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Registration number: 11282690

SJ Workforce Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

SJ Workforce Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

SJ Workforce Limited

Company Information

Director

Mr S E L Murrell

Registered office

Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

SJ Workforce Limited

(Registration number: 11282690)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,574

13,743

Current assets

 

Debtors

36,712

21,734

Cash at bank and in hand

 

17,844

31,798

 

54,556

53,532

Prepayments and accrued income

 

1,096

530

Creditors: Amounts falling due within one year

5.1

(30,493)

(13,302)

Net current assets

 

25,159

40,760

Total assets less current liabilities

 

64,733

54,503

Creditors: Amounts falling due after more than one year

5.2

(15,262)

(23,709)

Provisions for liabilities

(9,894)

-

Net assets

 

39,577

30,794

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

39,575

30,792

Shareholders' funds

 

39,577

30,794

 

SJ Workforce Limited

(Registration number: 11282690)
Abridged Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 5 November 2024
 

.........................................

Mr S E L Murrell
Director

 

SJ Workforce Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

These financial statements were authorised for issue by the director on 5 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

SJ Workforce Limited

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

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

Office Equipment

20% Reducing balance

Plant & Machinery

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

SJ Workforce Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 5).

 

SJ Workforce Limited

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

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

1,900

3,500

19,673

25,073

Additions

127

5,400

29,343

34,870

Disposals

-

(3,500)

-

(3,500)

At 31 March 2024

2,027

5,400

49,016

56,443

Depreciation

At 1 April 2023

1,278

2,439

7,613

11,330

Charge for the year

137

900

6,941

7,978

Eliminated on disposal

-

(2,439)

-

(2,439)

At 31 March 2024

1,415

900

14,554

16,869

Carrying amount

At 31 March 2024

612

4,500

34,462

39,574

At 31 March 2023

622

1,061

12,060

13,743

5

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £10,129 (2023 - £9,921).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £15,262 (2023 - £23,709).

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

SJ Workforce Limited

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

7

Related party transactions

Key management personnel

Director

Summary of transactions with key management

During the year the director made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount owed to the director was £2,339 (2023 - £441).