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REGISTERED NUMBER: SC633084 (Scotland)












Financial Statements for the Year Ended 31 May 2024

for

J1W LTD

J1W LTD (REGISTERED NUMBER: SC633084)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J1W LTD

Company Information
for the Year Ended 31 May 2024







DIRECTORS: JE Walker
G Walker
C Walker
A W Webster





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC633084 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

J1W LTD (REGISTERED NUMBER: SC633084)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,339,918 539,754

CURRENT ASSETS
Stocks 12,424 8,413
Debtors 5 530,002 158,591
Cash at bank 290,220 154,542
832,646 321,546
CREDITORS
Amounts falling due within one year 6 360,441 224,249
NET CURRENT ASSETS 472,205 97,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,812,123

637,051

CREDITORS
Amounts falling due after more than one
year

7

3,057

7,132
NET ASSETS 1,809,066 629,919

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 916,453 385,000
Retained earnings 891,613 243,919
SHAREHOLDERS' FUNDS 1,809,066 629,919

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

J1W LTD (REGISTERED NUMBER: SC633084)

Balance Sheet - continued
31 May 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





JE Walker - Director


J1W LTD (REGISTERED NUMBER: SC633084)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

J1W Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Stock/work in progress
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 Profit & Loss Account, 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 material 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.

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

J1W LTD (REGISTERED NUMBER: SC633084)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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 6 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 June 2023 537,607 32,222 551 570,380
Additions 329,692 21,995 - 351,687
Disposals (20,000 ) - - (20,000 )
Revaluations 531,453 - - 531,453
At 31 May 2024 1,378,752 54,217 551 1,433,520
DEPRECIATION
At 1 June 2023 26,730 3,529 367 30,626
Charge for year 56,874 8,056 46 64,976
Eliminated on disposal (2,000 ) - - (2,000 )
At 31 May 2024 81,604 11,585 413 93,602
NET BOOK VALUE
At 31 May 2024 1,297,148 42,632 138 1,339,918
At 31 May 2023 510,877 28,693 184 539,754

Cost or valuation at 31 May 2024 is represented by:

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Valuation in 2022 128,378 - 551 128,929
Valuation in 2023 409,229 32,222 - 441,451
Valuation in 2024 841,145 21,995 - 863,140
1,378,752 54,217 551 1,433,520

J1W LTD (REGISTERED NUMBER: SC633084)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 529,752 158,591
Other debtors 250 -
530,002 158,591

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,076 4,076
Trade creditors 116,887 108,180
Taxation and social security 180,366 54,763
Other creditors 59,112 57,230
360,441 224,249

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 3,057 7,132

8. RESERVES
Revaluation
reserve
£   
At 1 June 2023 385,000
Fixed Asset Revaluation 531,453

At 31 May 2024 916,453

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £160,000 (2023 - £38,000) were paid to the directors .

The company was under control of J Walker, G Walker and C Walker throughout the current and previous year. A Webster was appointed director in April 2024.

During the year J Walker further advanced the company net amounts totalling £312. As at 31 May 2024 included within other creditors is a balance outstanding due to the director of £55,712 (2023 - £55,400). No interest was paid on this loan.

During the year the company advanced G Walker net amounts totalling £1,000. As at 31 May 2024 included within other debtors is a balance outstanding due to the company of £250 (2023 - £750 due to the director.) No interest was paid on this loan.