberry Close Heald Green Cheadle Cheshire SK8 3NJ
16 April 2024
JONATHAN ALCOCK & SONS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED 31 DECEMBER 2023
2023
2022
Note
£
£
Turnover
1,825,519
1,857,342
Cost of sales
( 1,175,640)
( 1,139,139)
------------
------------
Gross profit
649,879
718,203
Administrative expenses
( 411,013)
( 410,070)
Other operating income
( 2,905)
6,161
---------
---------
Operating profit
235,961
314,294
Other interest receivable and similar income
5,082
543
Interest payable and similar expenses
( 50,311)
( 40,265)
---------
---------
Profit before taxation
5
190,732
274,572
Tax on profit
( 56,462)
( 74,216)
---------
---------
Profit for the financial year and total comprehensive income
134,270
200,356
---------
---------
Dividends paid and payable
( 96,000)
( 85,000)
Retained earnings at the start of the year
867,629
752,273
---------
---------
Retained earnings at the end of the year
905,899
867,629
---------
---------
All the activities of the company are from continuing operations.
JONATHAN ALCOCK & SONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
6
1
1
Tangible assets
7
1,232,348
1,288,996
------------
------------
1,232,349
1,288,997
Current assets
Stocks
8
16,620
11,344
Debtors
9
172,157
167,548
Cash at bank and in hand
319,092
238,569
---------
---------
507,869
417,461
Creditors: amounts falling due within one year
10
( 490,667)
( 477,804)
---------
---------
Net current assets/(liabilities)
17,202
( 60,343)
------------
------------
Total assets less current liabilities
1,249,551
1,228,654
Creditors: amounts falling due after more than one year
11
( 261,497)
( 275,685)
Provisions
12
( 79,555)
( 82,740)
------------
------------
Net assets
908,499
870,229
------------
------------
Capital and reserves
Called up share capital
2,600
2,600
Profit and loss account
905,899
867,629
---------
---------
Shareholders funds
908,499
870,229
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JONATHAN ALCOCK & SONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 16 April 2024 , and are signed on behalf of the board by:
B Parker
Director
Company registration number: 00468497
JONATHAN ALCOCK & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brook House, Brook Road, Cheadle, Cheshire, SK8 1PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
3.1 Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
3.2 Disclosure exemptions
The disclosure requirements of section 1A of FRS 102 have been applied other than where the additional disclosure is required to show a true and fair view.
3.3 Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, being that of funeral directors. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
3.4 Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
3.5 Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
3.6 Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
3.7 Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
25% per annum straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
3.8 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
3.9 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2.5% per annum straight line
Fixtures and fittings
-
20% per annum reducing balance
Motor vehicles
-
20% per annum reducing balance
3.10 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3.11 Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3.12 Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
3.13 Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 21 (2022: 17 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
75,900
83,130
--------
--------
6. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
135,000
---------
Amortisation
At 1 January 2023 and 31 December 2023
134,999
---------
Carrying amount
At 31 December 2023
1
---------
At 31 December 2022
1
---------
7. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
1,342,839
197,769
487,060
2,027,668
Additions
7,802
11,450
19,252
------------
---------
---------
------------
At 31 December 2023
1,350,641
209,219
487,060
2,046,920
------------
---------
---------
------------
Depreciation
At 1 January 2023
277,265
133,844
327,563
738,672
Charge for the year
33,766
10,584
31,550
75,900
------------
---------
---------
------------
At 31 December 2023
311,031
144,428
359,113
814,572
------------
---------
---------
------------
Carrying amount
At 31 December 2023
1,039,610
64,791
127,947
1,232,348
------------
---------
---------
------------
At 31 December 2022
1,065,574
63,925
159,497
1,288,996
------------
---------
---------
------------
8. Stocks
2023
2022
£
£
Stock
16,620
11,344
--------
--------
9. Debtors
2023
2022
£
£
Trade debtors
102,468
164,687
Other debtors
69,689
2,861
---------
---------
172,157
167,548
---------
---------
10. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
35,478
30,823
Trade creditors
16,756
31,488
Corporation tax
59,647
63,060
Social security and other taxes
20,165
8,413
Other creditors
358,621
344,020
---------
---------
490,667
477,804
---------
---------
Included in other creditors is amount of £49,808 (2022 - £49,719) due to related parties.
11. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
261,497
275,685
---------
---------
Included in other creditors falling due after more than one year is an amount of £261,497 (2022 - £275,685) in respect of a bank loan. The bank loan is secured by a fixed and floating charge over the assets of the company.
12. Provisions
Deferred tax (note 13)
£
At 1 January 2023
82,740
Charge against provision
( 3,185)
--------
At 31 December 2023
79,555
--------
13. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions (note 12)
79,555
82,740
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
79,555
82,740
--------
--------
14. Directors' advances, credits and guarantees
Included in creditors are loans from directors 2023: £266,163 (2022: £249,917). The loans carry an interest rate of 8% per annum and are repayable on demand.
15. Related party transactions
Mr S Kenny Mr Sean Kenny is the partner of the director and shareholder Ms S Parker. The amount due to the related party at 31 December 2023 £49,808 (2022 - £49,719). The amount is subject to interest at 8% per annum and is repayable on demand. During the year Mr Kenny entered into a Green Commute Initiative agreement with the company. The amount owed by the related party at 31 December 2023 £3,456 (2022 - £-)