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COMPANY REGISTRATION NUMBER: 01358039
Edward Jackson Engineer Limited
Unaudited financial statements
31 March 2024
Edward Jackson Engineer Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
179,664
195,932
Current assets
Stocks
221,711
296,682
Debtors
6
188,136
29,990
Cash at bank and in hand
543,255
59,458
---------
---------
953,102
386,130
Creditors: Amounts falling due within one year
7
( 662,074)
( 102,000)
---------
---------
Net current assets
291,028
284,130
---------
---------
Total assets less current liabilities
470,692
480,062
Provisions
Taxation including deferred tax
( 4,808)
( 8,148)
---------
---------
Net assets
465,884
471,914
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
465,784
471,814
---------
---------
Shareholders funds
465,884
471,914
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 .
Edward Jackson Engineer Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 2 October 2024 , and are signed on behalf of the board by:
T Jackson
Director
Company registration number: 01358039
Edward Jackson Engineer Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 12-13 Turing Park, Potash Lane, Norwich, Norfolk, NR14 8QR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year which can be reliably measured. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Property improvements
-
5% straight line
Plant and machinery
-
15% reducing balance
Computer equipment
-
25% straight line
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 stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
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.
4. Employee numbers
The average number of employees during the year was 5 (2023: 5 ).
5. Tangible assets
Property improve- ments
Plant and machinery
Computer equipment
Total
£
£
£
£
Cost
At 1 April 2023
166,532
92,307
18,251
277,090
Disposals
( 589)
( 589)
---------
-------
-------
---------
At 31 March 2024
166,532
92,307
17,662
276,501
---------
-------
-------
---------
Depreciation
At 1 April 2023
8,041
60,180
12,937
81,158
Charge for the year
8,327
4,816
3,125
16,268
Disposals
( 589)
( 589)
---------
-------
-------
---------
At 31 March 2024
16,368
64,996
15,473
96,837
---------
-------
-------
---------
Carrying amount
At 31 March 2024
150,164
27,311
2,189
179,664
---------
-------
-------
---------
At 31 March 2023
158,491
32,127
5,314
195,932
---------
-------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
18,454
9,650
Amounts owed by group undertakings and undertakings in which the company has a participating interest
100,000
Other debtors
69,682
20,340
---------
-------
188,136
29,990
---------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
25,198
25,649
Amounts owed to group undertakings and undertakings in which the company has a participating interest
39,000
Social security and other taxes
2,968
23,854
Other creditors
633,908
13,497
---------
---------
662,074
102,000
---------
---------