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REGISTERED NUMBER: 02192591 (England and Wales)
























Jeffery West and Co Limited

Financial Statements for the Year Ended 31st May 2024






Jeffery West and Co Limited (Registered number: 02192591)

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










Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


Jeffery West and Co Limited

Company Information
for the Year Ended 31st May 2024







Directors: M Jeffery
G West





Registered office: City House
Cliftonville Road
Northampton
NN1 5HQ





Registered number: 02192591 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

Jeffery West and Co Limited (Registered number: 02192591)

Abridged Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 3 452,217 478,048
Investments 4 3,098 2,351
455,315 480,399

Current assets
Stocks 1,177,132 1,019,896
Debtors 665,317 295,540
Cash at bank 4,351,209 5,237,713
6,193,658 6,553,149
Creditors
Amounts falling due within one year 543,430 425,120
Net current assets 5,650,228 6,128,029
Total assets less current liabilities 6,105,543 6,608,428

Creditors
Amounts falling due after more than one
year

(33,640

)

(57,062

)

Provisions for liabilities (3,240 ) (4,556 )
Net assets 6,068,663 6,546,810

Capital and reserves
Called up share capital 100 100
Retained earnings 6,068,563 6,546,710
6,068,663 6,546,810

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

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

Jeffery West and Co Limited (Registered number: 02192591)

Abridged Balance Sheet - continued
31st May 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 Balance sheet for the year ended 31st May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th September 2024 and were signed on its behalf by:





M Jeffery - Director


Jeffery West and Co Limited (Registered number: 02192591)

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


1. 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.

Revenue recognition
The company recognises revenue at the point of sale after allowing for any returns.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 20% on reducing balance
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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 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.

Jeffery West and Co Limited (Registered number: 02192591)

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


1. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits of ownership remain with the lessor are charged against profits as incurred.

2. Employees and directors

The average number of employees during the year was 12 (2023 - 13 ) .

3. Tangible fixed assets
Totals
£   
Cost
At 1st June 2023
and 31st May 2024 624,691
Depreciation
At 1st June 2023 146,643
Charge for year 25,831
At 31st May 2024 172,474
Net book value
At 31st May 2024 452,217
At 31st May 2023 478,048

4. Fixed asset investments

Information on investments other than loans is as follows:
Totals
£   
Cost or valuation
At 1st June 2023 2,351
Revaluations 747
At 31st May 2024 3,098
Net book value
At 31st May 2024 3,098
At 31st May 2023 2,351


Jeffery West and Co Limited (Registered number: 02192591)

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


5. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 23,423 14,720
Between one and five years 33,640 57,062
57,063 71,782

Non-cancellable operating leases
2024 2023
£    £   
Within one year 55,000 55,000
Between one and five years 190,014 220,000
In more than five years - 25,014
245,014 300,014