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REGISTERED NUMBER: SC081962 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

J & J Warehouse Limited

J & J Warehouse Limited (Registered number: SC081962)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


J & J Warehouse Limited (Registered number: SC081962)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 89,760 105,492

CURRENT ASSETS
Stocks 271,725 269,932
Debtors 5 41,419 54,548
Cash at bank and in hand 56,093 92,816
369,237 417,296
CREDITORS
Amounts falling due within one year 6 (325,465 ) (353,414 )
NET CURRENT ASSETS 43,772 63,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,532

169,374

CREDITORS
Amounts falling due after more than one
year

7

(25,044

)

(52,829

)

PROVISIONS FOR LIABILITIES (19,774 ) (21,995 )
NET ASSETS 88,714 94,550

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 88,614 94,450
SHAREHOLDERS' FUNDS 88,714 94,550

J & J Warehouse Limited (Registered number: SC081962)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2024 and were signed by:





John Meldrum Thompson - Director


J & J Warehouse Limited (Registered number: SC081962)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

J & J Warehouse Limited is a private company, limited by shares, domiciled in Scotland, registration number SC081962. The registered office is Macfarlane Cresccent, Falkirk FK1 1LQ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services in respect of retail of bathroom supplies, excluding value added tax. Sales are recognised at the point at which the company has delivered the goods to the customer, or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

J & J Warehouse Limited (Registered number: SC081962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Non-monetary assets and liabilities and transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 282,705
Additions 3,860
At 31 December 2023 286,565
DEPRECIATION
At 1 January 2023 177,213
Charge for year 19,592
At 31 December 2023 196,805
NET BOOK VALUE
At 31 December 2023 89,760
At 31 December 2022 105,492

J & J Warehouse Limited (Registered number: SC081962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 44,557
DEPRECIATION
At 1 January 2023 11,038
Charge for year 6,703
At 31 December 2023 17,741
NET BOOK VALUE
At 31 December 2023 26,816
At 31 December 2022 33,519

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 21,453 9,791
Other debtors 19,966 44,757
41,419 54,548

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 15,410 15,020
Hire purchase contracts 7,042 8,708
Trade creditors 114,123 67,134
Taxation and social security 62,092 59,435
Other creditors 126,798 203,117
325,465 353,414

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 9,911 24,822
Hire purchase contracts 4,927 11,969
Other creditors 10,206 16,038
25,044 52,829

J & J Warehouse Limited (Registered number: SC081962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 11,969 20,677

Balances due on hire purchases agreements are secured on the assets to which they relate.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
John Meldrum Thompson
Balance outstanding at start of year 44,757 37,712
Amounts advanced 83,554 78,697
Amounts repaid (108,345 ) (71,652 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,966 44,757