Company Registration No. 01549261 (England and Wales)
J.N.C. Enterprises Limited
Unaudited accounts
for the year ended 31 March 2024
J.N.C. Enterprises Limited
Unaudited accounts
Contents
J.N.C. Enterprises Limited
Company Information
for the year ended 31 March 2024
Company Number
01549261 (England and Wales)
Registered Office
D5-D6 GREENSPLOTT ROAD
CHITTENING TRAD ESTATE
AVONMOUTH BRISTOL
BS11 0YB
Accountants
Evans Entwistle
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
J.N.C. Enterprises Limited
for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J.N.C. Enterprises Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
7 October 2024
J.N.C. Enterprises Limited
Statement of financial position
as at 31 March 2024
Tangible assets
23,333
41,886
Inventories
1,458,236
1,606,936
Cash at bank and in hand
184,640
210,175
Creditors: amounts falling due within one year
(536,537)
(698,133)
Net current assets
1,502,129
1,499,599
Total assets less current liabilities
1,525,462
1,541,485
Creditors: amounts falling due after more than one year
(118,866)
(133,934)
Provisions for liabilities
Net assets
1,401,288
1,407,551
Called up share capital
1,275
1,275
Share premium
116,350
116,350
Capital redemption reserve
375
375
Profit and loss account
1,283,288
1,289,551
Shareholders' funds
1,401,288
1,407,551
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 October 2024 and were signed on its behalf by
Thomas Clarke
Director
Company Registration No. 01549261
J.N.C. Enterprises Limited
Notes to the Accounts
for the year ended 31 March 2024
J.N.C. Enterprises Limited is a private company, limited by shares, registered in England and Wales, registration number 01549261. The registered office is D5-D6 GREENSPLOTT ROAD, CHITTENING TRAD ESTATE, AVONMOUTH BRISTOL, BS11 0YB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
4 years straight line
Fixtures & fittings
5 years straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.
Work in progress is reflected in the amounts on a contract basis by recording revenue and related costs as contract activity progresses.
J.N.C. Enterprises Limited
Notes to the Accounts
for the year ended 31 March 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
52,475
17,113
69,588
Disposals
(20,475)
-
(20,475)
At 31 March 2024
32,000
17,113
49,113
At 1 April 2023
12,862
14,840
27,702
Charge for the year
8,920
2,273
11,193
On disposals
(13,115)
-
(13,115)
At 31 March 2024
8,667
17,113
25,780
At 31 March 2024
23,333
-
23,333
At 31 March 2023
39,613
2,273
41,886
Amounts falling due within one year
Trade debtors
391,221
374,788
Accrued income and prepayments
4,569
5,833
J.N.C. Enterprises Limited
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
186,658
53,332
Obligations under finance leases and hire purchase contracts
9,589
9,600
Trade creditors
128,281
322,536
Amounts owed to group undertakings and other participating interests
65,000
190,000
Taxes and social security
30,676
37,634
Other creditors
27,529
56,048
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
10,532
25,600
Loans from directors
50,000
-
8
Deferred taxation
2024
2023
Accelerated capital allowances
5,308
-
Charged to the profit and loss account
5,308
-
Provision at end of year
5,308
-
Allotted, called up and fully paid:
- Ordinary shares of £1 each
-
1,275
1,084 A Ordinary shares of £1 each
1,084
-
127 B Ordinary shares of £1 each
127
-
64 C Ordinary shares of £1 each
64
-
Shares issued during the period:
1,084 A Ordinary shares of £1 each
1,084
127 B Ordinary shares of £1 each
127
64 C Ordinary shares of £1 each
64
J.N.C. Enterprises Limited
Notes to the Accounts
for the year ended 31 March 2024
10
Transactions with related parties
On 31 March 2024 the company was owed £65,000 (2023: £190,00) to Asteria Leisure Limited, a company under common control.
11
Average number of employees
During the year the average number of employees was 16 (2023: 14).