Company registration number 04141754 (England and Wales)
JAMES LABELS & SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
JAMES LABELS & SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Statement of changes in equity
1
Notes to the financial statements
4 - 8
JAMES LABELS & SUPPLIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 February 2022
2
751,288
751,290
Year ended 31 January 2023:
Profit and total comprehensive income
-
188,526
188,526
Dividends
-
(120,000)
(120,000)
Balance at 31 January 2023
2
819,814
819,816
Year ended 31 January 2024:
Profit and total comprehensive income
-
135,674
135,674
Issue of share capital
9
2
-
2
Dividends
-
(100,000)
(100,000)
Balance at 31 January 2024
4
855,488
855,492
JAMES LABELS & SUPPLIES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
3
-
0
-
0
Tangible assets
4
372,689
313,700
372,689
313,700
Current assets
Stocks
108,047
94,667
Debtors
5
337,083
300,298
Cash at bank and in hand
403,600
416,687
848,730
811,652
Creditors: amounts falling due within one year
6
(234,761)
(180,861)
Net current assets
613,969
630,791
Total assets less current liabilities
986,658
944,491
Creditors: amounts falling due after more than one year
7
(37,994)
(46,250)
Provisions for liabilities
9
(93,172)
(78,425)
Net assets
855,492
819,816
Capital and reserves
Called up share capital
9
4
2
Profit and loss reserves
855,488
819,814
Total equity
855,492
819,816

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 6 August 2024 and are signed on its behalf by:
JAMES LABELS & SUPPLIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
Mr A P James
Director
Company Registration No. 04141754
JAMES LABELS & SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

James Labels & Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 2 - 3 Plantation Mill, Market Street, Bacup, Lancashire, OL13 0BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.true

1.3
Turnover

Turnover represents amounts receivable for label manufacturing, printing and supplying net of VAT and trade discounts.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
12.5% Reducing balance
Fixtures, fittings & equipment
12.5% to 25% Reducing balance
Motor vehicles
25% Reducing balance
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

JAMES LABELS & SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 14 (2023 - 11).

2024
2023
Number
Number
Total
14
11
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
19,200
Amortisation and impairment
At 1 February 2023 and 31 January 2024
19,200
Carrying amount
At 31 January 2024
-
0
At 31 January 2023
-
0
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2023
599,061
69,227
84,490
752,778
Additions
74,064
5,675
34,745
114,484
Disposals
(101,264)
(11,155)
-
0
(112,419)
At 31 January 2024
571,861
63,747
119,235
754,843
Depreciation and impairment
At 1 February 2023
354,252
53,630
31,196
439,078
Depreciation charged in the year
30,368
4,004
14,306
48,678
Eliminated in respect of disposals
(94,807)
(10,795)
-
0
(105,602)
At 31 January 2024
289,813
46,839
45,502
382,154
Carrying amount
At 31 January 2024
282,048
16,908
73,733
372,689
At 31 January 2023
244,809
15,597
53,294
313,700
JAMES LABELS & SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
327,852
265,118
Corporation tax recoverable
-
0
31,799
Other debtors
9,231
3,381
337,083
300,298

Other debtors comprise prepayments £9,231 (2023 £3,381),

6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
12,500
22,500
Obligations under finance leases
3,847
-
0
Trade creditors
97,072
65,385
Corporation tax
75,695
47,456
Other taxation and social security
32,765
38,783
Other creditors
9,678
2,956
Accruals and deferred income
3,204
3,781
234,761
180,861

Other creditors comprise £9,678 (2023 £2,956) loan from the director.

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,417
46,250
Obligations under finance leases
27,577
-
0
37,994
46,250
JAMES LABELS & SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
8
Deferred taxation

The following are the deferred tax liabilities recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
94,203
78,425
Statutory database figures differ from the trial balance:
Deferred tax balances
93,172
78,425
Difference
1,031
-
2024
Movements in the year:
£
Liability at 1 February 2023
78,425
Charge to profit or loss
15,778
Liability at 31 January 2024
94,203
JAMES LABELS & SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
0 (2023: 1) Ordinary A shares of £1 each
-
1
0 (2023: 1) Ordinary B shares of £1 each
-
1
4 (2023: 0) Ordinary shares of £1 each
4
-
4
2
During the year 2 £1 Ordinary shares were issued and the £1 Ordinary A and £1 Ordinary B shares were reclassified to Ordinary shares.
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