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Registration number: 04619105

D H James Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 December 2023

 

D H James Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

D H James Limited

Company Information

Directors

N James

C J Goodwin

Registered office

3 Sadler Street
Wells
Somerset
BA5 2RR

Accountants

Burton Sweet Limited
Chartered Accountants & Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

D H James Limited

(Registration number: 04619105)
Balance Sheet
30 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

4,160

6,913

Current assets

 

Stocks

6

117,926

118,710

Debtors

7

49,985

40,249

Cash at bank and in hand

 

20,280

7,237

 

188,191

166,196

Creditors: Amounts falling due within one year

8

(68,078)

(66,610)

Net current assets

 

120,113

99,586

Total assets less current liabilities

 

124,273

106,499

Creditors: Amounts falling due after more than one year

8

(18,333)

(28,333)

Net assets

 

105,940

78,166

Capital and reserves

 

Called up share capital

200

200

Retained earnings

105,740

77,966

Shareholders' funds

 

105,940

78,166

 

D H James Limited

(Registration number: 04619105)
Balance Sheet
30 December 2023

For the financial year ending 30 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 September 2024 and signed on its behalf by:
 

.........................................
N James
Director

.........................................
C J Goodwin
Director

 

D H James Limited

Notes to the Unaudited Financial Statements
Year Ended 30 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Sadler Street
Wells
Somerset
BA5 2RR

These financial statements were authorised for issue by the Board on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods a in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

D H James Limited

Notes to the Unaudited Financial Statements
Year Ended 30 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

10% per annum straight line

Fixtures & fittings

10% per annum straight line

Office equipment

20% per annum straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation .

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

D H James Limited

Notes to the Unaudited Financial Statements
Year Ended 30 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business. Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

D H James Limited

Notes to the Unaudited Financial Statements
Year Ended 30 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 31 December 2022

26,000

26,000

Disposals

(26,000)

(26,000)

At 30 December 2023

-

-

Amortisation

At 31 December 2022

26,000

26,000

Amortisation eliminated on disposals

(26,000)

(26,000)

At 30 December 2023

-

-

Carrying amount

At 30 December 2023

-

-

 

D H James Limited

Notes to the Unaudited Financial Statements
Year Ended 30 December 2023

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 31 December 2022

13,225

40,851

15,531

69,607

At 30 December 2023

13,225

40,851

15,531

69,607

Depreciation

At 31 December 2022

11,013

38,314

13,367

62,694

Charge for the year

731

919

1,103

2,753

At 30 December 2023

11,744

39,233

14,470

65,447

Carrying amount

At 30 December 2023

1,481

1,618

1,061

4,160

At 30 December 2022

2,212

2,537

2,164

6,913

6

Stocks

2023
£

2022
£

Other inventories

117,926

118,710

7

Debtors

2023
£

2022
£

Trade debtors

32,881

18,747

Other debtors

13,843

20,376

Prepayments

3,261

1,126

49,985

40,249

 

D H James Limited

Notes to the Unaudited Financial Statements
Year Ended 30 December 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

10,000

10,000

Trade creditors

 

37,281

41,368

Taxation and social security

 

16,791

10,613

Accruals and deferred income

 

1,497

1,950

Other creditors

 

2,509

2,679

 

68,078

66,610

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

18,333

28,333

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

18,333

28,333

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000