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REGISTERED NUMBER: 06922461 (England and Wales)















JSE SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 31 MARCH 2024






JSE SYSTEMS LIMITED (REGISTERED NUMBER: 06922461)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


JSE SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024







DIRECTORS: L Johnson
Mrs D Johnson
N R Johnson
S J Welbourn



SECRETARY: Mrs D Johnson



REGISTERED OFFICE: Wood Lodge
Pitts Hill Farm
Ancaster
Grantham
Lincolnshire
NG32 3PY



REGISTERED NUMBER: 06922461 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: Lloyds Bank
2 North Gate
Sleaford
Lincolnshire
NG347BL

JSE SYSTEMS LIMITED (REGISTERED NUMBER: 06922461)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,472,406 1,145,601
Investments 5 2,310,763 2,210,157
Investment property 6 668,385 668,385
4,451,554 4,024,143

CURRENT ASSETS
Stocks 903,128 1,358,822
Debtors 7 487,581 990,780
Cash at bank 38,020 592,397
1,428,729 2,941,999
CREDITORS
Amounts falling due within one year 8 770,616 1,836,878
NET CURRENT ASSETS 658,113 1,105,121
TOTAL ASSETS LESS CURRENT LIABILITIES 5,109,667 5,129,264

CREDITORS
Amounts falling due after more than one year 9 (577,963 ) (522,000 )

PROVISIONS FOR LIABILITIES (294,198 ) (271,726 )
NET ASSETS 4,237,506 4,335,538

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 4,237,406 4,335,438
SHAREHOLDERS' FUNDS 4,237,506 4,335,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

JSE SYSTEMS LIMITED (REGISTERED NUMBER: 06922461)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2024 and were signed on its behalf by:





N R Johnson - Director


JSE SYSTEMS LIMITED (REGISTERED NUMBER: 06922461)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

JSE Systems 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 for agricultural contracting services, excluding value added tax, recognised on the day the work is undertaken.

Also included in turnover is the company's share of the results of a farming partnership in which the company is a partner.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and fair value less costs to sell, after making allowances for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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.

JSE SYSTEMS LIMITED (REGISTERED NUMBER: 06922461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Fixed asset investments
The company's interest in the capital of the partnership is recognised within fixed assets at cost less impairment, along with the accumulated amount of any undrawn profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 18 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 2,633,470 - 251,941 2,885,411
Additions 924,184 78,312 79,103 1,081,599
Disposals (629,698 ) - (60,175 ) (689,873 )
At 31 March 2024 2,927,956 78,312 270,869 3,277,137
DEPRECIATION
At 1 January 2023 1,615,594 - 124,216 1,739,810
Charge for period 539,994 9,784 53,294 603,072
Eliminated on disposal (505,132 ) - (33,019 ) (538,151 )
At 31 March 2024 1,650,456 9,784 144,491 1,804,731
NET BOOK VALUE
At 31 March 2024 1,277,500 68,528 126,378 1,472,406
At 31 December 2022 1,017,876 - 127,725 1,145,601

5. FIXED ASSET INVESTMENTS
Interest
in
partnership
£   
COST
At 1 January 2023 2,210,157
Additions 200,000
Share of profit/(loss) (99,394 )
At 31 March 2024 2,310,763
NET BOOK VALUE
At 31 March 2024 2,310,763
At 31 December 2022 2,210,157

JSE SYSTEMS LIMITED (REGISTERED NUMBER: 06922461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 March 2024 668,385
NET BOOK VALUE
At 31 March 2024 668,385
At 31 December 2022 668,385

The investment properties were valued by the directors as at 31 March 2024 by considering the fair values of recent, comparable property sales in the local area.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 471,543 842,359
Other debtors 3,000 99,936
Prepayments and accrued income 13,038 48,485
487,581 990,780

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Hire purchase contracts 72,862 22,000
Trade creditors 292,551 1,606,609
Taxation - 112,314
Other taxes and social security 27,776 90,466
Other creditors 372,000 -
Accrued expenses 5,427 5,489
770,616 1,836,878

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans - more than 5 years 500,000 500,000
Hire purchase contracts 77,963 22,000
577,963 522,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans - more than 5 years 500,000 500,000

JSE SYSTEMS LIMITED (REGISTERED NUMBER: 06922461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Bank loans 500,000 500,000
Hire purchase contracts 150,825 44,000
650,825 544,000

Hire purchase contracts are secured on the asset to which they relate. The bank loan is secured by a fixed charge over the investment property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal value: 2021 2020
£ £
5,000 Ordinary £0.01 50 50
5,000 Ordinary A £0.01 50 50
100 100