Registration number:
J.W.C.I. Limited
for the Period from 1 January 2023 to 31 March 2024
J.W.C.I. Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
J.W.C.I. Limited
Company Information
Directors |
Mr J Clarke Mrs K Callear |
Company secretary |
Mrs K Callear |
Registered office |
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Accountants |
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J.W.C.I. Limited
(Registration number: 04269618)
Balance Sheet as at 31 March 2024
Note |
2024 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Other reserves |
96,447 |
91,447 |
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Retained earnings |
1,161,683 |
1,110,212 |
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Shareholders' funds |
1,258,230 |
1,201,759 |
J.W.C.I. Limited
(Registration number: 04269618)
Balance Sheet as at 31 March 2024 (continued)
For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.
Approved and authorised by the
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J.W.C.I. Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024
General information |
The company is a private company limited by share capital incorporated in England and Wales registration number: 04269618.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
The presentation currency is £ sterling.
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.
J.W.C.I. Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and are release to profit over the expected useful lives of the relevant assets by equal annual instalments
Government grants received in respect of revenue are only recognised when there is reasonable assurance that the entity will comply with the conditions attached to them and the grants will be received. Government grants are recognised in the profit and loss on a systematic basis over the period in which the entity recognises the related costs for which grants are intended to compensate.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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 |
Land and buildings |
1% straight line basis |
Land and buildings |
12% reducing balance basis |
Plant and machinery |
15% reducing balance basis |
Office equipment |
25% straight line basis |
Motor vehicles |
15% reducing balance basis |
Investment property
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
J.W.C.I. Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)
2 |
Accounting policies (continued) |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Number plates |
10 year straight line basis |
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Intangible assets |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 March 2024 |
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Amortisation |
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At 1 January 2023 |
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Amortisation charge |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 December 2022 |
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J.W.C.I. Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)
Tangible assets |
Land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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Disposals |
- |
( |
( |
At 31 March 2024 |
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Depreciation |
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At 1 January 2023 |
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Charge for the period |
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Eliminated on disposal |
- |
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( |
At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 December 2022 |
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Included within the net book value of land and buildings above is £519,958 (2022 - £509,571) in respect of freehold land and buildings.
Investment properties |
2024 |
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At 1 January |
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Fair value adjustments |
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At 31 March |
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This class of asset has a current value of £215,000 (2022 - £210,000) and a carrying amount at historical cost of £95,095 (2022 - 95,095). The depreciation on this historical cost is £Nil (2022 - £Nil).
The Investment properties class of fixed assets was revalued on 31 March 2024 by the director.
J.W.C.I. Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)
Debtors |
Current |
2024 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include bank loans, which are secured by the land and property owed by the company. Due under one year £18,038 (2022 - £19,200) or government backed guarantee (due under one year £10,126 (2021 - £10,120)).
J.W.C.I. Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)
8 |
Creditors (continued) |
Creditors: amounts falling due after more than one year
Note |
2024 |
2022 |
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Due after one year |
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Loans and borrowings |
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Deferred income |
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Other creditors |
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Creditors include bank loans, which are secured by the land and property owed by the company. Due in over one year £44,294 (2022 - £69,637 or government backed guarantee (due in over one year £17,721 (2022 - £30,834).
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Summary of transactions with entities with joint control or significant interest
The loan outstanding at that date £7,329 (2022 £8,084) was written off. The amount written off is disclosed as miscellaneous other operating income
The company had also provided use of property to the connected company. No rent was charged for the use of the property.