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Registration number: 03231680

J & A Allely Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

J & A Allely Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

J & A Allely Limited

Company Information

Directors

A S Allely

J A Allely

Company secretary

J A Allely

Registered office

Trerhose
Ghost Hill
Mullion
Helston
Cornwall
TR12 7EX

Accountants

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
J & A Allely Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J & A Allely Limited for the year ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of J & A Allely Limited, as a body, in accordance with the terms of our engagement letter dated 9 December 2021. Our work has been undertaken solely to prepare for your approval the accounts of J & A Allely Limited and state those matters that we have agreed to state to the Board of Directors of J & A Allely Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J & A Allely Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J & A Allely Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of J & A Allely Limited. You consider that J & A Allely Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of J & A Allely Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

4 December 2024

 

J & A Allely Limited

(Registration number: 03231680)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,219

1,654

Investment property

5

160,000

160,000

 

161,219

161,654

Current assets

 

Stocks

6

176,297

176,297

Debtors

7

149,534

149,534

 

325,831

325,831

Creditors: Amounts falling due within one year

8

(15,845)

(15,845)

Net current assets

 

309,986

309,986

Net assets

 

471,205

471,640

Capital and reserves

 

Called up share capital

9

800,000

800,000

Retained earnings

(328,795)

(328,360)

Shareholders' funds

 

471,205

471,640

For the financial 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.

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 directors' report and the Profit and Loss Account.

Approved and authorised by the Board on 4 December 2024 and signed on its behalf by:
 

.........................................
J A Allely
Company secretary and director

 

J & A Allely Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Trerhose
Ghost Hill
Mullion
Helston
Cornwall
TR12 7EX

These financial statements were authorised for issue by the Board on 4 December 2024.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

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

Leasehold property

Straight line over the life of the lease

Fixtures, fittings and equipment

15% reducing balance

 

J & A Allely Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

J & A Allely Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

9,013

364

9,377

At 31 March 2024

9,013

364

9,377

Depreciation

At 1 April 2023

7,400

323

7,723

Charge for the year

429

6

435

At 31 March 2024

7,829

329

8,158

Carrying amount

At 31 March 2024

1,184

35

1,219

At 31 March 2023

1,613

41

1,654

Included within the net book value of land and buildings above is £1,184 (2023 - £1,613) in respect of short leasehold land and buildings.
 

5

Investment properties

2024
£

At 1 April

160,000

At 31 March

160,000

There has been no valuation of investment property by an independent valuer.

 

J & A Allely Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

176,297

176,297

7

Debtors

Current

2024
£

2023
£

Other debtors

149,534

149,534

 

149,534

149,534

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8.1

15,005

15,005

Accruals and deferred income

 

840

840

 

15,845

15,845

8.1

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

15,005

15,005

 

J & A Allely Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

800,000

800,000

800,000

800,000