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REGISTERED NUMBER: 02525929 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

J & C O'Meara Limited

J & C O'Meara Limited (Registered number: 02525929)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J & C O'Meara Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: C O'Meara
Miss K O'Meara





REGISTERED OFFICE: 2a Swordfish Business Park
Swordfish Close
Higgins Lane
Burscough
Lancashire
L40 8JW





REGISTERED NUMBER: 02525929 (England and Wales)





ACCOUNTANTS: Kirkwood Wilson Limited
2a Swordfish Business Park
Swordfish Close
Higgins Lane
Burscough
Lancashire
L40 8JW

J & C O'Meara Limited (Registered number: 02525929)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 80,141 106,800
80,141 106,800

CURRENT ASSETS
Stocks 265,238 462,715
Debtors 6 260,948 407,376
Cash at bank and in hand 104,410 91,997
630,596 962,088
CREDITORS
Amounts falling due within one year 7 261,964 268,504
NET CURRENT ASSETS 368,632 693,584
TOTAL ASSETS LESS CURRENT LIABILITIES 448,773 800,384

CREDITORS
Amounts falling due after more than one year 8 (35,984 ) (336,740 )

PROVISIONS FOR LIABILITIES (15,227 ) (19,379 )
NET ASSETS 397,562 444,265

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 397,462 444,165
397,562 444,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





C O'Meara - Director


J & C O'Meara Limited (Registered number: 02525929)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

J & C O'Meara Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 7 ) .

J & C O'Meara Limited (Registered number: 02525929)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 8,000
AMORTISATION
At 1 February 2023
and 31 January 2024 8,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 212,975
Additions 33,127
Disposals (72,267 )
At 31 January 2024 173,835
DEPRECIATION
At 1 February 2023 106,175
Charge for year 24,310
Eliminated on disposal (36,791 )
At 31 January 2024 93,694
NET BOOK VALUE
At 31 January 2024 80,141
At 31 January 2023 106,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 90,646 402,242
Other debtors 170,302 5,134
260,948 407,376

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 14,638 51,230
Hire purchase contracts 5,400 5,400
Trade creditors 24,655 67,059
Taxation and social security 62,397 86,090
Other creditors 154,874 58,725
261,964 268,504

J & C O'Meara Limited (Registered number: 02525929)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 21,184 88,894
Hire purchase contracts 14,800 20,200
Other creditors - 227,646
35,984 336,740

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,031