Company registration number 00879159 (England and Wales)
JACK HODSON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
JACK HODSON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JACK HODSON LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
114,155
102,148
Current assets
Stocks
954,925
888,007
Debtors
4
392,017
425,107
Cash at bank and in hand
101,618
38,973
1,448,560
1,352,087
Creditors: amounts falling due within one year
5
(975,999)
(878,143)
Net current assets
472,561
473,944
Total assets less current liabilities
586,716
576,092
Creditors: amounts falling due after more than one year
6
(124,127)
(171,599)
Net assets
462,589
404,493
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss reserves
412,589
354,493
Total equity
462,589
404,493

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

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

JACK HODSON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 September 2024 and are signed on its behalf by:
Mr P W Edward-Hodson
Director
Company registration number 00879159 (England and Wales)
JACK HODSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Jack Hodson Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 9, Bechers Drive, Aintree Racecourse Business Park, Ormskirk Road, Liverpool, Merseyside, England, L9 5AY.

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. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

 

Turnover is recognised on the completion of a vehicle conversion once the risks and rewards of the transaction have transferred to the customer.

1.3
Tangible fixed assets

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

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

Improvements to property
straight line over the remaining term of the lease
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

1.5
Taxation

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

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.

JACK HODSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
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.

2
Employees

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

2024
2023
Number
Number
Total
34
32
JACK HODSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Improvements to property
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
32,108
162,431
72,531
31,089
298,159
Additions
1,383
19,843
2,038
7,000
30,264
At 31 May 2024
33,491
182,274
74,569
38,089
328,423
Depreciation and impairment
At 1 June 2023
3,102
124,415
54,893
13,601
196,011
Depreciation charged in the year
515
8,669
2,951
6,122
18,257
At 31 May 2024
3,617
133,084
57,844
19,723
214,268
Carrying amount
At 31 May 2024
29,874
49,190
16,725
18,366
114,155
At 31 May 2023
29,006
38,016
17,638
17,488
102,148
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
370,625
410,433
Other debtors
21,392
14,674
392,017
425,107
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
82,029
107,701
Trade creditors
532,707
419,166
Corporation tax
54,693
14,720
Other taxation and social security
195,025
248,076
Other creditors
111,545
88,480
975,999
878,143
JACK HODSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
113,095
154,167
Other creditors
11,032
17,432
124,127
171,599
7
Secured debts

The following secured debts are included within creditors:

 

Bank loans & finance leases - £212,556    (2023 - £285,261)

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
403,061
545,389
2024-05-312023-06-01false09 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr J R HodsonMr P W Edward-HodsonMrs D J HodsonMrs D J Hodsonfalsefalse008791592023-06-012024-05-31008791592024-05-31008791592023-05-3100879159core:LeaseholdImprovements2024-05-3100879159core:PlantMachinery2024-05-3100879159core:FurnitureFittings2024-05-3100879159core:MotorVehicles2024-05-3100879159core:LeaseholdImprovements2023-05-3100879159core:PlantMachinery2023-05-3100879159core:FurnitureFittings2023-05-3100879159core:MotorVehicles2023-05-3100879159core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3100879159core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3100879159core:Non-currentFinancialInstrumentscore:AfterOneYear2024-05-3100879159core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3100879159core:CurrentFinancialInstruments2024-05-3100879159core:CurrentFinancialInstruments2023-05-3100879159core:Non-currentFinancialInstruments2024-05-3100879159core:Non-currentFinancialInstruments2023-05-3100879159core:ShareCapital2024-05-3100879159core:ShareCapital2023-05-3100879159core:RetainedEarningsAccumulatedLosses2024-05-3100879159core:RetainedEarningsAccumulatedLosses2023-05-3100879159bus:Director22023-06-012024-05-3100879159core:LeaseholdImprovements2023-06-012024-05-3100879159core:PlantMachinery2023-06-012024-05-3100879159core:FurnitureFittings2023-06-012024-05-3100879159core:MotorVehicles2023-06-012024-05-31008791592022-06-012023-05-3100879159core:LeaseholdImprovements2023-05-3100879159core:PlantMachinery2023-05-3100879159core:FurnitureFittings2023-05-3100879159core:MotorVehicles2023-05-31008791592023-05-3100879159core:WithinOneYear2024-05-3100879159core:WithinOneYear2023-05-3100879159bus:PrivateLimitedCompanyLtd2023-06-012024-05-3100879159bus:SmallCompaniesRegimeForAccounts2023-06-012024-05-3100879159bus:FRS1022023-06-012024-05-3100879159bus:AuditExemptWithAccountantsReport2023-06-012024-05-3100879159bus:Director12023-06-012024-05-3100879159bus:Director32023-06-012024-05-3100879159bus:CompanySecretary12023-06-012024-05-3100879159bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP