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No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 23.0 - FRS102_2023
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1
2023-01-01
2023-12-31
Company registration number:
SC413589
Jardine Funeral Directors Limited
Unaudited filleted financial statements
31 December 2023
Jardine Funeral Directors Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Jardine Funeral Directors Limited
Directors and other information
|
|
|
|
Directors |
Mr AHG Jardine |
|
|
Mr MAJ Jardine |
|
|
|
|
|
|
|
Company number |
SC413589 |
|
|
|
|
|
|
|
Registered office |
Three Crowns Court |
|
|
Dumfries |
|
|
DG1 1HU |
|
|
|
|
|
|
|
Business address |
Three Crowns Court |
|
|
Dumfries |
|
|
DG1 1HU |
|
|
|
|
|
|
|
Accountants |
Carson & Trotter |
|
|
Chartered Accountants |
|
|
123 Irish Street |
|
|
Dumfries |
|
|
DG1 2PE |
|
|
|
Jardine Funeral Directors Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Jardine Funeral Directors Limited
Year ended 31st December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jardine Funeral Directors Limited for the year ended 31st December 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Jardine Funeral Directors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Jardine Funeral Directors Limited and state those matters that we have agreed to state to the board of directors of Jardine Funeral Directors Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jardine Funeral Directors Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Jardine Funeral Directors Limited 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 Jardine Funeral Directors Limited. You consider that Jardine Funeral Directors Limited 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 Jardine Funeral Directors Limited. 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.
Carson & Trotter
Chartered Accountants
123 Irish Street
Dumfries
DG1 2PE
24th September 2024
Jardine Funeral Directors Limited
Statement of financial position
31st December 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
200,000 |
|
|
|
225,000 |
|
|
Tangible assets |
|
6 |
1,116,496 |
|
|
|
1,123,774 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,316,496 |
|
|
|
1,348,774 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
10,000 |
|
|
|
10,000 |
|
|
Debtors |
|
7 |
648,666 |
|
|
|
713,733 |
|
|
Cash at bank and in hand |
|
|
1,889,253 |
|
|
|
1,723,453 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
2,547,919 |
|
|
|
2,447,186 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
191,334) |
|
|
|
(
232,958) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
2,356,585 |
|
|
|
2,214,228 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
3,673,081 |
|
|
|
3,563,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
24,325) |
|
|
|
(
31,122) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
3,648,756 |
|
|
|
3,531,880 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
206,500 |
|
|
|
248,000 |
Capital redemption reserve |
|
|
|
|
695,500 |
|
|
|
654,000 |
Profit and loss account |
|
|
|
|
2,746,756 |
|
|
|
2,629,880 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
3,648,756 |
|
|
|
3,531,880 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
03 September 2024
, and are signed on behalf of the board by:
Mr MAJ Jardine
Director
Company registration number:
SC413589
Jardine Funeral Directors Limited
Statement of changes in equity
Year ended 31st December 2023
|
|
Called up share capital |
|
Capital redemption reserve |
|
Profit and loss account |
Total |
|
|
|
|
|
£ |
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1st January 2022 |
|
291,000 |
|
611,000 |
|
2,362,518 |
3,264,518 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
|
|
458,362 |
458,362 |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
|
458,362 |
458,362 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
|
|
(
148,000) |
(
148,000) |
|
|
|
Redemption of shares |
|
(
43,000) |
|
43,000 |
|
(
43,000) |
(
43,000) |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
Total investments by and distributions to owners |
|
(
43,000) |
|
43,000 |
|
(
191,000) |
(
191,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
At 31st December 2022 and 1st January 2023 |
|
248,000 |
|
654,000 |
|
2,629,880 |
3,531,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
|
|
306,376 |
306,376 |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
|
306,376 |
306,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
|
|
(
148,000) |
(
148,000) |
|
|
|
Redemption of shares |
|
(
41,500) |
|
41,500 |
|
(
41,500) |
(
41,500) |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
Total investments by and distributions to owners |
|
(
41,500) |
|
41,500 |
|
(
189,500) |
(
189,500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
At 31st December 2023 |
|
206,500 |
|
695,500 |
|
2,746,756 |
3,648,756 |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jardine Funeral Directors Limited
Notes to the financial statements
Year ended 31st December 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Jardine Funeral Directors Limited, Three Crowns Court, Dumfries, DG1 1HU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
5 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
Land & buildings are not depreciated due to the level of maintenance work performed.
|
|
|
Plant and machinery |
- |
10 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
10 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
15
(2022:
15
).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1st January 2023 and 31st December 2023 |
500,000 |
500,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1st January 2023 |
275,000 |
275,000 |
|
|
|
|
|
Charge for the year |
25,000 |
25,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31st December 2023 |
300,000 |
300,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31st December 2023 |
200,000 |
200,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31st December 2022 |
225,000 |
225,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1st January 2023 |
848,932 |
90,846 |
73,388 |
508,542 |
1,521,708 |
|
|
|
Additions |
27,167 |
9,776 |
1,196 |
25,365 |
63,504 |
|
|
|
Disposals |
- |
- |
- |
(
66,989) |
(
66,989) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31st December 2023 |
876,099 |
100,622 |
74,584 |
466,918 |
1,518,223 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1st January 2023 |
- |
43,198 |
32,278 |
322,458 |
397,934 |
|
|
|
Charge for the year |
- |
5,743 |
4,232 |
50,217 |
60,192 |
|
|
|
Disposals |
- |
- |
- |
(
56,399) |
(
56,399) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31st December 2023 |
- |
48,941 |
36,510 |
316,276 |
401,727 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31st December 2023 |
876,099 |
51,681 |
38,074 |
150,642 |
1,116,496 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31st December 2022 |
848,932 |
47,648 |
41,110 |
186,084 |
1,123,774 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
83,818 |
94,538 |
|
Other debtors |
|
564,848 |
619,195 |
|
|
|
_______ |
_______ |
|
|
|
648,666 |
713,733 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
45,221 |
80,566 |
|
Corporation tax |
|
110,153 |
125,386 |
|
Social security and other taxes |
|
12,153 |
9,426 |
|
Other creditors |
|
23,807 |
17,580 |
|
|
|
_______ |
_______ |
|
|
|
191,334 |
232,958 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary redeemable shares shares of £
1.00 each |
|
204,500 |
|
204,500 |
|
246,000 |
|
246,000 |
|
Ordinary 'A' shares shares of £
1.00 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
Ordinary 'B' shares shares of £
1.00 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
206,500 |
|
206,500 |
|
248,000 |
|
248,000 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
Share movements
|
|
|
No |
£ |
|
Ordinary redeemable shares : |
|
|
|
|
At 1st January 2023 |
|
246,000 |
246,000 |
|
Shares redeemed |
|
41,500 |
41,500 |
|
|
|
_______ |
_______ |
|
At 31st December 2023 |
|
204,500 |
204,500 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr AHG Jardine |
112,752 |
31,106 |
(
15,920) |
127,938 |
|
|
|
Mr MAJ Jardine |
76,677 |
130,725 |
(
213,489) |
(
6,087) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
189,429 |
161,831 |
(
229,409) |
121,851 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr AHG Jardine |
42,914 |
114,008 |
(
44,170) |
112,752 |
|
|
|
Mr MAJ Jardine |
147,730 |
99,321 |
(
170,374) |
76,677 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
190,644 |
213,329 |
(
214,544) |
189,429 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Related party transactions
Mr M.A.J. Jardine a director in the company, is also a director and shareholder in Roucan Loch Crematorium Limited. During the year the company purchased cremation services to the value of £401,371 (31 December 2022 - £351,467).
During the year the company provided Roucan Loch Crematorium Limited with serives in the sum of £30,000 (2022 - £24,200).
In previous years the company made a loan in the sum of £407,180 to a company in which Mark Jardine is a director. The full amount of this loan is outstanding at the year end. No interest was payable on the loan and there are no repayment conditions in place.
During the year the company paid dividends of £148,000 to directors.
12.
Controlling party
The company is under the control of the directors.