Alan Jones Funeral Directors Limited
Registered number: 08079116
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 421,242 453,646
Tangible assets 4 1,113,913 1,206,125
1,535,155 1,659,771
Current assets
Stocks 46,663 42,157
Debtors 5 116,028 124,467
Cash at bank and in hand 808,422 830,709
971,113 997,333
Creditors: amounts falling due within one year 6 (140,122) (112,747)
Net current assets 830,991 884,586
Total assets less current liabilities 2,366,146 2,544,357
Creditors: amounts falling due after more than one year 7 (33,068) (71,722)
Provisions for liabilities (108,900) (110,075)
Net assets 2,224,178 2,362,560
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,224,078 2,362,460
Shareholders' funds 2,224,178 2,362,560
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Jones
Director
Approved by the board on 18 October 2024
Alan Jones Funeral Directors Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land and buildings not depreciated
Plant and machinery over 5 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 28 27
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 810,090
At 30 June 2024 810,090
Amortisation
At 1 July 2023 356,444
Provided during the year 32,404
At 30 June 2024 388,848
Net book value
At 30 June 2024 421,242
At 30 June 2023 453,646
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 599,684 130,510 813,608 1,543,802
Additions - 20,868 67,167 88,035
Disposals - - (21,600) (21,600)
At 30 June 2024 599,684 151,378 859,175 1,610,237
Depreciation
At 1 July 2023 - 101,686 235,991 337,677
Charge for the year - 9,938 158,159 168,097
On disposals - - (9,450) (9,450)
At 30 June 2024 - 111,624 384,700 496,324
Net book value
At 30 June 2024 599,684 39,754 474,475 1,113,913
At 30 June 2023 599,684 28,824 577,617 1,206,125
5 Debtors 2024 2023
£ £
Trade debtors 103,990 110,414
Other debtors 12,038 14,053
116,028 124,467
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 66,812 59,329
Trade creditors 41,464 50,137
Corporation tax 28,214 -
Other creditors 3,632 3,281
140,122 112,747
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 33,068 71,722
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 3,120 9,360
9 Other information
Alan Jones Funeral Directors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Levine House
233 Wigan Road
Ashton in Makerfield
Wigan
WN4 9SL
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