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REGISTERED NUMBER: 05055313 (England and Wales)















JACKSONS COATINGS LIMITED

Financial Statements for the Year Ended 30 June 2024






JACKSONS COATINGS LIMITED (Registered number: 05055313)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JACKSONS COATINGS LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: L R Marston
N Stacey





REGISTERED OFFICE: 1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ





REGISTERED NUMBER: 05055313 (England and Wales)





ACCOUNTANTS: Maclean & Company
1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3 2,284
Tangible assets 5 68,063 80,886
68,066 83,170

CURRENT ASSETS
Stocks 37,088 32,398
Debtors 6 57,989 102,636
Cash at bank and in hand 23,067 951
118,144 135,985
CREDITORS
Amounts falling due within one year 7 141,033 119,826
NET CURRENT (LIABILITIES)/ASSETS (22,889 ) 16,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,177

99,329

CREDITORS
Amounts falling due after more than one
year

8

-

(13,300

)

PROVISIONS FOR LIABILITIES 10 (12,932 ) (16,404 )
NET ASSETS 32,245 69,625

CAPITAL AND RESERVES
Called up share capital 180 180
Capital redemption reserve 11 20 20
Retained earnings 11 32,045 69,425
SHAREHOLDERS' FUNDS 13 32,245 69,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





N Stacey - Director


JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

JACKSONS COATINGS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office furniture & equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Product design costs
Expenditure on the specific development, design and implementation of new products and processes is amortised evenly over their estimated useful lives of five years.

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Product
design
costs
£   
COST
At 1 July 2023
and 30 June 2024 22,514
AMORTISATION
At 1 July 2023 20,230
Amortisation for year 2,281
At 30 June 2024 22,511
NET BOOK VALUE
At 30 June 2024 3
At 30 June 2023 2,284

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Office
Plant and Motor furniture
machinery vehicles & equipment Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 275,356 9,000 12,430 296,786
DEPRECIATION
At 1 July 2023 201,359 2,250 12,291 215,900
Charge for year 11,100 1,688 35 12,823
At 30 June 2024 212,459 3,938 12,326 228,723
NET BOOK VALUE
At 30 June 2024 62,897 5,062 104 68,063
At 30 June 2023 73,997 6,750 139 80,886

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2023
and 30 June 2024 86,500
DEPRECIATION
At 1 July 2023 33,379
Charge for year 7,968
At 30 June 2024 41,347
NET BOOK VALUE
At 30 June 2024 45,153
At 30 June 2023 53,121

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 57,130 102,636
Other debtors 859 -
57,989 102,636

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 22,401 45,475
Hire purchase contracts 12,500 12,500
Trade creditors 99,405 38,903
Taxation 6,727 22,948
141,033 119,826

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts - 12,500
Other creditors - 800
- 13,300

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 12,500 25,000

The Hire purchase contracts are secured against the specific fixed assets to which they relate (note 8).

10. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 12,932 16,404

Deferred
tax
£   
Balance at 1 July 2023 16,404
Credit to Income Statement during year (3,472 )
Balance at 30 June 2024 12,932

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2023 69,425 20 69,445
Deficit for the year (13,380 ) - (13,380 )
Dividends (24,000 ) - (24,000 )
At 30 June 2024 32,045 20 32,065

JACKSONS COATINGS LIMITED (Registered number: 05055313)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. RELATED PARTY DISCLOSURES

During the year, the company made sales of £321,608 (2023 - £316,428) on normal commercial terms, to Metal Cabinet Sales Limited, a company in which N Stacey is a director and shareholder, and L R Marston previously was a director and shareholder..

At the year end, the company owed £70,248 (2023 - was owed £47,741 from) to Metal Cabinet Sales Limited, this balance being included in "Trade creditors" (note 10).

13. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
30.6.24 30.6.23
£    £   
(Loss)/profit for the financial year (13,380 ) 57,298
Dividends (24,000 ) (24,000 )
Net (reduction)/addition to shareholders' funds (37,380 ) 33,298
Opening shareholders' funds 69,625 36,327
Closing shareholders' funds 32,245 69,625