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Registration number: 03072473

JD Partnership Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

JD Partnership Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

JD Partnership Limited

Company Information

Directors

R Parkins

G M Horne

S J Dixon

D Mather

A I R Lovejoy

Registered office

1 London Street
Reading
RG1 4PN

Accountants

CRK Accounting Limited
12a Fleet Business Park
Sandy Lane
Church Crookham
Fleet
Hampshire
GU52 8BF

 

JD Partnership Limited

(Registration number: 03072473)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,090

9,166

Current assets

 

Debtors

5

259,140

312,808

Cash at bank and in hand

 

739,129

752,210

 

998,269

1,065,018

Creditors: Amounts falling due within one year

6

(424,122)

(491,903)

Net current assets

 

574,147

573,115

Total assets less current liabilities

 

584,237

582,281

Creditors: Amounts falling due after more than one year

6

(12,921)

(23,333)

Net assets

 

571,316

558,948

Capital and reserves

 

Called up share capital

652

652

Share premium reserve

4,450

4,450

Capital redemption reserve

18

18

Retained earnings

566,196

553,828

Shareholders' funds

 

571,316

558,948

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

 

JD Partnership Limited

(Registration number: 03072473)
Balance Sheet as at 30 June 2024

.........................................
S J Dixon
Director

 

JD Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
1 London Street
Reading
RG1 4PN
England

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 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 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 sales/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.

Tax

The tax expense for the period comprises current 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.

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.

 

JD Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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

Office equipment

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

JD Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Contributions to employee ownership trust

On 30 June 2021, the shares held by the previous shareholders were sold to the newly formed JD Partnership Trustee Limited, an Employee Ownership Trust (The EOT). Contributions to the EOT are recognised as movements in Reserves and not as an expense within the Income Statement.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 22).

 

JD Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

51,489

51,489

Additions

4,758

4,758

At 30 June 2024

56,247

56,247

Depreciation

At 1 July 2023

42,323

42,323

Charge for the year

3,834

3,834

At 30 June 2024

46,157

46,157

Carrying amount

At 30 June 2024

10,090

10,090

At 30 June 2023

9,166

9,166

5

Debtors

Current

2024
£

2023
£

Trade debtors

114,980

218,308

Prepayments

55,306

76,764

Other debtors

88,854

17,736

 

259,140

312,808

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10,648

10,000

Trade creditors

 

23,042

21,978

Taxation and social security

 

57,309

101,622

Accruals and deferred income

 

315,880

340,691

Other creditors

 

17,243

17,612

 

424,122

491,903

 

JD Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12,921

23,333

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Retained earnings
£

Total
£

Contribution to the employee ownership trust

(87,859)

(87,859)

8

Ultimate controlling party and Change of Ownership

On 30 June 2021, all of the shares held by the previous shareholders were sold to the newly formed JD Partnership Trustee Limited, the trustee for the JD Partnership Employee Ownership Trust ("EOT").

The benficiaries of the EOT are all the current employees of the company from time to time, no individual employee is allotted shares.

The interests of the EOT are managed by JD Partnership Trustee Limited as its trustee. The EOT is therefore the ultimate controlling shareholder in the company.