11 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05315943 2023-04-01 2024-03-31 05315943 2024-03-31 05315943 2023-03-31 05315943 2022-04-01 2023-03-31 05315943 2023-03-31 05315943 2022-03-31 05315943 core:PlantMachinery 2023-04-01 2024-03-31 05315943 core:MotorVehicles 2023-04-01 2024-03-31 05315943 bus:Director2 2023-04-01 2024-03-31 05315943 core:PlantMachinery 2023-03-31 05315943 core:FurnitureFittingsToolsEquipment 2023-03-31 05315943 core:MotorVehicles 2023-03-31 05315943 core:PlantMachinery 2024-03-31 05315943 core:FurnitureFittingsToolsEquipment 2024-03-31 05315943 core:MotorVehicles 2024-03-31 05315943 core:WithinOneYear 2024-03-31 05315943 core:WithinOneYear 2023-03-31 05315943 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05315943 core:ShareCapital 2024-03-31 05315943 core:ShareCapital 2023-03-31 05315943 core:RetainedEarningsAccumulatedLosses 2024-03-31 05315943 core:RetainedEarningsAccumulatedLosses 2023-03-31 05315943 core:PlantMachinery 2023-03-31 05315943 core:FurnitureFittingsToolsEquipment 2023-03-31 05315943 core:MotorVehicles 2023-03-31 05315943 bus:SmallEntities 2023-04-01 2024-03-31 05315943 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05315943 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05315943 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05315943 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 05315943
James Cooper & Son (Tyneside) Ltd.
Unaudited filleted financial statements
31 March 2024
James Cooper & Son (Tyneside) Ltd.
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 267,130 263,800
_______ _______
267,130 263,800
Current assets
Stocks 78,500 78,000
Debtors 6 362,167 327,826
Cash at bank and in hand 80,095 73,883
_______ _______
520,762 479,709
Creditors: amounts falling due
within one year 7 ( 238,407) ( 206,602)
_______ _______
Net current assets 282,355 273,107
_______ _______
Total assets less current liabilities 549,485 536,907
Provisions for liabilities ( 64,000) ( 46,200)
_______ _______
Net assets 485,485 490,707
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 485,483 490,705
_______ _______
Shareholders funds 485,485 490,707
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 August 2024 , and are signed on behalf of the board by:
Mrs M D Cooper
Director
Company registration number: 05315943
James Cooper & Son (Tyneside) Ltd.
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Burnside Garage, Annitsford, Cramlington, Northumberland, NE23 7BD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % straight line
Motor vehicles - 10 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 11 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 104,678 1,984 1,175,711 1,282,373
Additions - - 55,351 55,351
Disposals ( 13,265) - ( 122,756) ( 136,021)
_______ _______ _______ _______
At 31 March 2024 91,413 1,984 1,108,306 1,201,703
_______ _______ _______ _______
Depreciation
At 1 April 2023 46,588 1,654 970,331 1,018,573
Charge for the year 8,530 60 33,064 41,654
Disposals ( 12,065) - ( 113,589) ( 125,654)
_______ _______ _______ _______
At 31 March 2024 43,053 1,714 889,806 934,573
_______ _______ _______ _______
Carrying amount
At 31 March 2024 48,360 270 218,500 267,130
_______ _______ _______ _______
At 31 March 2023 58,090 330 205,380 263,800
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 329,836 325,716
Other debtors 32,331 2,110
_______ _______
362,167 327,826
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 186,061 183,778
Social security and other taxes 37,142 12,974
Other creditors 15,204 9,850
_______ _______
238,407 206,602
_______ _______
8. Related party transactions
During the year a dividend of £1,000 was paid to the director.
9. Controlling party
There is no overall controlling party of the company, as each shareholder holds 50% of the shares issued.