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REGISTERED NUMBER: 01350029 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

J. & J. Sharkey Limited

J. & J. Sharkey Limited (Registered number: 01350029)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


J. & J. Sharkey Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R Sharkey
J Shakey





SECRETARY: J Shakey





REGISTERED OFFICE: 36 Berkeley Drive
Read
Burnley
Lancashire
BB12 7QG





REGISTERED NUMBER: 01350029 (England and Wales)





ACCOUNTANTS: Ribble Valley Accountants Ltd
14 Towneley Parade
Longridge
Preston
Lancashire
PR3 3HU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
J. & J. Sharkey Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J. & J. Sharkey Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of J. & J. Sharkey Limited, as a body, in accordance with the terms of our engagement letter dated 9 July 2021. Our work has been undertaken solely to prepare for your approval the financial statements of J. & J. Sharkey Limited and state those matters that we have agreed to state to the Board of Directors of J. & J. Sharkey Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J. & J. Sharkey Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J. & J. Sharkey Limited. You consider that J. & J. Sharkey 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 financial statements of J. & J. Sharkey 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 financial statements.






Ribble Valley Accountants Ltd
14 Towneley Parade
Longridge
Preston
Lancashire
PR3 3HU


31 October 2024

J. & J. Sharkey Limited (Registered number: 01350029)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 36,415 56,606
Tangible assets 5 37,802 45,122
74,217 101,728

CURRENT ASSETS
Stocks 355,115 243,827
Debtors 6 45,670 7,551
Cash at bank and in hand 88,500 251,641
489,285 503,019
CREDITORS
Amounts falling due within one year 7 428,470 349,131
NET CURRENT ASSETS 60,815 153,888
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,032

255,616

CREDITORS
Amounts falling due after more than one
year

8

(121,881

)

(193,227

)

PROVISIONS FOR LIABILITIES (11,713 ) (11,713 )
NET ASSETS 1,438 50,676

CAPITAL AND RESERVES
Called up share capital 40 40
Retained earnings 1,398 50,636
SHAREHOLDERS' FUNDS 1,438 50,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:



R Sharkey - Director


J. & J. Sharkey Limited (Registered number: 01350029)

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

1. STATUTORY INFORMATION

J. & J. Sharkey Limited 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.

2. ACCOUNTING POLICIES

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

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 46 ) .

J. & J. Sharkey Limited (Registered number: 01350029)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 February 2023
and 31 January 2024 201,910
AMORTISATION
At 1 February 2023 145,304
Amortisation for year 20,191
At 31 January 2024 165,495
NET BOOK VALUE
At 31 January 2024 36,415
At 31 January 2023 56,606

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 361,313 31,090 392,403
DEPRECIATION
At 1 February 2023 334,905 12,376 347,281
Charge for year 2,641 4,679 7,320
At 31 January 2024 337,546 17,055 354,601
NET BOOK VALUE
At 31 January 2024 23,767 14,035 37,802
At 31 January 2023 26,408 18,714 45,122

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 10,019 1,900
Directors' current accounts 30,000 -
Prepayments and accrued income 5,651 5,651
45,670 7,551

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 62,408 43,013
Hire purchase contracts 4,692 4,692
Trade creditors 271,902 225,680
Social security and other taxes 8,885 2,326
Pension 1,445 2,608
VAT 5,237 5,272
Other creditors 4,973 3,710
Directors' current accounts - 244
Accruals and deferred income 68,928 61,586
428,470 349,131

J. & J. Sharkey Limited (Registered number: 01350029)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 114,260 180,910
Hire purchase contracts 7,621 12,317
121,881 193,227