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REGISTERED NUMBER: 01427841 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Jamestan Engineering Ltd

Jamestan Engineering Ltd (Registered number: 01427841)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Jamestan Engineering Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr A P Wilson
Mr D T Pennington





REGISTERED OFFICE: Kynochs Industrial Estate
Bideford East
North Devon
EX39 4DT





REGISTERED NUMBER: 01427841 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Jamestan Engineering Ltd (Registered number: 01427841)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 482,151 614,726

CURRENT ASSETS
Stocks 839,357 616,789
Debtors 767,065 746,437
Cash at bank and in hand 87,401 99,445
1,693,823 1,462,671
CREDITORS
Amounts falling due within one year 572,635 522,870
NET CURRENT ASSETS 1,121,188 939,801
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,603,339

1,554,527

CREDITORS
Amounts falling due after more than one
year

(140,088

)

(95,749

)

PROVISIONS FOR LIABILITIES (69,604 ) (101,506 )
NET ASSETS 1,393,647 1,357,272

CAPITAL AND RESERVES
Called up share capital 7 50,000 50,000
Retained earnings 1,343,647 1,307,272
SHAREHOLDERS' FUNDS 1,393,647 1,357,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Jamestan Engineering Ltd (Registered number: 01427841)

Abridged Balance Sheet - continued
30 April 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings 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:




Mr D T Pennington - Director



Mr A P Wilson - Director


Jamestan Engineering Ltd (Registered number: 01427841)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Jamestan Engineering Ltd 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% straight line
Plant and machinery - 20% straight line
Motor vehicles - 20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Jamestan Engineering Ltd (Registered number: 01427841)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. ACCOUNTING POLICIES - continued

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 37 ) .

Jamestan Engineering Ltd (Registered number: 01427841)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 3,263,310
Additions 7,618
Disposals (5,709 )
At 30 April 2024 3,265,219
DEPRECIATION
At 1 May 2023 2,648,584
Charge for year 140,193
Eliminated on disposal (5,709 )
At 30 April 2024 2,783,068
NET BOOK VALUE
At 30 April 2024 482,151
At 30 April 2023 614,726


6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 147,500 -
Hire purchase contracts 93,240 201,858
240,740 201,858

Bank loans are secured by fixed and floating charges over the company's assets.

The hire purchase contracts are secured over the assets to which they relate.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary shares £1 50,000 50,000

8. ULTIMATE CONTROLLING PARTY

The controlling party is Jamestan Holdings Ltd.

The ultimate controlling party is Mr A P Wilson, Mrs H Wilson and Mr D T Pennington.