2023-04-012024-03-312024-03-31false04993914J & E ENTERPRISES 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J & E ENTERPRISES LIMITED

Registered Number
04993914
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

J & E ENTERPRISES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

SPECK, Caroline Tracy
SPECK, Emily
SPECK, Howard
SPECK, Jonathan Roger Charles

Company Secretary

SPECK, Howard

Registered Address

Highfield Hotel
The Heads
Keswick
CA12 5ER

Registered Number

04993914 (England and Wales)
J & E ENTERPRISES LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets5206,360249,801
Investments6333,170328,122
539,530577,923
Current assets
Stocks77,8409,360
Debtors8,9105,550103,230
Cash at bank and on hand137,140113,818
250,530226,408
Creditors amounts falling due within one year10(362,626)(290,877)
Net current assets (liabilities)(112,096)(64,469)
Total assets less current liabilities427,434513,454
Creditors amounts falling due after one year11(392,233)(401,962)
Provisions for liabilities12(34,800)(22,300)
Net assets40189,192
Capital and reserves
Called up share capital100100
Profit and loss account30189,092
Shareholders' funds40189,192
The financial statements were approved and authorised for issue by the Board of Directors on 31 July 2024, and are signed on its behalf by:
SPECK, Caroline Tracy
Director
Registered Company No. 04993914
J & E ENTERPRISES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings10-
Plant and machinery10-
Fixtures and fittings20-
Vehicles20-
Office Equipment-3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Finance leases and hire purchase contracts
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, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year3642
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2325,00025,000
At 31 March 2425,00025,000
Amortisation and impairment
At 01 April 2325,00025,000
At 31 March 2425,00025,000
Net book value
At 31 March 24--
At 31 March 23--
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of goodwill has been set at 14 years and the asset will be amortized on a straight line basis over that period.
5.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 2380,921168,908118,097133,27611,625512,827
Additions-367-6,316-6,683
Disposals-(14,212)-(15,079)-(29,291)
At 31 March 2480,921155,063118,097124,51311,625490,219
Depreciation and impairment
At 01 April 2327,228111,70023,38991,5269,183263,026
Charge for year5,3715,34412,42211,1161,28235,535
On disposals-(6,448)-(8,254)-(14,702)
At 31 March 2432,599110,59635,81194,38810,465283,859
Net book value
At 31 March 2448,32244,46782,28630,1251,160206,360
At 31 March 2353,69357,20894,70841,7502,442249,801
6.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 23328,122328,122
Additions5,0485,048
At 31 March 24333,170333,170
Net book value
At 31 March 24333,170333,170
At 31 March 23328,122328,122

Notes

1Investments in group undertakings and participating interests
7.Stocks

2024

2023

££
Raw materials and consumables7,8409,360
Total7,8409,360
8.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings84,21316,687
Other debtors45067,839
Prepayments and accrued income19,74316,312
Total104,406100,838
9.Debtors: amounts due after one year

2024

2023

££
Prepayments and accrued income1,1442,392
Total1,1442,392
10.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables50,88774,077
Bank borrowings and overdrafts65,27356,783
Taxation and social security29,29844,122
Finance lease and HP contracts9,7289,559
Other creditors131,8034,975
Accrued liabilities and deferred income75,637101,361
Total362,626290,877
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts350,000350,000
Other creditors42,23351,962
Total392,233401,962
Bank loans are secured on personal property owned by the directors.
12.Provisions for liabilities
The provision for deferred tax is made up of £36,769 in respect of accelerated capital allowances and £1,969 in respect of losses carried forward.

2024

2023

££
Net deferred tax liability (asset)34,80022,300
Total34,80022,300
13.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £11,164 (2023 - £13,660).
14.Directors advances, credits and guarantees
On 1 April 2023 a director owed the Company £6,848. During the period this director was advanced a further £83,516 and repaid £90,365. At 31 March 2024 this director owed the Company £Nil. Interest of £237 was charged on this loan. On 1 April 2023 a director owed the Company £2,540. During the period this director was advanced a further £6,434 and repaid £8,974. At 31 March 2024 this director owed the Company £Nil. No interest was charged on this loan.
15.Related party transactions
During the year a director had a loan account with the company. At the balance sheet date the company owed the director £8,162 (2023 £2,327), This loan is unsecured, interest free and repayable upon demand. During the year a director had a loan account with the company. At the balance sheet date the company owed the director £3,831 (2023 £Nil), This loan is unsecured, interest free and repayable upon demand. During the year a director had a loan account with the company. At the balance sheet date the company owed the director £117,876 (2023 £Nil), This loan is unsecured, interest free and repayable upon demand. During the year the company continued to loan funds interest free to Shills of Cockermouth Limited, its subsidiary undertaking. At the balance sheet date the company was owed £84,313 (2023 - £16,687) by Shills of Cockermouth Limited. During the year the directors rented a property to the company. The rent paid was £80,000 (2023 £80,000).