J.W.C.I. Limited 04269618 false 2023-01-01 2024-03-31 2024-03-31 The principal activity of the company is mechanical service contractors and retailers of general hardware Digita Accounts Production Advanced 6.30.9574.0 true 04269618 2023-01-01 2024-03-31 04269618 2024-03-31 04269618 core:CurrentFinancialInstruments 2024-03-31 04269618 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04269618 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04269618 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 04269618 core:LandBuildings 2024-03-31 04269618 core:OtherPropertyPlantEquipment 2024-03-31 04269618 bus:SmallEntities 2023-01-01 2024-03-31 04269618 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-03-31 04269618 bus:FilletedAccounts 2023-01-01 2024-03-31 04269618 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-03-31 04269618 bus:RegisteredOffice 2023-01-01 2024-03-31 04269618 bus:CompanySecretaryDirector1 2023-01-01 2024-03-31 04269618 bus:Director1 2023-01-01 2024-03-31 04269618 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 04269618 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2024-03-31 04269618 core:Buildings 2023-01-01 2024-03-31 04269618 core:LandBuildings 2023-01-01 2024-03-31 04269618 core:MotorVehicles 2023-01-01 2024-03-31 04269618 core:OfficeEquipment 2023-01-01 2024-03-31 04269618 core:OtherPropertyPlantEquipment 2023-01-01 2024-03-31 04269618 core:PlantMachinery 2023-01-01 2024-03-31 04269618 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-01 2024-03-31 04269618 countries:EnglandWales 2023-01-01 2024-03-31 04269618 2022-12-31 04269618 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 04269618 core:LandBuildings 2022-12-31 04269618 core:OtherPropertyPlantEquipment 2022-12-31 04269618 2022-01-01 2022-12-31 04269618 2022-12-31 04269618 core:CurrentFinancialInstruments 2022-12-31 04269618 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04269618 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04269618 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 04269618 core:LandBuildings 2022-12-31 04269618 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 04269618

J.W.C.I. Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 31 March 2024

 

J.W.C.I. Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

J.W.C.I. Limited

Company Information

Directors

Mr J Clarke

Mrs K Callear

Company secretary

Mrs K Callear

Registered office

Fourways Cottage
Fole
Uttoxeter
Staffordshire
ST14 5EW

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

J.W.C.I. Limited

(Registration number: 04269618)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Intangible assets

4

456

650

Tangible assets

5

884,986

874,858

Investment property

6

215,000

210,000

 

1,100,442

1,085,508

Current assets

 

Stocks

28,296

90,000

Debtors

7

262,370

134,240

Cash at bank and in hand

 

534,835

640,863

 

825,501

865,103

Creditors: Amounts falling due within one year

8

(238,040)

(319,993)

Net current assets

 

587,461

545,110

Total assets less current liabilities

 

1,687,903

1,630,618

Creditors: Amounts falling due after more than one year

8

(322,988)

(313,528)

Provisions for liabilities

(106,685)

(115,331)

Net assets

 

1,258,230

1,201,759

Capital and reserves

 

Called up share capital

100

100

Other reserves

96,447

91,447

Retained earnings

1,161,683

1,110,212

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:

The members have not required the company to obtain an audit of its accounts for the period 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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mr J Clarke
Director

   
     
 

J.W.C.I. Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

1

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:
Fourways Cottage
Fole
Uttoxeter
Staffordshire
ST14 5EW

These financial statements were authorised for issue by the Board on 28 November 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 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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 15 (2022 - 13).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

1,941

1,941

At 31 March 2024

1,941

1,941

Amortisation

At 1 January 2023

1,291

1,291

Amortisation charge

194

194

At 31 March 2024

1,485

1,485

Carrying amount

At 31 March 2024

456

456

At 31 December 2022

650

650

 

J.W.C.I. Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024 (continued)

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

551,892

825,887

1,377,779

Additions

14,933

93,020

107,953

Disposals

-

(129,166)

(129,166)

At 31 March 2024

566,825

789,741

1,356,566

Depreciation

At 1 January 2023

42,321

460,600

502,921

Charge for the period

4,546

56,508

61,054

Eliminated on disposal

-

(92,395)

(92,395)

At 31 March 2024

46,867

424,713

471,580

Carrying amount

At 31 March 2024

519,958

365,028

884,986

At 31 December 2022

509,571

365,287

874,858

Included within the net book value of land and buildings above is £519,958 (2022 - £509,571) in respect of freehold land and buildings.
 

6

Investment properties

2024
£

At 1 January

210,000

Fair value adjustments

5,000

At 31 March

215,000

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)

7

Debtors

Current

2024
£

2022
£

Trade debtors

219,243

106,966

Prepayments

36,743

23,565

Other debtors

6,384

3,709

 

262,370

134,240

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

28,164

29,319

Trade creditors

 

34,663

69,149

Taxation and social security

 

76,151

115,034

Accruals and deferred income

 

11,242

9,922

Other creditors

 

87,820

96,569

 

238,040

319,993

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
£

Due after one year

 

Loans and borrowings

62,015

100,021

Deferred income

 

6,083

918

Other creditors

 

254,890

212,589

 

322,988

313,528

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).

9

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 £1,891 (2022 - £3,956).

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

A connected company ceased to trade during the period and was dissolved on 19 March 2024.

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.