10 01/01/2023 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 5994002 2023-01-01 2023-12-31 5994002 2023-12-31 5994002 2022-12-31 5994002 2022-01-01 2022-12-31 5994002 2022-12-31 5994002 2021-12-31 5994002 core:NetGoodwill 2023-01-01 2023-12-31 5994002 core:PlantMachinery 2023-01-01 2023-12-31 5994002 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 5994002 core:MotorVehicles 2023-01-01 2023-12-31 5994002 bus:Director2 2023-01-01 2023-12-31 5994002 core:NetGoodwill 2022-12-31 5994002 core:NetGoodwill 2023-12-31 5994002 core:PlantMachinery 2022-12-31 5994002 core:FurnitureFittingsToolsEquipment 2022-12-31 5994002 core:MotorVehicles 2022-12-31 5994002 core:PlantMachinery 2023-12-31 5994002 core:FurnitureFittingsToolsEquipment 2023-12-31 5994002 core:MotorVehicles 2023-12-31 5994002 core:WithinOneYear 2023-12-31 5994002 core:WithinOneYear 2022-12-31 5994002 core:ShareCapital 2023-12-31 5994002 core:ShareCapital 2022-12-31 5994002 core:RetainedEarningsAccumulatedLosses 2023-12-31 5994002 core:RetainedEarningsAccumulatedLosses 2022-12-31 5994002 core:NetGoodwill 2022-12-31 5994002 core:PlantMachinery 2022-12-31 5994002 core:FurnitureFittingsToolsEquipment 2022-12-31 5994002 core:MotorVehicles 2022-12-31 5994002 bus:SmallEntities 2023-01-01 2023-12-31 5994002 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 5994002 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 5994002 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 5994002 bus:FullAccounts 2023-01-01 2023-12-31
Company registration number: 5994002
L W Jenkins Limited
Unaudited filleted financial statements
31 December 2023
L W Jenkins Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 45,000 60,000
Tangible assets 6 130,974 174,632
_______ _______
175,974 234,632
Current assets
Stocks 5,228 13,125
Debtors 7 166,520 360,928
Cash at bank and in hand 594,716 1,039,552
_______ _______
766,464 1,413,605
Creditors: amounts falling due
within one year 8 ( 78,914) ( 343,304)
_______ _______
Net current assets 687,550 1,070,301
_______ _______
Total assets less current liabilities 863,524 1,304,933
Provisions for liabilities ( 28,664) ( 24,963)
_______ _______
Net assets 834,860 1,279,970
_______ _______
Capital and reserves
Called up share capital 4 4
Profit and loss account 834,856 1,279,966
_______ _______
Shareholders funds 834,860 1,279,970
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 September 2024 , and are signed on behalf of the board by:
D Heinrich
Director
Company registration number: 5994002
L W Jenkins Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Small Street, Feeder Road, St Phillips, Bristol, BS2 0SQ.
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.
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 - 25 % reducing balance
Office equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 11 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2023 and 31 December 2023 300,000 300,000
_______ _______
Amortisation
At 1 January 2023 240,000 240,000
Charge for the year 15,000 15,000
_______ _______
At 31 December 2023 255,000 255,000
_______ _______
Carrying amount
At 31 December 2023 45,000 45,000
_______ _______
At 31 December 2022 60,000 60,000
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 and 31 December 2023 816,541 15,895 58,391 890,827
_______ _______ _______ _______
Depreciation
At 1 January 2023 668,526 11,346 36,323 716,195
Charge for the year 37,004 1,137 5,517 43,658
_______ _______ _______ _______
At 31 December 2023 705,530 12,483 41,840 759,853
_______ _______ _______ _______
Carrying amount
At 31 December 2023 111,011 3,412 16,551 130,974
_______ _______ _______ _______
At 31 December 2022 148,015 4,549 22,068 174,632
_______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 166,161 360,748
Other debtors 359 180
_______ _______
166,520 360,928
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 20,464 56,234
Social security and other taxes 50,523 128,752
Other creditors 7,927 158,318
_______ _______
78,914 343,304
_______ _______