J.D. Lister (Furnishers) Limited 01137977 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is retail of furniture. Digita Accounts Production Advanced 6.30.9574.0 true true 01137977 2023-02-01 2024-01-31 01137977 2024-01-31 01137977 core:CurrentFinancialInstruments 2024-01-31 01137977 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 01137977 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 01137977 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 01137977 core:MotorVehicles 2024-01-31 01137977 core:OfficeEquipment 2024-01-31 01137977 bus:SmallEntities 2023-02-01 2024-01-31 01137977 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 01137977 bus:FilletedAccounts 2023-02-01 2024-01-31 01137977 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 01137977 bus:RegisteredOffice 2023-02-01 2024-01-31 01137977 bus:CompanySecretary1 2023-02-01 2024-01-31 01137977 bus:Director1 2023-02-01 2024-01-31 01137977 bus:Director4 2023-02-01 2024-01-31 01137977 bus:Director5 2023-02-01 2024-01-31 01137977 bus:Director6 2023-02-01 2024-01-31 01137977 bus:Director7 2023-02-01 2024-01-31 01137977 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01137977 core:Buildings 2023-02-01 2024-01-31 01137977 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01137977 core:MotorVehicles 2023-02-01 2024-01-31 01137977 core:OfficeEquipment 2023-02-01 2024-01-31 01137977 core:UKTax 2023-02-01 2024-01-31 01137977 countries:EnglandWales 2023-02-01 2024-01-31 01137977 2023-01-31 01137977 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 01137977 core:MotorVehicles 2023-01-31 01137977 core:OfficeEquipment 2023-01-31 01137977 2022-02-01 2023-01-31 01137977 2023-01-31 01137977 core:CurrentFinancialInstruments 2023-01-31 01137977 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 01137977 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 01137977 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 01137977 core:MotorVehicles 2023-01-31 01137977 core:OfficeEquipment 2023-01-31 01137977 core:UKTax 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 01137977

J.D. Lister (Furnishers) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

J.D. Lister (Furnishers) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

J.D. Lister (Furnishers) Limited

Company Information

Directors

Patrick John Lister

Shirley Ann Allison

Janet Gay Lee

James Philip Lister

Leah Eleanor Lister

Company secretary

Caroline Hedley Heaney

Registered office

12 New Yard
Clay Flats
Workington
CA14 3YE

 

J.D. Lister (Furnishers) Limited

(Registration number: 01137977)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

201,533

190,917

Current assets

 

Stocks

6

544,440

614,536

Debtors

7

357,492

255,841

Investments

8

50,000

50,000

Cash at bank and in hand

 

533,797

456,784

 

1,485,729

1,377,161

Creditors: Amounts falling due within one year

9

(682,296)

(584,665)

Net current assets

 

803,433

792,496

Total assets less current liabilities

 

1,004,966

983,413

Creditors: Amounts falling due after more than one year

9

(17,500)

(27,500)

Net assets

 

987,466

955,913

Capital and reserves

 

Called up share capital

20,000

20,000

Retained earnings

967,466

935,913

Shareholders' funds

 

987,466

955,913

For the financial year ending 31 January 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 23 October 2024 and signed on its behalf by:
 

 

J.D. Lister (Furnishers) Limited

(Registration number: 01137977)
Balance Sheet as at 31 January 2024

.........................................
Patrick John Lister
Director

   
     
 

J.D. Lister (Furnishers) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 New Yard
Clay Flats
Workington
CA14 3YE

These financial statements were authorised for issue by the Board on 23 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Tax

The tax expense for the period comprises current 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.

 

J.D. Lister (Furnishers) Limited

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

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.

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

Freehold Property

2% straight line

Motor Vehicles

20% straight line

Office Equipment

15% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

J.D. Lister (Furnishers) Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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 27 (2023 - 30).

 

J.D. Lister (Furnishers) Limited

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

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

5,857

22,470

5

Tangible assets

Land and buildings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

234,501

118,419

46,073

398,993

Additions

-

10,980

14,225

25,205

At 31 January 2024

234,501

129,399

60,298

424,198

Depreciation

At 1 February 2023

57,722

108,412

41,942

208,076

Charge for the year

4,690

3,200

6,699

14,589

At 31 January 2024

62,412

111,612

48,641

222,665

Carrying amount

At 31 January 2024

172,089

17,787

11,657

201,533

At 31 January 2023

176,779

10,007

4,131

190,917

Included within the net book value of land and buildings above is £172,089 (2023 - £176,779) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

544,440

614,536

 

J.D. Lister (Furnishers) Limited

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

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

48,568

38,324

Amounts owed by related parties

282,559

192,321

Prepayments

 

26,365

25,196

   

357,492

255,841

8

Current asset investments

2024
£

2023
£

Other investments

50,000

50,000

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

154,053

104,573

Taxation and social security

 

78,630

85,151

Other creditors

 

439,613

384,941

 

682,296

584,665