Acorah Software Products - Accounts Production 14.5.601 false true true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 09667072 Mr Ian Jones Mr Malcolm Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09667072 2022-08-31 09667072 2023-08-31 09667072 2022-09-01 2023-08-31 09667072 frs-core:CurrentFinancialInstruments 2023-08-31 09667072 frs-core:Non-currentFinancialInstruments 2023-08-31 09667072 frs-core:ShareCapital 2023-08-31 09667072 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 09667072 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09667072 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 09667072 frs-bus:SmallEntities 2022-09-01 2023-08-31 09667072 frs-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 09667072 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 09667072 frs-core:DeferredTaxation 2022-09-01 2023-08-31 09667072 frs-core:DeferredTaxation 2023-08-31 09667072 frs-bus:Director1 2022-09-01 2023-08-31 09667072 frs-bus:Director2 2022-09-01 2023-08-31 09667072 frs-countries:EnglandWales 2022-09-01 2023-08-31 09667072 2021-08-31 09667072 2022-08-31 09667072 2021-09-01 2022-08-31 09667072 frs-core:CurrentFinancialInstruments 2022-08-31 09667072 frs-core:Non-currentFinancialInstruments 2022-08-31 09667072 frs-core:ShareCapital 2022-08-31 09667072 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 09667072
I JONES & SONS LTD
Financial Statements
For The Year Ended 31 August 2023
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the statement of financial position as at year ended 31 August 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
12th April 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 1
Page 2
Statement of Financial Position
Registered number: 09667072
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 80,000 66,052
80,000 66,052
CURRENT ASSETS
Debtors 5 1,060 580
Cash at bank and in hand 130 964
1,190 1,544
Creditors: Amounts Falling Due Within One Year 6 (58,796 ) (57,477 )
NET CURRENT ASSETS (LIABILITIES) (57,606 ) (55,933 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,394 10,119
Creditors: Amounts Falling Due After More Than One Year 7 (12,166 ) (13,951 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (2,650 ) -
NET ASSETS/(LIABILITIES) 7,578 (3,832 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Income Statement 7,576 (3,834 )
SHAREHOLDERS' FUNDS 7,578 (3,832)
Page 2
Page 3
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Ian Jones
Director
Mr Malcolm Jones
Director
12th April 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
I JONES & SONS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 09667072 . The registered office is 1 Tape Street, Cheadle, Stoke On Trent, Staffordshire, ST10 1BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
Page 4
Page 5
2.5. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Investment Property
2023
£
Fair Value
As at 1 September 2022 66,052
Revaluations 13,948
As at 31 August 2023 80,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 66,052 -
The property was revalued on 16th June 2023 by Reeds Rains.
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 1,060 580
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 2
Bank loans and overdrafts 1,785 1,785
Other creditors 57,011 55,690
58,796 57,477
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 12,166 13,951
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 2,650 -
9. Provisions for Liabilities
Deferred Tax Total
£ £
Deferred taxation 2,650 2,650
Balance at 31 August 2023 2,650 2,650
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 6