Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30Fruit and vegetable wholesalerfalse2023-07-0166truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04003819 2023-07-01 2024-06-30 04003819 2022-07-01 2023-06-30 04003819 2024-06-30 04003819 2023-06-30 04003819 1 2023-07-01 2024-06-30 04003819 1 2022-07-01 2023-06-30 04003819 d:Director1 2023-07-01 2024-06-30 04003819 e:Buildings 2023-07-01 2024-06-30 04003819 e:Buildings 2024-06-30 04003819 e:Buildings 2023-06-30 04003819 e:Buildings e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04003819 e:PlantMachinery 2023-07-01 2024-06-30 04003819 e:PlantMachinery 2024-06-30 04003819 e:PlantMachinery 2023-06-30 04003819 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04003819 e:MotorVehicles 2023-07-01 2024-06-30 04003819 e:MotorVehicles 2024-06-30 04003819 e:MotorVehicles 2023-06-30 04003819 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04003819 e:FurnitureFittings 2023-07-01 2024-06-30 04003819 e:FurnitureFittings 2024-06-30 04003819 e:FurnitureFittings 2023-06-30 04003819 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04003819 e:OfficeEquipment 2023-07-01 2024-06-30 04003819 e:OfficeEquipment 2024-06-30 04003819 e:OfficeEquipment 2023-06-30 04003819 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04003819 e:ComputerEquipment 2023-07-01 2024-06-30 04003819 e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04003819 e:FreeholdInvestmentProperty 2024-06-30 04003819 e:FreeholdInvestmentProperty 2023-06-30 04003819 e:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 04003819 e:CurrentFinancialInstruments 2024-06-30 04003819 e:CurrentFinancialInstruments 2023-06-30 04003819 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 04003819 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 04003819 e:ShareCapital 2024-06-30 04003819 e:ShareCapital 2023-06-30 04003819 e:RetainedEarningsAccumulatedLosses 2024-06-30 04003819 e:RetainedEarningsAccumulatedLosses 2023-06-30 04003819 d:FRS102 2023-07-01 2024-06-30 04003819 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04003819 d:FullAccounts 2023-07-01 2024-06-30 04003819 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04003819 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 04003819










JACK WATERS & SON LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2024

 
JACK WATERS & SON LIMITED
REGISTERED NUMBER: 04003819

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
271,255
222,709

Investment property
 6 
711,000
629,000

  
982,255
851,709

Current assets
  

Stocks
  
15,000
15,000

Debtors: amounts falling due within one year
 7 
136,949
144,856

Cash at bank and in hand
  
298,102
211,146

  
450,051
371,002

Creditors: amounts falling due within one year
 8 
(252,730)
(214,966)

Net current assets
  
 
 
197,321
 
 
156,036

Total assets less current liabilities
  
1,179,576
1,007,745

Provisions for liabilities
  

Deferred tax
  
(56,070)
(33,737)

Net assets
  
1,123,506
974,008


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,123,406
973,908

  
1,123,506
974,008

Page 1

 
JACK WATERS & SON LIMITED
REGISTERED NUMBER: 04003819
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 October 2024.





Mr J B Waters
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
JACK WATERS & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Jack Waters & Son Limited is a private company limited by shares, incorporated in England and Wales (registered number: 04003819). Its registered office is Unit 2b, South Yorkshire Fresh Produce & Flower Centre, Parkway Drive, Sheffield, South Yorkshire, S9 4WN. The principal activity of the Company throughout the year continued to be that of a fruit and vegetable wholesaler.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
JACK WATERS & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation rates used are:

Freehold property
-
2% straight line
Plant & machinery
-
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
15% reducing balance
Computer equipment
-
25% straight line & 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
JACK WATERS & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Other operating income

2024
2023
£
£

Net rents receivable
20,700
19,500



4.


Employees

The average monthly number of employees, including directors, during the period was 6 (2023 - 6).

Page 5

 
JACK WATERS & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£
£



Cost


At 1 July 2023
169,062
-
110,733
131,262
20,978
432,035


Additions
-
44,868
66,990
-
-
111,858


Disposals
-
-
(34,241)
-
-
(34,241)



At 30 June 2024

169,062
44,868
143,482
131,262
20,978
509,652



Depreciation


At 1 July 2023
72,310
-
27,512
89,602
19,902
209,326


Charge for the period on owned assets
3,281
5,609
23,160
6,247
939
39,236


Disposals
-
-
(10,165)
-
-
(10,165)



At 30 June 2024

75,591
5,609
40,507
95,849
20,841
238,397



Net book value



At 30 June 2024
93,471
39,259
102,975
35,413
137
271,255



At 30 June 2023
96,752
-
83,221
41,660
1,076
222,709

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:




Page 6

 
JACK WATERS & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

6.


Investment property


Freehold and leasehold investment property

£



Valuation


At 1 July 2023
629,000


Surplus on revaluation
82,000



At 30 June 2024
711,000

The 2024 valuations were made by the director, on an open market value for existing use basis.






7.


Debtors

2024
2023
£
£


Trade debtors
132,432
137,332

Other debtors
500
500

Prepayments and accrued income
4,017
7,024

136,949
144,856



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
156,706
136,864

Corporation tax
41,696
33,310

Other taxation and social security
4,231
3,332

Other creditors
44,180
30,813

Accruals and deferred income
5,917
10,647

252,730
214,966


Page 7

 
JACK WATERS & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £11,033 (2023: £13,406). 

 
Page 8