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REGISTERED NUMBER: 00481060 (England and Wales)











Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Joshua Greaves & Sons Limited

Joshua Greaves & Sons Limited (Registered number: 00481060)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Joshua Greaves & Sons Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: E Greaves





REGISTERED OFFICE: Atlas Engineering Works
Garden Street
Ramsbottom
Lancs
BL0 9BG





REGISTERED NUMBER: 00481060 (England and Wales)






Joshua Greaves & Sons Limited (Registered number: 00481060)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,012,502 1,047,253
Investments 5 3,660 2,477
1,016,162 1,049,730

CURRENT ASSETS
Stocks 994,389 1,104,712
Debtors 6 863,229 627,566
Cash at bank and in hand 323,098 497,483
2,180,716 2,229,761
CREDITORS
Amounts falling due within one year 7 1,256,577 1,483,807
NET CURRENT ASSETS 924,139 745,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,940,301

1,795,684

CREDITORS
Amounts falling due after more than
one year

8

(423,079

)

(413,077

)

PROVISIONS FOR LIABILITIES 9 (219,181 ) (173,180 )
NET ASSETS 1,298,041 1,209,427

CAPITAL AND RESERVES
Called up share capital 951 951
Revaluation reserve 579,052 577,869
Capital redemption reserve 2,049 2,049
Retained earnings 715,989 628,558
SHAREHOLDERS' FUNDS 1,298,041 1,209,427

Joshua Greaves & Sons Limited (Registered number: 00481060)

Statement of Financial Position - continued
31 March 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 24 October 2024 and were signed by:





E Greaves - Director


Joshua Greaves & Sons Limited (Registered number: 00481060)

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

1. STATUTORY INFORMATION

Joshua Greaves & Sons 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 as modified by the revaluation of certain assets.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on reducing balance and 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


Joshua Greaves & Sons Limited (Registered number: 00481060)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 42 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 915,000 1,514,505 2,429,505
Additions - 50,945 50,945
Disposals - (42,150 ) (42,150 )
At 31 March 2024 915,000 1,523,300 2,438,300
DEPRECIATION
At 1 April 2023 186,449 1,195,803 1,382,252
Charge for year 18,300 60,723 79,023
Eliminated on disposal - (35,477 ) (35,477 )
At 31 March 2024 204,749 1,221,049 1,425,798
NET BOOK VALUE
At 31 March 2024 710,251 302,251 1,012,502
At 31 March 2023 728,551 318,702 1,047,253

Joshua Greaves & Sons Limited (Registered number: 00481060)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 2,477
Revaluations 1,183
At 31 March 2024 3,660
NET BOOK VALUE
At 31 March 2024 3,660
At 31 March 2023 2,477

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 3,660

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 819,359 575,682
Other debtors 43,870 51,884
863,229 627,566

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 36,610 69,776
Hire purchase contracts 11,979 6,717
Payments on account 485,686 810,972
Trade creditors 458,833 398,485
Taxation and social security 237,766 194,777
Other creditors 25,703 3,080
1,256,577 1,483,807

Joshua Greaves & Sons Limited (Registered number: 00481060)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 385,526 388,483
Hire purchase contracts 37,553 24,594
423,079 413,077

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 219,181 173,180

Deferred
tax
£   
Balance at 1 April 2023 173,180
Provided during year 46,001
Balance at 31 March 2024 219,181