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JEPSON FUNERALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2023 TO 31 MARCH 2024






JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JEPSON FUNERALS LIMITED

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







DIRECTORS: R B Jepson
T E Jepson
Mrs J A Jepson
H W Jepson
Mrs C E Parker





REGISTERED OFFICE: 29 Knowleston Place
Matlock
Derbyshire
DE4 3BU





REGISTERED NUMBER: 00670113 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 387,436 429,436
Tangible assets 5 1,419,338 1,513,096
Investments 6 27,948 27,948
1,834,722 1,970,480

CURRENT ASSETS
Stocks 31,612 36,821
Debtors 7 289,084 307,156
Cash at bank and in hand 827,234 1,065,861
1,147,930 1,409,838
CREDITORS
Amounts falling due within one year 8 641,808 645,121
NET CURRENT ASSETS 506,122 764,717
TOTAL ASSETS LESS CURRENT LIABILITIES 2,340,844 2,735,197

CREDITORS
Amounts falling due after more than one year 9 (88,910 ) (175,482 )

PROVISIONS FOR LIABILITIES 12 (196,453 ) (215,853 )
NET ASSETS 2,055,481 2,343,862

CAPITAL AND RESERVES
Called up share capital 13 67,002 67,002
Revaluation reserve 14 88,953 88,953
Retained earnings 1,899,526 2,187,907
SHAREHOLDERS' FUNDS 2,055,481 2,343,862

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.

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

BALANCE SHEET - 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 16 August 2024 and were signed on its behalf by:





R B Jepson - Director


JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

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


1. STATUTORY INFORMATION

Jepson Funerals 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 20% on reducing balance and 5% on cost

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 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 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 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.

Hire purchase and leasing commitments
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.

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

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


2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill of £560,000, being the amount paid in connection with the goodwill and trading name of Joseph Lymer & Sons in 2021, is being amortised over its estimated useful life of ten years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 40 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 31 March 2024 1,205,827
AMORTISATION
At 1 July 2023 776,391
Amortisation for period 42,000
At 31 March 2024 818,391
NET BOOK VALUE
At 31 March 2024 387,436
At 30 June 2023 429,436

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2023 490,089 213,785 460,661 1,278,984 2,443,519
Additions - 37,864 84,567 20,997 143,428
Disposals - - (121,025 ) (89,950 ) (210,975 )
At 31 March 2024 490,089 251,649 424,203 1,210,031 2,375,972
DEPRECIATION
At 1 July 2023 - 94,840 285,341 550,242 930,423
Charge for period - 8,017 22,501 55,724 86,242
Eliminated on disposal - - (21,799 ) (38,232 ) (60,031 )
At 31 March 2024 - 102,857 286,043 567,734 956,634
NET BOOK VALUE
At 31 March 2024 490,089 148,792 138,160 642,297 1,419,338
At 30 June 2023 490,089 118,945 175,320 728,742 1,513,096

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

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


5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
Valuation in 2021 88,953 - - - 88,953
Cost 401,136 251,649 424,203 1,210,031 2,287,019
490,089 251,649 424,203 1,210,031 2,375,972

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 31 March 2024 27,948
NET BOOK VALUE
At 31 March 2024 27,948
At 30 June 2023 27,948

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 228,167 254,836
Other debtors 60,917 52,320
289,084 307,156

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 77,223 75,696
Hire purchase contracts (see note 10) 42,512 61,885
Trade creditors 159,817 144,228
Taxation and social security 226,956 214,038
Other creditors 135,300 149,274
641,808 645,121

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 88,910 148,744
Hire purchase contracts (see note 10) - 26,738
88,910 175,482

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

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


10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 42,512 61,885
Between one and five years - 26,738
42,512 88,623

Non-cancellable operating leases
2024 2023
£    £   
Within one year 152,160 154,032
Between one and five years 513,718 497,283
In more than five years 367,498 254,400
1,033,376 905,715

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 166,133 224,440
Hire purchase contracts 42,512 88,623
208,645 313,063

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 196,453 215,853

Deferred
tax
£   
Balance at 1 July 2023 215,853
Provided during period (19,400 )
Balance at 31 March 2024 196,453

JEPSON FUNERALS LIMITED (REGISTERED NUMBER: 00670113)

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


13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal value: 2023 2022
£    £   
16,800 Ordinary A £1.00 16,800 16,800
16,800 Ordinary B £1.00 16,800 16,800
6,800 Ordinary C £1.00 6,800 6,800
14,802 Ordinary D £1.00 14,802 14,802
11,800 Ordinary E £1.00 11,800 11,800
67,002 67,002

14. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 31 March 2024 88,953

15. RELATED PARTY DISCLOSURES

During the year the company made rental payments of £103,725 for seven properties owned by The Jepson Family Pension Scheme (2023 - £138,300).

16. CHARGES

The company has a fixed and floating charge that covers all the property or undertaking of the company.