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Registered number: 3544556
C J Weeks Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
JP Accounting Services
MAAT
1 Knowle Close
Cullompton
Devon
EX15 1TF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 3544556
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,859 32,718
27,859 32,718
CURRENT ASSETS
Debtors 5 22,837 15,292
Cash at bank and in hand 8,356 12,346
31,193 27,638
Creditors: Amounts Falling Due Within One Year 6 (34,183 ) (25,524 )
NET CURRENT ASSETS (LIABILITIES) (2,990 ) 2,114
TOTAL ASSETS LESS CURRENT LIABILITIES 24,869 34,832
Creditors: Amounts Falling Due After More Than One Year 7 (21,416 ) (31,168 )
NET ASSETS 3,453 3,664
CAPITAL AND RESERVES
Called up share capital 8 10 10
Other reserves 3,654 3
Profit and Loss Account (211 ) 3,651
SHAREHOLDERS' FUNDS 3,453 3,664
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Craig Weeks
Director
23/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
C J Weeks Ltd Registered number 3544556 is a limited by shares company incorporated in England & Wales. The Registered Office is 1 Knowle Close, Cullompton, EX15 1TF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
Computer Equipment 20%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 1 1
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 1,483 42,740 33,495 1,311 79,029
Additions - 1,873 - 204 2,077
As at 31 March 2024 1,483 44,613 33,495 1,515 81,106
Depreciation
As at 1 April 2023 - 30,751 14,695 865 46,311
Provided during the period - 5,036 1,680 220 6,936
As at 31 March 2024 - 35,787 16,375 1,085 53,247
Net Book Value
As at 31 March 2024 1,483 8,826 17,120 430 27,859
As at 1 April 2023 1,483 11,989 18,800 446 32,718
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,048 15,292
Directors' loan accounts 1,789 -
22,837 15,292
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,844 9,928
Corporation tax 18,517 12,868
Other taxes and social security 507 262
VAT 5,130 2,280
Other creditors 185 167
Directors' loan accounts - 19
34,183 25,524
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,000 19,000
Other loans 8,416 12,168
21,416 31,168
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mrs Laura Weeks - 715 - - 715
Mr Craig Weeks - 1,073 - - 1,073
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mrs Laura Weeks 24,212 22,080
Mr Craig Weeks 36,318 33,120
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid - 15,000
Final dividend paid 60,530 40,200
60,530 55,200
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