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REGISTERED NUMBER: 05051641 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

JO DOWNS GLASS DESIGN LIMITED

JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JO DOWNS GLASS DESIGN LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Ms J Downs
Mr S H Downs





SECRETARY: Mr E R Downs





REGISTERED OFFICE: 1a Parliament Square
Parliament Street
Crediton
Devon
EX17 2AW





REGISTERED NUMBER: 05051641 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 97,180 111,258
97,180 111,258

CURRENT ASSETS
Stocks 424,739 431,474
Debtors 7 168,469 307,289
Cash at bank and in hand 279,258 481,435
872,466 1,220,198
CREDITORS
Amounts falling due within one year 8 (217,510 ) (195,051 )
NET CURRENT ASSETS 654,956 1,025,147
TOTAL ASSETS LESS CURRENT
LIABILITIES

752,136

1,136,405

CREDITORS
Amounts falling due after more than one
year

9

(23,692

)

(35,653

)

PROVISIONS FOR LIABILITIES - (19,644 )
NET ASSETS 728,444 1,081,108

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 728,344 1,081,008
SHAREHOLDERS' FUNDS 728,444 1,081,108

JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

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 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.

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 13 September 2024 and were signed on its behalf by:





Ms J Downs - Director


JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Jo Downs Glass Design Limited 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 (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Turnover
Turnover represents amounts chargeable in respect of the sale of goods falling within the company's ordinary activities.

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.

Tangible fixed assets
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.
Short leasehold - 25% reducing balance / 10% straight line
Improvements to property - 25% straight line
Plant and machinery - 10% on cost
Fixtures, fittings and equipment - 25% on cost
Motor vehicles - 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued
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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 37 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill Branding Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 60,000 41,195 101,195
AMORTISATION
At 1 January 2023
and 31 December 2023 60,000 41,195 101,195
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 January 2023 43,013 26,745 316,308
Additions - 4,328 1,024
At 31 December 2023 43,013 31,073 317,332
DEPRECIATION
At 1 January 2023 43,013 969 259,307
Charge for year - 2,155 12,666
At 31 December 2023 43,013 3,124 271,973
NET BOOK VALUE
At 31 December 2023 - 27,949 45,359
At 31 December 2022 - 25,776 57,001

Fixtures,
fittings
and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 83,845 60,976 530,887
Additions 4,536 - 9,888
At 31 December 2023 88,381 60,976 540,775
DEPRECIATION
At 1 January 2023 77,752 38,588 419,629
Charge for year 3,548 5,597 23,966
At 31 December 2023 81,300 44,185 443,595
NET BOOK VALUE
At 31 December 2023 7,081 16,791 97,180
At 31 December 2022 6,093 22,388 111,258

JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 27,081
DEPRECIATION
At 1 January 2023 9,230
Charge for year 4,463
At 31 December 2023 13,693
NET BOOK VALUE
At 31 December 2023 13,388
At 31 December 2022 17,851

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors and accrued income 26,788 8,443
Other debtors 3,123 771
Directors' current accounts 29,986 182,607
Tax 24,072 35,438
Prepayments 84,500 80,030
168,469 307,289

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,903 9,931
Hire purchase contracts (see note 10) 1,750 1,750
Trade creditors 34,627 39,978
Social security and other taxes 21,377 17,076
Company pension contributions 4,099 3,481
VAT 58,857 59,240
Other creditors 73,920 44,583
Accrued expenses 11,977 19,012
217,510 195,051

JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,440 10,182
Bank loans - 2-5 years 3,544 14,013
Hire purchase contracts (see note 10) 9,708 11,458
23,692 35,653

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 1,750 1,750
Between one and five years 9,708 11,458
11,458 13,208

Non-cancellable operating leases
2023 2022
£    £   
Within one year 178,985 182,099
Between one and five years 394,775 392,960
In more than five years 426,000 364,000
999,760 939,059

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 11,458 13,208

Hire purchase liabilities are secured over the asset to which the liability relates.

JO DOWNS GLASS DESIGN LIMITED (REGISTERED NUMBER: 05051641)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Ms J Downs
Balance outstanding at start of year 182,607 14,798
Amounts advanced - 266,843
Amounts repaid (152,622 ) (99,034 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,985 182,607

Interest has been charged at the H M Revenue and Customs official rate.