IRIS Accounts Production v24.1.9.2 07434064 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074340642022-12-31074340642023-12-31074340642023-01-012023-12-31074340642021-12-31074340642022-01-012022-12-31074340642022-12-3107434064ns15:EnglandWales2023-01-012023-12-3107434064ns14:PoundSterling2023-01-012023-12-3107434064ns10:Director12023-01-012023-12-3107434064ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107434064ns10:SmallEntities2023-01-012023-12-3107434064ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107434064ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107434064ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107434064ns10:FullAccounts2023-01-012023-12-310743406412023-01-012023-12-3107434064ns10:Director22023-01-012023-12-3107434064ns10:RegisteredOffice2023-01-012023-12-3107434064ns5:CurrentFinancialInstruments2023-12-3107434064ns5:CurrentFinancialInstruments2022-12-3107434064ns5:Non-currentFinancialInstruments2023-12-3107434064ns5:Non-currentFinancialInstruments2022-12-3107434064ns5:ShareCapital2023-12-3107434064ns5:ShareCapital2022-12-3107434064ns5:RetainedEarningsAccumulatedLosses2023-12-3107434064ns5:RetainedEarningsAccumulatedLosses2022-12-3107434064ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3107434064ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3107434064ns5:LandBuildings2023-01-012023-12-3107434064ns5:PlantMachinery2023-01-012023-12-3107434064ns5:IntangibleAssetsOtherThanGoodwill2022-12-3107434064ns5:IntangibleAssetsOtherThanGoodwill2023-12-3107434064ns5:IntangibleAssetsOtherThanGoodwill2022-12-3107434064ns5:LandBuildings2022-12-3107434064ns5:PlantMachinery2022-12-3107434064ns5:LandBuildings2023-12-3107434064ns5:PlantMachinery2023-12-3107434064ns5:LandBuildings2022-12-3107434064ns5:PlantMachinery2022-12-3107434064ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3107434064ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3107434064ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3107434064ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3107434064ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107434064ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3107434064ns5:Secured2023-12-3107434064ns5:Secured2022-12-31
REGISTERED NUMBER: 07434064 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

JM & SE Jackson Limited

JM & SE Jackson Limited (Registered number: 07434064)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JM & SE Jackson Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J Jackson
Mrs S E Jackson





REGISTERED OFFICE: Longpools Farm
Hinstock
Market Drayton
Shropshire
TF9 2TG





REGISTERED NUMBER: 07434064 (England and Wales)

JM & SE Jackson Limited (Registered number: 07434064)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,500 2,500
Tangible assets 5 1,961,275 1,874,105
1,963,775 1,876,605

CURRENT ASSETS
Stocks 6 533,977 528,149
Debtors 7 188,284 251,849
Investments 8 110 110
Cash at bank 134,717 100,905
857,088 881,013
CREDITORS
Amounts falling due within one year 9 315,848 379,979
NET CURRENT ASSETS 541,240 501,034
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,505,015

2,377,639

CREDITORS
Amounts falling due after more than one
year

10

(230,416

)

(321,373

)

PROVISIONS FOR LIABILITIES (164,995 ) (108,266 )

ACCRUALS AND DEFERRED INCOME (17,741 ) (19,712 )
NET ASSETS 2,091,863 1,928,288

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,091,763 1,928,188
SHAREHOLDERS' FUNDS 2,091,863 1,928,288

JM & SE Jackson Limited (Registered number: 07434064)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





J Jackson - Director


JM & SE Jackson Limited (Registered number: 07434064)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

JM & SE Jackson 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.

Changes in accounting comparatives
The directors have considered the disclosure of certain items during the year and have decided that it is appropriate to amend the comparatives in places. There has been no impact on profit as amendments have affected the disclosures only.

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.

Entitlements are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - at variable rates on reducing balance
Plant and machinery etc - straight line over 3 years, 15% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Biological assets

The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.

In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at either lower of cost and estimated selling price less costs to complete and sell or fair value less costs to sell with any gain or loss arising on initial recognition of agricultural produce at fair value less costs to sell being included in profit or loss.

JM & SE Jackson Limited (Registered number: 07434064)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

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 balance sheet 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, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


JM & SE Jackson Limited (Registered number: 07434064)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 2,500
NET BOOK VALUE
At 31 December 2023 2,500
At 31 December 2022 2,500

JM & SE Jackson Limited (Registered number: 07434064)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,270,087 1,082,079 2,352,166
Additions - 187,881 187,881
Disposals - (26,500 ) (26,500 )
At 31 December 2023 1,270,087 1,243,460 2,513,547
DEPRECIATION
At 1 January 2023 23,270 454,791 478,061
Charge for year 2,915 84,714 87,629
Eliminated on disposal - (13,418 ) (13,418 )
At 31 December 2023 26,185 526,087 552,272
NET BOOK VALUE
At 31 December 2023 1,243,902 717,373 1,961,275
At 31 December 2022 1,246,817 627,288 1,874,105

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 147,069
Transfer to ownership (33,069 )
At 31 December 2023 114,000
DEPRECIATION
At 1 January 2023 22,381
Charge for year 13,185
Transfer to ownership (7,081 )
At 31 December 2023 28,485
NET BOOK VALUE
At 31 December 2023 85,515
At 31 December 2022 124,688

JM & SE Jackson Limited (Registered number: 07434064)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. STOCKS
31/12/23 31/12/22
£    £   
Dairy herd 220,980 217,680
Stocks 312,997 310,469
533,977 528,149

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 121,138 167,763
Other debtors 67,146 84,086
188,284 251,849

8. CURRENT ASSET INVESTMENTS
31/12/23 31/12/22
£    £   
Unlisted investments 110 110

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 8,070 21,686
Hire purchase contracts 7,825 44,198
Trade creditors 241,691 190,621
Taxation and social security 43,321 49,399
Other creditors 14,941 74,075
315,848 379,979

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans 230,416 315,215
Hire purchase contracts - 6,158
230,416 321,373

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 198,136 228,471

JM & SE Jackson Limited (Registered number: 07434064)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£    £   
Bank loans 238,486 336,901
Hire purchase contracts 7,825 50,356
246,311 387,257

Obligations under hire purchase and finance leases are secured by fixed charges on the assets concerned.

National Westminster Bank have a fixed and floating charge which covers the land or undertaking of the company.

12. RELATED PARTY DISCLOSURES

D E Jackson & Son
A partnership under common control

During the period the company bought produce and shared various costs with D E Jackson & Son. At the year end an amount of £58,644 was owed from the partnership (2022 £68,168 was owed from the partnership) in respect of these transactions.

13. ULTIMATE CONTROLLING PARTY

The shareholders and directors are the ultimate controlling parties.