13 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08049289 2023-04-01 2024-03-31 08049289 2024-03-31 08049289 2023-03-31 08049289 2022-04-01 2023-03-31 08049289 2023-03-31 08049289 2022-03-31 08049289 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 08049289 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08049289 bus:Director1 2023-04-01 2024-03-31 08049289 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 08049289 core:FurnitureFittingsToolsEquipment 2023-03-31 08049289 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 08049289 core:FurnitureFittingsToolsEquipment 2024-03-31 08049289 core:WithinOneYear 2024-03-31 08049289 core:WithinOneYear 2023-03-31 08049289 core:AfterOneYear 2024-03-31 08049289 core:AfterOneYear 2023-03-31 08049289 core:RevaluationReserve 2022-04-01 2023-03-31 08049289 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 08049289 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08049289 core:ShareCapital 2024-03-31 08049289 core:ShareCapital 2023-03-31 08049289 core:RetainedEarningsAccumulatedLosses 2024-03-31 08049289 core:RetainedEarningsAccumulatedLosses 2023-03-31 08049289 core:ShareCapital 2022-03-31 08049289 core:RevaluationReserve 2022-03-31 08049289 core:RetainedEarningsAccumulatedLosses 2022-03-31 08049289 core:PreviouslyStatedAmount core:ShareCapital 2024-03-31 08049289 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 08049289 core:FurnitureFittingsToolsEquipment 2023-03-31 08049289 bus:SmallEntities 2023-04-01 2024-03-31 08049289 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08049289 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08049289 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08049289 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 08049289
J & J Graham Limited
Unaudited filleted financial statements
For the year ended
31 March 2024
J & J Graham Limited
Contents
Statement of financial position
Notes to the financial statements
J & J Graham Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 3 30,926 30,722
Investment property - -
________ ________
30,926 30,722
Current assets
Stocks 23,794 29,101
Debtors 4 54,374 48,136
Cash at bank and in hand 15,323 16,203
________ ________
93,491 93,440
Creditors: amounts falling due
within one year 5 ( 72,946) ( 65,007)
________ ________
Net current assets 20,545 28,433
________ ________
Total assets less current liabilities 51,471 59,155
Creditors: amounts falling due
after more than one year 6 ( 27,846) ( 35,820)
Provisions for liabilities ( 4,280) -
________ ________
Net assets 19,345 23,335
________ ________
Capital and reserves
Called up share capital 100 100
Profit and loss account 19,245 23,235
________ ________
Shareholders funds 19,345 23,335
________ ________
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.
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 02 September 2024 , and are signed on behalf of the board by:
Mr A D Reading
Director
Company registration number: 08049289
J & J Graham Limited
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 1 April 2022 100 2,780 16,842 19,722
Profit for the year 34,990 34,990
Other comprehensive income for the year:
Reclassification from revaluation reserve to profit and loss account ( 2,780) 2,780 -
________ ________ ________ ________
Total comprehensive income for the year - ( 2,780) 37,770 34,990
Dividends paid ( 31,377) ( 31,377)
________ ________ ________ ________
Total investments by and distributions to owners - - ( 31,377) ( 31,377)
________ ________ ________ ________
At 31 March 2023 and 1 April 2023 100 - 23,235 23,335
Profit for the year 28,581 28,581
________ ________ ________ ________
Total comprehensive income for the year - - 28,581 28,581
Dividends paid ( 32,571) ( 32,571)
________ ________ ________ ________
Total investments by and distributions to owners - - ( 32,571) ( 32,571)
________ ________ ________ ________
At 31 March 2024 100 - 19,245 19,345
________ ________ ________ ________
J & J Graham Limited
Notes to the financial statements
Year ended 31 March 2024
1. Accounting policies
General information
The company is a private company limited by shares, registered in England and Wales, registration number 08049289 . The address of the registered office is A D Reading, 6-7 Market Square, Penrith, Cumbria, CA11 7BS.
Basis of preparation
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'.
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 with the same financial statements.
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. It includes the relevant proportion of contract values where work is partially performed in the period.
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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Long leasehold property - 4 % straight line
Fittings fixtures and equipment - 15 % 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.
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.
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
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.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 14 ).
3. Tangible assets
Long leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2023 15,109 74,058 89,167
Additions - 3,661 3,661
________ ________ ________
At 31 March 2024 15,109 77,719 92,828
________ ________ ________
Depreciation
At 1 April 2023 870 57,575 58,445
Charge for the year 435 3,022 3,457
________ ________ ________
At 31 March 2024 1,305 60,597 61,902
________ ________ ________
Carrying amount
At 31 March 2024 13,804 17,122 30,926
________ ________ ________
At 31 March 2023 14,239 16,483 30,722
________ ________ ________
4. Debtors
2024 2023
£ £
Other debtors 54,374 48,136
________ ________
5. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 8,260 15,021
Trade creditors 41,719 33,260
Corporation tax 7,708 8,172
Taxation and social security 2,056 -
Other creditors 13,203 8,554
________ ________
72,946 65,007
________ ________
6. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 27,846 32,387
Other creditors - 3,433
________ ________
27,846 35,820
________ ________
7. Directors advances, credits and guarantees
During the year the company made advances to Mr A Reading & Mrs J Ashby, directors, totalling £32, 995 (2023 - £32,571). No repayments were made by 31 March 2024 and so the balance outstanding at the year end, 31 March 2024, was £32,995 (2023 - £32,571). Where applicable interest has been charged at the HMRC approved rate of 2.25%. All loans are repayable on demand.