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REGISTERED NUMBER: 01870994 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

JACKMARK ENGINEERING LIMITED

JACKMARK ENGINEERING LIMITED (REGISTERED NUMBER: 01870994)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JACKMARK ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Ms K Tudor-Jackson
M P K Jackson





REGISTERED OFFICE: Jackmark House
Scott Lidgett Road
Longport
Stoke on Trent
Staffordshire
ST6 4NH





REGISTERED NUMBER: 01870994 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

JACKMARK ENGINEERING LIMITED (REGISTERED NUMBER: 01870994)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 799
Tangible assets 6 174,481 184,220
174,481 185,019

CURRENT ASSETS
Stocks 45,000 45,000
Debtors 7 661,473 507,810
Prepayments and accrued income 19,343 70,806
Cash at bank and in hand 836,314 950,017
1,562,130 1,573,633
CREDITORS
Amounts falling due within one year 8 74,378 111,828
NET CURRENT ASSETS 1,487,752 1,461,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,662,233

1,646,824

PROVISIONS FOR LIABILITIES (34,817 ) (30,558 )

ACCRUALS AND DEFERRED INCOME (5,000 ) (7,276 )
NET ASSETS 1,622,416 1,608,990

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,622,316 1,608,890
SHAREHOLDERS' FUNDS 1,622,416 1,608,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

JACKMARK ENGINEERING LIMITED (REGISTERED NUMBER: 01870994)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


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 Board of Directors and authorised for issue on 15 September 2024 and were signed on its behalf by:




Ms K Tudor-Jackson - Director



M P K Jackson - Director


JACKMARK ENGINEERING LIMITED (REGISTERED NUMBER: 01870994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Jackmark Engineering Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01870994 and the registered office address is Jackmark House, Scott Lidgett Road, Longport, Stoke on Trent, Staffordshire, ST6 4NH.

The principal activity of the company is that of light engineers.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Functional currency
The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered and goods supplied, stated net of discounts and VAT.

Income is recognised when goods have been delivered to customers or services have been provided in full such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The personalised number plate is deemed to have a higher residual value therefore no amortisation has been provided for.

Tangible fixed assets
Depreciation is calculated so as to write off the cost of assets, less their residual value, over their estimated useful lives as follows:

Freehold property - 2% on cost of buildings
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

JACKMARK ENGINEERING LIMITED (REGISTERED NUMBER: 01870994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

JACKMARK ENGINEERING LIMITED (REGISTERED NUMBER: 01870994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

5. INTANGIBLE FIXED ASSETS
Personalised
number
plate
£   
COST
At 1 August 2023 799
Disposals (799 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 799

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 36,218 393,497 225,806 172,915 828,436
Additions - 9,453 - - 9,453
At 31 July 2024 36,218 402,950 225,806 172,915 837,889
DEPRECIATION
At 1 August 2023 14,500 288,411 195,271 146,034 644,216
Charge for year 725 7,182 4,564 6,721 19,192
At 31 July 2024 15,225 295,593 199,835 152,755 663,408
NET BOOK VALUE
At 31 July 2024 20,993 107,357 25,971 20,160 174,481
At 31 July 2023 21,718 105,086 30,535 26,881 184,220

JACKMARK ENGINEERING LIMITED (REGISTERED NUMBER: 01870994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 143,194 79,651
Other debtors 518,279 428,159
661,473 507,810

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 43,696 78,795
Taxation and social security 26,233 26,488
Other creditors 4,449 6,545
74,378 111,828

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £50,434 (2023 - £43,912).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the period end £122,327 (2023 - £119,708) had been advanced to Ms K Tudor-Jackson.