Registered number
06348831
Jacques Joinery Limited
Unaudited Filleted Accounts
31 August 2023
Foster & Co Ltd
Chartered Accountants
Preston
Jacques Joinery Limited
Registered number: 06348831
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 10,000 12,500
Tangible assets 4 6,980 8,696
16,980 21,196
Current assets
Debtors 5 17,460 12,143
Cash at bank and in hand 5,142 8,855
22,602 20,998
Creditors: amounts falling due within one year 6 (33,403) (32,389)
Net current liabilities (10,801) (11,391)
Total assets less current liabilities 6,179 9,805
Creditors: amounts falling due after more than one year 7 (5,250) (8,250)
Provisions for liabilities (917) (1,153)
Net assets 12 402
Capital and reserves
Called up share capital 2 2
Profit and loss account 10 400
Shareholders' funds 12 402
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Jacques
Director
Approved by the board on 29 July 2024
Jacques Joinery Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 20% on written down value
Fixtures, fittings, tools and equipment 15% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 25,000
At 31 August 2023 25,000
Amortisation
At 1 September 2022 12,500
Provided during the year 2,500
At 31 August 2023 15,000
Net book value
At 31 August 2023 10,000
At 31 August 2022 12,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 1,169 21,874 23,043
At 31 August 2023 1,169 21,874 23,043
Depreciation
At 1 September 2022 710 13,637 14,347
Charge for the year 69 1,647 1,716
At 31 August 2023 779 15,284 16,063
Net book value
At 31 August 2023 390 6,590 6,980
At 31 August 2022 459 8,237 8,696
5 Debtors 2023 2022
£ £
Trade debtors - 8,950
Other debtors 17,460 3,193
17,460 12,143
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,000 3,000
Taxation and social security costs 21,673 12,769
Other creditors 8,730 16,620
33,403 32,389
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,250 8,250
8 Other information
Jacques Joinery Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Eastway Business Village
Olivers Place
Fulwood
Preston
PR2 9WT
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