Company registration number 09875067 (England and Wales)
SJB SERVICES(ROSSENDALE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SJB SERVICES(ROSSENDALE) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SJB SERVICES(ROSSENDALE) LTD
BALANCE SHEET
AS AT
28 NOVEMBER 2023
28 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,134
23,303
Current assets
Debtors
4
6,623
9,725
Cash at bank and in hand
15,674
12,087
22,297
21,812
Creditors: amounts falling due within one year
5
(8,418)
(18,499)
Net current assets
13,879
3,313
Total assets less current liabilities
66,013
26,616
Creditors: amounts falling due after more than one year
6
(41,545)
(7,750)
Net assets
24,468
18,866
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
24,467
18,865
Total equity
24,468
18,866

For the financial year ended 28 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has 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 his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 28 August 2024
Mr S Burns
Director
Company registration number 09875067 (England and Wales)
SJB SERVICES(ROSSENDALE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

SJB Services(Rossendale) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Long Buildings Farm, Dean, Bacup, Lancashire, OL13 8RG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has adopted the going concern basis in preparing the financial statements. true

1.3
Turnover

Turnover represents amounts receivable for services provided net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
15% straight line
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
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.

SJB SERVICES(ROSSENDALE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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, 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 a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

SJB SERVICES(ROSSENDALE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Total
1
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 29 November 2022
24,051
744
24,795
Additions
-
0
36,678
36,678
At 28 November 2023
24,051
37,422
61,473
Depreciation and impairment
At 29 November 2022
987
505
1,492
Depreciation charged in the year
3,608
4,239
7,847
At 28 November 2023
4,595
4,744
9,339
Carrying amount
At 28 November 2023
19,456
32,678
52,134
At 28 November 2022
23,064
239
23,303

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2023
2022
£
£
Motor vehicles
32,475
-
0
32,475
-
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,089
9,725
Corporation tax recoverable
1,958
-
0
Other debtors
576
-
0
6,623
9,725
SJB SERVICES(ROSSENDALE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,000
3,000
Obligations under finance leases
4,224
-
0
Corporation tax
-
0
8,561
Other taxation and social security
-
0
5,053
Other creditors
269
415
Accruals and deferred income
925
1,470
8,418
18,499

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,750
7,750
Obligations under finance leases
36,795
-
0
41,545
7,750
7
Called up share capital
2023
2022
£
£
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
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