Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-3112023-06-01false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02766318 2023-06-01 2024-05-31 02766318 2022-06-01 2023-05-31 02766318 2024-05-31 02766318 2023-05-31 02766318 2022-06-01 02766318 c:CompanySecretary1 2023-06-01 2024-05-31 02766318 c:Director1 2023-06-01 2024-05-31 02766318 c:RegisteredOffice 2023-06-01 2024-05-31 02766318 d:CurrentFinancialInstruments 2024-05-31 02766318 d:CurrentFinancialInstruments 2023-05-31 02766318 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 02766318 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02766318 d:ShareCapital 2023-06-01 2024-05-31 02766318 d:ShareCapital 2024-05-31 02766318 d:ShareCapital 2022-06-01 2023-05-31 02766318 d:ShareCapital 2023-05-31 02766318 d:ShareCapital 2022-06-01 02766318 d:CapitalRedemptionReserve 2023-06-01 2024-05-31 02766318 d:CapitalRedemptionReserve 2024-05-31 02766318 d:CapitalRedemptionReserve 2022-06-01 2023-05-31 02766318 d:CapitalRedemptionReserve 2023-05-31 02766318 d:CapitalRedemptionReserve 2022-06-01 02766318 d:OtherMiscellaneousReserve 2024-05-31 02766318 d:OtherMiscellaneousReserve 2023-05-31 02766318 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 02766318 d:RetainedEarningsAccumulatedLosses 2024-05-31 02766318 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 02766318 d:RetainedEarningsAccumulatedLosses 2023-05-31 02766318 d:RetainedEarningsAccumulatedLosses 2022-06-01 02766318 c:OrdinaryShareClass1 2023-06-01 2024-05-31 02766318 c:OrdinaryShareClass1 2024-05-31 02766318 c:OrdinaryShareClass1 2023-05-31 02766318 c:FRS102 2023-06-01 2024-05-31 02766318 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 02766318 c:FullAccounts 2023-06-01 2024-05-31 02766318 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02766318 d:TaxLossesCarry-forwardsDeferredTax 2024-05-31 02766318 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 02766318 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02766318










James Day (Lubricants) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2024

 
James Day (Lubricants) Limited
 

Company Information


Director
A G W King 




Company secretary
J A Bird



Registered number
02766318



Registered office
2nd Floor
168 Shoreditch High Street

London

E1 6RA




Accountants
Kreston Reeves LLP
Chartered Accountants

9 Donnington Park

85 Birdham Road

Chichester

West Sussex

PO20 7AJ





 
James Day (Lubricants) Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of James Day (Lubricants) Limited for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of James Day (Lubricants) Limited for the year ended 31 May 2024 which comprise  the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of James Day (Lubricants) Limited in accordance with the terms of our engagement letter dated 18 October 2022Our work has been undertaken solely to prepare for your approval the financial statements of James Day (Lubricants) Limited and state those matters that we have agreed to state to the director of James Day (Lubricants) Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James Day (Lubricants) Limited and its director for our work or for this report. 

It is your duty to ensure that James Day (Lubricants) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of James Day (Lubricants) Limited. You consider that James Day (Lubricants) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of James Day (Lubricants) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
23 August 2024
Page 1

 
James Day (Lubricants) Limited
Registered number: 02766318

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
2,900
2,295

Debtors
 5 
3,903
11,742

Cash at bank and in hand
 6 
7,160
1,233

  
13,963
15,270

Creditors: amounts falling due within one year
 7 
(8,087)
(9,635)

Net current assets
  
 
 
5,876
 
 
5,635

Total assets less current liabilities
  
5,876
5,635

Provisions for liabilities
 8 
5,453
7,294

Net assets
  
11,329
12,929


Capital and reserves
  

Called up share capital 
 9 
30,000
30,000

Other reserves
  
10,000
10,000

Profit and loss account
  
(28,671)
(27,071)

  
11,329
12,929


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A G W King
Director
Date: 21 August 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
James Day (Lubricants) Limited
 

Statement of Changes in Equity
For the Year Ended 31 May 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 June 2023
30,000
10,000
(27,071)
12,929


Comprehensive income for the year

Loss for the year
-
-
(1,600)
(1,600)
Total comprehensive income for the year
-
-
(1,600)
(1,600)


At 31 May 2024
30,000
10,000
(28,671)
11,329


The notes on pages 4 to 7 form part of these financial statements.


Statement of Changes in Equity
For the Year Ended 31 May 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 June 2022
30,000
10,000
(25,583)
14,417


Comprehensive income for the year

Loss for the year
-
-
(1,488)
(1,488)
Total comprehensive income for the year
-
-
(1,488)
(1,488)


At 31 May 2023
30,000
10,000
(27,071)
12,929


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

1.


General information

The Company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is at 2nd Floor, 168 Shoreditch High Street, London, E1 6RA.
The Company's trading address is  Prospect House, 16 Culimore Road, West Wittering, West Sussex, PO20 8HG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at
rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Profit and loss account.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Stocks

2024
2023
£
£

Finished goods and goods for resale
2,900
2,295



5.


Debtors

2024
2023
£
£


Trade debtors
-
8,472

Amounts owed by participating interest
2,000
1,000

Prepayments and accrued income
1,903
2,270

3,903
11,742



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7,160
1,233



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,773
5,471

Other taxation and social security
1,584
2,564

Accruals and deferred income
1,730
1,600

8,087
9,635


Page 6

 
James Day (Lubricants) Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

8.


Deferred taxation




2024


£






At beginning of year
7,294


Charged to profit or loss
(1,841)



At end of year
5,453

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
5,453
7,294


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



30,000 (2023 - 30,000) Ordinary shares of £1 each
30,000
30,000



10.


Related party transactions

During the year the Company purchased goods from E.S.B. Environmental Limited amounting to £7,000 (2023 - £5,673). As at 31 May 2024 the Company owed £nil (2023 - £nil) to E.S.B. Environmental Limited.
E.S.B. Environmental Limited is 100% controlled by J A Bird, who is also a shareholder of James Day (Lubricants) Limited. 


Page 7