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  JONATHAN LOESCHER & CO LTD
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 OCTOBER 2023
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  JONATHAN LOESCHER & CO LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 OCTOBER 2023
       
       
  DIRECTOR
       
  Mr Jonathan A Loescher FCA
       
       
  SECRETARY
       
  Mrs E Loescher
       
  REGISTERED OFFICE
       
  The Steading
Jerrys Lane
Packington
Lichfelds Staffs
       
       
  COMPANY REGISTERED NUMBER
       
  04567648
       
       
  BANKERS
       
  Barclays Bank plc
       
       
  SOLICITORS
       
  Fishers.
       
       
  ACCOUNTANT
       
       
  Chartered Accountants
  Jonathan Loescher Chartered Accountant
       
       
  CONTENTS
       
  Pages
       
       
  2-3 Statement of Financial Position  
       
       
  4-8 Notes to the Financial Statements  
       
     
  page 1
  JONATHAN LOESCHER & CO LTD
  Company registered number: 04567648
  STATEMENT OF FINANCIAL POSITION AT 31 October 2023
           
    Note 2023 2022
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 4 5,266 6,229
  CURRENT ASSETS    
  Inventories   500 750
  Debtors 5 181,880 189,304
  Cash at bank and in hand   26,170 -
      208,550 190,054
  CREDITORS: Amounts falling due within one year 6 81,113 42,781
  NET CURRENT ASSETS   127,437 147,273
  TOTAL ASSETS LESS CURRENT LIABILITIES   132,703 153,502
           
  PROVISIONS FOR LIABILITIES   (1,000) (1,100)
  NET ASSETS   £131,703 £152,402
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   131,603 152,302
  SHAREHOLDERS' FUNDS   £131,703 £152,402
       
  The notes on pages 4-8 form part of these financial statements
   
  page 2
  JONATHAN LOESCHER & CO LTD
  Company registered number: 04567648
  STATEMENT OF FINANCIAL POSITION AT 31 October 2023 (CONT.)
           
    Note 2023 2022
      £ £ £
       
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 30 July 2024
 
  Signed on behalf of the board of directors
 
 
       
  Mr Jonathan A Loescher FCA, Director
       
       
  The notes on pages 4-8 form part of these financial statements
   
  page 3
  JONATHAN LOESCHER & CO LTD
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 OCTOBER 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Jonathan Loescher & Co Ltd is a company limited by shares incorporated in England and Wales.
         
  Registered office:
  The Steading
Jerrys Lane
Packington
Lichfelds Staffs
         
  Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
         
1e. Taxation
         
  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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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. The measurement of deferred tax liabilities and assets reflects 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 relate 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.
         
 
         
 
  The notes on pages 4-8 form part of these financial statements
   
  page 4
  JONATHAN LOESCHER & CO LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 OCTOBER 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
  Intangible assets
         
         
         
         
       
1g. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1h. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1i. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1j. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1k. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
  The notes on pages 4-8 form part of these financial statements
   
  page 5
  JONATHAN LOESCHER & CO LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 OCTOBER 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1l. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1m. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
         
1n. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1o. Discontinued operations
         
  A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.
         
         
1p. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
  The notes on pages 4-8 form part of these financial statements
   
  page 6
  JONATHAN LOESCHER & CO LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 OCTOBER 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1q. Judgements and key sources of estimation uncertainty
         
  In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
         
 
         
 
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2023 2022
    No. No.
  Management and administration 1 1
  Production and sales 1 1
    2 2
   
       
       
3. INTANGIBLE FIXED ASSETS
       
    Goodwill Total
    £ £
  Cost
       
  At 1 November 2022 90,000 90,000
  At 31 October 2023 90,000 90,000
  Amortisation
       
  At 1 November 2022 90,000 90,000
  At 31 October 2023 90,000 90,000
   
  Net Book Amounts
       
  At 31 October 2023 - -
   
  The notes on pages 4-8 form part of these financial statements
   
  page 7
  JONATHAN LOESCHER & CO LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 OCTOBER 2023
           
4. PROPERTY, PLANT AND EQUIPMENT
    Short Plant & Fixtures &  
    Leasehold Machinery Equipment Total
    £ £ £ £
  Cost
           
  At 1 November 2022 1,043 4,536 12,794 18,373
           
  At 31 October 2023 1,043 4,536 12,794 18,373
   
  Depreciation
           
  At 1 November 2022 417 1,835 9,892 12,144
  For the year 209 93 661 963
  At 31 October 2023 626 1,928 10,553 13,107
   
  Net Book Amounts
           
  At 31 October 2023 417 2,608 2,241 5,266
  At 31 October 2022 626 2,701 2,902 6,229
   
       
       
5. DEBTORS 2023 2022
    £ £
  Trade debtors 31,380 29,304
  UK Corporation tax 13,500 -
  Other debtors 137,000 160,000
    £181,880 £189,304
   
       
       
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2023 2022
    £ £
  Debenture loans 949 949
  Bank loans and overdrafts - 20,546
  Trade creditors (1) (1)
  Corporation tax - 10,600
  Other taxes and social security 17,112 7,690
  Other creditors 63,053 2,997
    £81,113 £42,781
   
       
  The notes on pages 4-8 form part of these financial statements
   
  page 8