IRIS Accounts Production v24.3.0.553 05768560 director 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057685602023-04-30057685602024-04-30057685602023-05-012024-04-30057685602022-04-30057685602022-05-012023-04-30057685602023-04-3005768560ns15:EnglandWales2023-05-012024-04-3005768560ns14:PoundSterling2023-05-012024-04-3005768560ns10:Director12023-05-012024-04-3005768560ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005768560ns10:SmallEntities2023-05-012024-04-3005768560ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3005768560ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005768560ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005768560ns10:AbridgedAccounts2023-05-012024-04-300576856012023-05-012024-04-3005768560ns10:CompanySecretary12023-05-012024-04-3005768560ns10:RegisteredOffice2023-05-012024-04-3005768560ns5:CurrentFinancialInstruments2024-04-3005768560ns5:CurrentFinancialInstruments2023-04-3005768560ns5:Non-currentFinancialInstruments2024-04-3005768560ns5:Non-currentFinancialInstruments2023-04-3005768560ns5:ShareCapital2024-04-3005768560ns5:ShareCapital2023-04-3005768560ns5:RetainedEarningsAccumulatedLosses2024-04-3005768560ns5:RetainedEarningsAccumulatedLosses2023-04-3005768560ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-30
REGISTERED NUMBER: 05768560 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 April 2024

for

FJ Sleeman And Son Limited

FJ Sleeman And Son Limited (Registered number: 05768560)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FJ Sleeman And Son Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: J I Sleeman





SECRETARY: J I Sleeman





REGISTERED OFFICE: Metherell Gard
Burn View
Bude
Cornwall
EX23 8BX





REGISTERED NUMBER: 05768560 (England and Wales)





ACCOUNTANTS: Metherell Gard Ltd
Chartered Accountants
Burn View
Bude
Cornwall
EX23 8BX

FJ Sleeman And Son Limited (Registered number: 05768560)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 9,000
Tangible assets 5 414,484 428,516
420,484 437,516

CURRENT ASSETS
Stocks 634,241 428,715
Debtors 561,222 911,061
Cash at bank 528,425 241,888
1,723,888 1,581,664
CREDITORS
Amounts falling due within one year 154,616 213,937
NET CURRENT ASSETS 1,569,272 1,367,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,989,756

1,805,243

CREDITORS
Amounts falling due after more than one
year

(6,654

)

(1,121

)

PROVISIONS FOR LIABILITIES (70,500 ) (74,000 )
NET ASSETS 1,912,602 1,730,122

CAPITAL AND RESERVES
Called up share capital 100,100 100,100
Retained earnings 1,812,502 1,630,022
SHAREHOLDERS' FUNDS 1,912,602 1,730,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

FJ Sleeman And Son Limited (Registered number: 05768560)

Abridged Balance Sheet - continued
30 April 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 November 2024 and were signed by:





J I Sleeman - Director


FJ Sleeman And Son Limited (Registered number: 05768560)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

FJ Sleeman And Son 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and services, excluding value added tax. Revenue is recognised as the right to consideration is obtained through performance of contractual obligation.

Sale of goods
Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. This is generally on exchange of contracts.

Rendering of services
Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method. This is generally when stage payments or final invoices have been raised.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property - Nil
Plant and machinery etc - 10% to 20% on reducing balance or cost.

The policy of the directors is to maintain the freehold buildings to a good standard of repair and so in their
opinion no depreciation is required as the expected residual value of the buildings at the end of their useful life is above the carrying value in the accounts.

Stocks
Stock and Work in Progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion, costs of construction and other associated costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


FJ Sleeman And Son Limited (Registered number: 05768560)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Financial instruments
All financial instruments are recognised initially at transaction price excluding transaction costs and subsequently at amortised cost. These include cash at bank, trade and other debtors and trade and other creditors.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

FJ Sleeman And Son Limited (Registered number: 05768560)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 60,000
AMORTISATION
At 1 May 2023 51,000
Amortisation for year 3,000
At 30 April 2024 54,000
NET BOOK VALUE

At 30 April 2024 6,000
At 30 April 2023 9,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 562,600
Additions 29,525
Disposals (16,395 )
At 30 April 2024 575,730
DEPRECIATION
At 1 May 2023 134,084
Charge for year 38,825
Eliminated on disposal (11,663 )
At 30 April 2024 161,246
NET BOOK VALUE
At 30 April 2024 414,484
At 30 April 2023 428,516

FJ Sleeman And Son Limited (Registered number: 05768560)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 May 2023 72,133
Additions 13,800
Transfer to ownership (41,233 )
At 30 April 2024 44,700
DEPRECIATION
At 1 May 2023 16,693
Charge for year 3,395
Transfer to ownership (10,616 )
At 30 April 2024 9,472
NET BOOK VALUE
At 30 April 2024 35,228
At 30 April 2023 55,440

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 11,146 9,929

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

A loan advance of £140,000 (2023:£580,000) was made during the year. The loan was repaid on 3 May 2024. Interest was charged on the loan.