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Registration number: 02261849

J.A.N. Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

J.A.N. Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

J.A.N. Limited

Company Information

Director

Mrs A J Nicholson

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
J.A.N. Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J.A.N. Limited for the year ended 31 March 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of J.A.N. Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of J.A.N. Limited and state those matters that we have agreed to state to the Board of Directors of J.A.N. Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J.A.N. Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J.A.N. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of J.A.N. Limited. You consider that J.A.N. Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of J.A.N. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

4 July 2024

 

J.A.N. Limited

(Registration number: 02261849)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

431,500

457,000

Tangible assets

5

1,037,465

1,051,313

 

1,468,965

1,508,313

Current assets

 

Stocks

1,500

1,200

Debtors

6

27,264

23,055

Cash at bank and in hand

 

105,456

86,532

 

134,220

110,787

Creditors: Amounts falling due within one year

7

(177,273)

(225,301)

Net current liabilities

 

(43,053)

(114,514)

Total assets less current liabilities

 

1,425,912

1,393,799

Creditors: Amounts falling due after more than one year

7

(392,956)

(490,507)

Provisions for liabilities

(9,263)

(7,111)

Net assets

 

1,023,693

896,181

Capital and reserves

 

Called up share capital

15,000

15,000

Retained earnings

1,008,693

881,181

Shareholders' funds

 

1,023,693

896,181

 

J.A.N. Limited

(Registration number: 02261849)
Balance Sheet as at 31 March 2024

For the financial 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.

Director's 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 director acknowledges her 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 4 July 2024
 

.........................................

Mrs A J Nicholson

Director

 

J.A.N. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
46 Lipson Rd
Lipson
Plymouth
Devon
PL4 8RG

These financial statements were authorised for issue by the director on 4 July 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.

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.

 

J.A.N. Limited

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

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

Land & Buildings

2% straight line

Fixture and Fittings

15% reducing balance

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

 

J.A.N. Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 the director) during the year, was 41 (2023 - 38).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

510,000

510,000

At 31 March 2024

510,000

510,000

Amortisation

At 1 April 2023

53,000

53,000

Amortisation charge

25,500

25,500

At 31 March 2024

78,500

78,500

Carrying amount

At 31 March 2024

431,500

431,500

At 31 March 2023

457,000

457,000

 

J.A.N. Limited

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

1,070,565

154,409

54,709

1,279,683

Additions

-

8,112

-

8,112

At 31 March 2024

1,070,565

162,521

54,709

1,287,795

Depreciation

At 1 April 2023

56,937

118,852

52,581

228,370

Charge for the year

13,411

8,017

532

21,960

At 31 March 2024

70,348

126,869

53,113

250,330

Carrying amount

At 31 March 2024

1,000,217

35,652

1,596

1,037,465

At 31 March 2023

1,013,628

35,557

2,128

1,051,313

Included within the net book value of land and buildings above is £1,000,217 (2023 - £1,013,628) in respect of freehold land and buildings.
 

 

J.A.N. Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

19,026

14,820

Prepayments

8,238

8,235

27,264

23,055

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

50,583

58,383

Trade creditors

 

6,506

17,127

Taxation and social security

 

71,383

42,198

Accruals and deferred income

 

16,003

12,711

Other creditors

 

32,798

94,882

 

177,273

225,301

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

392,956

490,507

Creditors due after more than one year include bank loans which are secured of £226,652 (2023: £285,251).