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REGISTERED NUMBER: 06865286 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

JJ METCALFE & SON LTD

JJ METCALFE & SON LTD (REGISTERED NUMBER: 06865286)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

JJ METCALFE & SON LTD

Company Information
for the Year Ended 29 February 2024







Director: M J Metcalfe





Registered office: 43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH





Registered number: 06865286 (England and Wales)





Accountants: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

JJ METCALFE & SON LTD (REGISTERED NUMBER: 06865286)

Abridged Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
Fixed assets
Intangible assets 4 167 254
Tangible assets 5 249,886 248,697
250,053 248,951

Current assets
Stocks 415,336 331,103
Debtors 640,483 622,892
Cash at bank 355,080 232,786
1,410,899 1,186,781
Creditors
Amounts falling due within one year 253,368 264,478
Net current assets 1,157,531 922,303
Total assets less current liabilities 1,407,584 1,171,254

Provisions for liabilities 61,940 63,766
Net assets 1,345,644 1,107,488

Capital and reserves
Called up share capital 100 100
Retained earnings 1,345,544 1,107,388
Shareholders' funds 1,345,644 1,107,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

JJ METCALFE & SON LTD (REGISTERED NUMBER: 06865286)

Abridged Balance Sheet - continued
29 February 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 September 2024 and were signed by:





M J Metcalfe - Director


JJ METCALFE & SON LTD (REGISTERED NUMBER: 06865286)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

JJ Metcalfe & Son Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared under the going concern basis of accounting.

Turnover
Turnover represents the value of work carried out and goods sold during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Patents and licenses
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a lease agreement, over the lease term, whichever is the shorter.

Patents and licences- 10% on cost


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


JJ METCALFE & SON LTD (REGISTERED NUMBER: 06865286)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 870
AMORTISATION
At 1 March 2023 616
Amortisation for year 87
At 29 February 2024 703
NET BOOK VALUE

At 29 February 2024 167
At 28 February 2023 254

JJ METCALFE & SON LTD (REGISTERED NUMBER: 06865286)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 685,689
Additions 62,443
Disposals (61,916 )
At 29 February 2024 686,216
DEPRECIATION
At 1 March 2023 436,992
Charge for year 58,402
Eliminated on disposal (59,064 )
At 29 February 2024 436,330
NET BOOK VALUE
At 29 February 2024 249,886
At 28 February 2023 248,697

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29/2/24 28/2/23
£    £   
M J Metcalfe
Balance outstanding at start of year 310,326 9,393
Amounts advanced 122,727 310,326
Amounts repaid (161,800 ) (9,393 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 271,253 310,326

The above loan has been charged at 2% interest up to April 2023, and at 2.25% thereafter, per annum. The loan is repayable on demand.

Accountants' Report to the Director
on the Unaudited Financial Statements of
JJ Metcalfe & Son Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JJ Metcalfe & Son Ltd for the year ended 29 February 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of JJ Metcalfe & Son Ltd in accordance with the terms of our engagement letter dated 4 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of JJ Metcalfe & Son Ltd and state those matters that we have agreed to state to the director of JJ Metcalfe & Son Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that JJ Metcalfe & Son Ltd 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 profit of JJ Metcalfe & Son Ltd. You consider that JJ Metcalfe & Son Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JJ Metcalfe & Son Ltd. 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.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


6 September 2024