Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-02-01falseremoval contractors1821trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 1575496 2023-02-01 2024-01-31 1575496 2022-02-01 2023-01-31 1575496 2024-01-31 1575496 2023-01-31 1575496 2022-02-01 1575496 c:Director1 2023-02-01 2024-01-31 1575496 d:Buildings d:ShortLeaseholdAssets 2023-02-01 2024-01-31 1575496 d:Buildings d:ShortLeaseholdAssets 2024-01-31 1575496 d:Buildings d:ShortLeaseholdAssets 2023-01-31 1575496 d:PlantMachinery 2023-02-01 2024-01-31 1575496 d:PlantMachinery 2024-01-31 1575496 d:PlantMachinery 2023-01-31 1575496 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 1575496 d:MotorVehicles 2023-02-01 2024-01-31 1575496 d:MotorVehicles 2024-01-31 1575496 d:MotorVehicles 2023-01-31 1575496 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 1575496 d:OfficeEquipment 2023-02-01 2024-01-31 1575496 d:OfficeEquipment 2024-01-31 1575496 d:OfficeEquipment 2023-01-31 1575496 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 1575496 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 1575496 d:CurrentFinancialInstruments 2024-01-31 1575496 d:CurrentFinancialInstruments 2023-01-31 1575496 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 1575496 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 1575496 d:ShareCapital 2024-01-31 1575496 d:ShareCapital 2023-01-31 1575496 d:CapitalRedemptionReserve 2024-01-31 1575496 d:CapitalRedemptionReserve 2023-01-31 1575496 d:RetainedEarningsAccumulatedLosses 2024-01-31 1575496 d:RetainedEarningsAccumulatedLosses 2023-01-31 1575496 c:FRS102 2023-02-01 2024-01-31 1575496 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 1575496 c:FullAccounts 2023-02-01 2024-01-31 1575496 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 1575496 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 1575496 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 1575496 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 1575496





 
Jeakins Removals Limited          
 
Financial statements          

For the year ended 31 January 2024          

 
Jeakins Removals Limited
Registered number:1575496

Balance sheet
As at 31 January 2024


2024

2023
                                                                       Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
276,428
319,262

Current assets
  

Debtors
 5 
79,349
69,639

Cash at bank and in hand
  
386,926
389,577

  
466,275
459,216

Creditors: amounts falling due within one year
 7 
(174,125)
(241,611)

Net current assets
  
 
 
292,150
 
 
217,605

Total assets less current liabilities
  
568,578
536,867

Provisions for liabilities
  

Deferred taxation
 8 
(27,185)
(43,525)

Net assets
  
541,393
493,342


Capital and reserves
  

Called up share capital 
  
3,666
3,666

Capital redemption reserve
  
1,334
1,334

Profit and loss account
  
536,393
488,342

  
541,393
493,342


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 30 October 2024.


M K Jeakins
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
Jeakins Removals Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

1.


General information

Jeakins Removals Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Charles House, Denbigh Road, Basildon, Essex, SS15 6PY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets and depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
Jeakins Removals Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance basis.

Depreciation is provided at the following rates:

Land and buildings
-
Straight line over the period of the lease
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Furniture, fittings and equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 
Page 3

 
Jeakins Removals Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
Jeakins Removals Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.9

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.10

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
Jeakins Removals Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 21).


4.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Furniture, fittings and equipment
Total

£
£
£
£
£



Cost


At 1 February 2023
120,692
65,492
529,497
24,442
740,123


Additions
19,066
-
-
-
19,066


Disposals
-
-
(29,610)
-
(29,610)



At 31 January 2024

139,758
65,492
499,887
24,442
729,579



Depreciation


At 1 February 2023
1,973
37,044
366,933
14,911
420,861


Charge for the year
6,642
7,111
38,618
1,432
53,803


Disposals
-
-
(21,514)
-
(21,514)



At 31 January 2024

8,615
44,155
384,037
16,343
453,150



Net book value



At 31 January 2024
131,143
21,337
115,850
8,099
276,429



At 31 January 2023
118,719
28,448
162,564
9,531
319,262




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Short leasehold
131,143
118,719


Page 6

 
Jeakins Removals Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

5.


Debtors

2024
2023
£
£


Trade debtors
20,247
15,046

Amounts owed by related parties
27,593
27,593

Other debtors
23,212
7,719

Prepayments and accrued income
8,297
19,281

79,349
69,639


Included within other debtors due within one year is a loan to M Jeakins, a director, amounting to £15,943 (2023 - £Nil). The maximum balance outstanding in the year was £25,943 (2023 - £7,500). No interest has been charged on this loan.


6.


Current asset investments




7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
50,517
181,917

Corporation tax
36,933
31,251

Taxation and social security
36,473
9,927

Other creditors
12,148
8,860

Accruals and deferred income
38,054
9,656

174,125
241,611



8.


Deferred taxation




2024
2023


£

£






At beginning of year
43,525
42,904


(Released during)/charged for the year
(16,340)
621



At end of year
27,185
43,525

Page 7

 
Jeakins Removals Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
27,185
43,525


9.


Related party transactions

During the year the company paid rent to Earlysignal Limited, a company under common control of the directors, amounting to £40,000 (2023 - £36,000). At the balance sheet date the amount owed by the company in respect of the intercompany loan that is not subject to any interest charge, was £27,593  (2023 - £27,593).


10.


Pension commitments

The company operates two defined contributions pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension charge represents contributions payable by the company to the funds and amounted to £16,693 (2023 -  £19,210). Contributions totaling £275 (2023 - £885) were payable to the fund at the balance sheet date and are included in creditors. 

 
Page 8