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REGISTERED NUMBER: 04512162 (England and Wales)















J & J REASON AND SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






J & J REASON AND SONS LIMITED (REGISTERED NUMBER: 04512162)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J & J REASON AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Reason
C J Reason
J Reason
M Reason
R Reason





SECRETARY: A Reason





REGISTERED OFFICE: 180 Siskin Parkway West
Coventry
West Midlands
CV3 4PA





REGISTERED NUMBER: 04512162 (England and Wales)






J & J REASON AND SONS LIMITED (REGISTERED NUMBER: 04512162)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 178,878 249,615
178,878 249,615

CURRENT ASSETS
Debtors 6 2,492,986 2,436,773
Cash at bank and in hand 1,702,980 1,277,353
4,195,966 3,714,126
CREDITORS
Amounts falling due within one year 7 2,648,866 2,436,202
NET CURRENT ASSETS 1,547,100 1,277,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,725,978

1,527,539

CREDITORS
Amounts falling due after more than one
year

8

(12,500

)

(22,500

)

PROVISIONS FOR LIABILITIES (42,975 ) (60,276 )
NET ASSETS 1,670,503 1,444,763

CAPITAL AND RESERVES
Called up share capital 10 102 102
Retained earnings 1,670,401 1,444,661
SHAREHOLDERS' FUNDS 1,670,503 1,444,763

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 directors acknowledge their 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




A Reason - Director


J & J REASON AND SONS LIMITED (REGISTERED NUMBER: 04512162)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

J & J Reason and 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
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) including the provisions of Section 1A 'Small Entities' and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified as necessary to include certain items at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 2% on cost and at variable rates on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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 48 (2023 - 49 ) .

J & J REASON AND SONS LIMITED (REGISTERED NUMBER: 04512162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 60,000
AMORTISATION
At 1 April 2023
and 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 937,975
Additions 21,834
Disposals (92,601 )
At 31 March 2024 867,208
DEPRECIATION
At 1 April 2023 688,360
Charge for year 64,387
Eliminated on disposal (64,417 )
At 31 March 2024 688,330
NET BOOK VALUE
At 31 March 2024 178,878
At 31 March 2023 249,615

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

Plant and
machinery
etc
£   
COST
At 1 April 2023 103,471
Transfer to ownership (103,471 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 70,733
Transfer to ownership (70,733 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 32,738

J & J REASON AND SONS LIMITED (REGISTERED NUMBER: 04512162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,939,628 1,904,505
Amounts owed by group undertakings 290,500 290,500
Other debtors 262,858 241,768
2,492,986 2,436,773

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 9,700
Trade creditors 1,713,325 1,886,795
Taxation and social security 419,145 361,768
Other creditors 506,396 167,939
2,648,866 2,436,202

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,500 22,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 9,700

Close Brothers Limited - Fixed and floating charge over company assets - dated 21/12/17.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A shares 1 100 100
2 Ordinary B shares 1 2 2
102 102