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Registration number: 06193566

Jeffrey and White Management Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Jeffrey and White Management Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Jeffrey and White Management Ltd

(Registration number: 06193566)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,088

2,056

Current assets

 

Debtors

5

1,844

1,401

Cash at bank and in hand

 

112,283

89,788

 

114,127

91,189

Creditors: Amounts falling due within one year

6

(80,739)

(61,266)

Net current assets

 

33,388

29,923

Total assets less current liabilities

 

36,476

31,979

Creditors: Amounts falling due after more than one year

6

(13,815)

(17,330)

Provisions for liabilities

(587)

(391)

Net assets

 

22,074

14,258

Capital and reserves

 

Called up share capital

80

80

Retained earnings

21,994

14,178

Shareholders' funds

 

22,074

14,258

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2024 and signed on its behalf by:
 

 

Jeffrey and White Management Ltd

(Registration number: 06193566)
Balance Sheet as at 31 August 2024

.........................................
Mrs Gemma Towersey
Director

.........................................
Mrs Eleanor Goodhew
Director

 

Jeffrey and White Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
7 Paynes Park
Hitchin
Hertfordshire
SG5 1EH

These financial statements were authorised for issue by the Board on 10 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Jeffrey and White Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Jeffrey and White Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Jeffrey and White Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

4,935

4,935

Additions

1,613

1,613

At 31 August 2024

6,548

6,548

Depreciation

At 1 September 2023

2,879

2,879

Charge for the year

581

581

At 31 August 2024

3,460

3,460

Carrying amount

At 31 August 2024

3,088

3,088

At 31 August 2023

2,056

2,056

5

Debtors

Current

2024
£

2023
£

Prepayments

844

401

Other debtors

1,000

1,000

 

1,844

1,401

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

3,516

2,699

Taxation and social security

 

29,710

22,920

Accruals and deferred income

 

1,365

1,300

Other creditors

 

46,148

34,347

 

80,739

61,266

Creditors: amounts falling due after more than one year

 

Jeffrey and White Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors (continued)

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

13,815

17,330

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,815

17,330

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,516

2,699

Within loans and borrowings there is a £25,000 bounce back loan from the government provided through Natwest. As per government regulations there is no security required on this loan by either Jeffrey and White Management Limited or the director.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

40

40

40

40

Ordinary B of £1 each

40

40

40

40

 

80

80

80

80

Rights, preferences and restrictions

Ordinary A Share have the following rights, preferences and restrictions:
The ordinary A shares have full voting rights, entitlement to dividends and capital distribution.

Ordinary B share have the following rights, preferences and restrictions:
The ordinary B shares have full voting rights, entitlement to dividends and capital distributions.

 

Jeffrey and White Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

At the balance sheet date, the company owed £21,238 to Mrs E Goodhew, (2023: £15,688). The loan is provided interest free and repayable on demand.

At the balance sheet date, the company owed £19,838 to Mrs G Towersey, (2023: £14,188). The loan is provided interest free and repayable on demand.
 

 

Jeffrey and White Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Parent and ultimate parent undertaking

The ultimate controlling party is Mrs G Towersey and Mrs E Goodhew by virtue of their shareholding.