Company registration number 06460563 (England and Wales)
David Jones Accountants Limited
Unaudited financial statements
For the year ended 31 December 2023
David Jones Accountants Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
David Jones Accountants Limited
Statement of financial position
As at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
42,325
55,914
Tangible assets
4
11,494
14,046
53,819
69,960
Current assets
Stocks
1,680
2,210
Debtors
5
79,518
63,296
Cash at bank and in hand
198,339
190,015
279,537
255,521
Creditors: amounts falling due within one year
6
(216,440)
(198,000)
Net current assets
63,097
57,521
Total assets less current liabilities
116,916
127,481
Creditors: amounts falling due after more than one year
7
(33,796)
(39,815)
Provisions for liabilities
(380)
(469)
Net assets
82,740
87,197
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
82,640
87,097
Total equity
82,740
87,197

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2023 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.

David Jones Accountants Limited
Statement of financial position (continued)
As at 31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 24 June 2024 and are signed on its behalf by:
Mr D J Wood
Director
Company registration number 06460563 (England and Wales)
David Jones Accountants Limited
Notes to the financial statements
For the year ended 31 December 2023
- 3 -
1
Accounting policies
Company information

David Jones Accountants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Westgate House, 1 Westgate, Wetherby, LS22 6LL.

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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

David Jones Accountants Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 4 -

Amortisation 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:

Patents & licences
Nil
1.5
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:

Leasehold improvements
5 years
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

David Jones Accountants Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 5 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

David Jones Accountants Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
19
19
David Jones Accountants Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 7 -
3
Intangible fixed assets
Goodwill
Patents & licences
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
300,000
1,560
301,560
Amortisation and impairment
At 1 January 2023
245,646
-
0
245,646
Amortisation charged for the year
13,589
-
0
13,589
At 31 December 2023
259,235
-
0
259,235
Carrying amount
At 31 December 2023
40,765
1,560
42,325
At 31 December 2022
54,354
1,560
55,914
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
12,512
35,978
5,972
24,000
78,462
Additions
-
0
1,468
-
0
-
0
1,468
Disposals
-
0
(3,290)
-
0
-
0
(3,290)
At 31 December 2023
12,512
34,156
5,972
24,000
76,640
Depreciation and impairment
At 1 January 2023
12,512
28,309
5,289
18,306
64,416
Depreciation charged in the year
-
0
1,959
171
1,424
3,554
Eliminated in respect of disposals
-
0
(2,824)
-
0
-
0
(2,824)
At 31 December 2023
12,512
27,444
5,460
19,730
65,146
Carrying amount
At 31 December 2023
-
0
6,712
512
4,270
11,494
At 31 December 2022
-
0
7,669
683
5,694
14,046
David Jones Accountants Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 8 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
29,871
43,399
Other debtors
49,647
19,897
79,518
63,296
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,556
5,556
Trade creditors
11,015
8,581
Taxation and social security
66,173
36,106
Other creditors
133,696
147,757
216,440
198,000
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
33,796
39,815
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
127,309
142,955
2023-12-312023-01-01false24 June 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr D R JonesMr D J WoodMrs C L Walkerfalsefalse064605632023-01-012023-12-31064605632023-12-31064605632022-12-3106460563core:Goodwill2023-12-3106460563core:PatentsTrademarksLicencesConcessionsSimilar2023-12-3106460563core:Goodwill2022-12-3106460563core:PatentsTrademarksLicencesConcessionsSimilar2022-12-3106460563core:LeaseholdImprovements2023-12-3106460563core:PlantMachinery2023-12-3106460563core:FurnitureFittings2023-12-3106460563core:MotorVehicles2023-12-3106460563core:LeaseholdImprovements2022-12-3106460563core:PlantMachinery2022-12-3106460563core:FurnitureFittings2022-12-3106460563core:MotorVehicles2022-12-3106460563core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106460563core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3106460563core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3106460563core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3106460563core:CurrentFinancialInstruments2023-12-3106460563core:CurrentFinancialInstruments2022-12-3106460563core:ShareCapital2023-12-3106460563core:ShareCapital2022-12-3106460563core:RetainedEarningsAccumulatedLosses2023-12-3106460563core:RetainedEarningsAccumulatedLosses2022-12-3106460563bus:Director22023-01-012023-12-3106460563core:Goodwill2023-01-012023-12-3106460563core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106460563core:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3106460563core:LeaseholdImprovements2023-01-012023-12-3106460563core:PlantMachinery2023-01-012023-12-3106460563core:FurnitureFittings2023-01-012023-12-3106460563core:MotorVehicles2023-01-012023-12-31064605632022-01-012022-12-3106460563core:Goodwill2022-12-3106460563core:PatentsTrademarksLicencesConcessionsSimilar2022-12-31064605632022-12-3106460563core:LeaseholdImprovements2022-12-3106460563core:PlantMachinery2022-12-3106460563core:FurnitureFittings2022-12-3106460563core:MotorVehicles2022-12-3106460563core:WithinOneYear2023-12-3106460563core:WithinOneYear2022-12-3106460563core:Non-currentFinancialInstruments2023-12-3106460563core:Non-currentFinancialInstruments2022-12-3106460563bus:PrivateLimitedCompanyLtd2023-01-012023-12-3106460563bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106460563bus:FRS1022023-01-012023-12-3106460563bus:AuditExemptWithAccountantsReport2023-01-012023-12-3106460563bus:Director12023-01-012023-12-3106460563bus:Director32023-01-012023-12-3106460563bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP