Registered number
00877451
J.C. Atkinson and Son Limited
Report and Financial Statements
31 March 2024
J.C. Atkinson and Son Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Strategic report 4
Independent auditor's report 6
Income statement 9
Statement of comprehensive income 10
Statement of financial position 11
Statement of changes in equity 12
Statement of cash flows 13
Notes to the financial statements 14
J.C. Atkinson and Son Limited
Company Information
Directors
P J Barrand
M B Walsh (Resigned 16 February 2024)
T P Curran (Resigned 16 February 2024)
G Cranfield (appointed 26 September 2022)
I Rutter (appointed 26 February 2024)
Ms M B Whitefield (appointed 16 February 2024)
Auditors
Bell Anderson Limited
264-266 Durham Road
Gateshead
Tyne & Wear
NE8 4JR
Registered office
Unit 1, Sedling Road
Wear Industrial Estate (East)
Washington
Tyne & Wear
NE38 9BZ
Registered number
00877451
J.C. Atkinson and Son Limited
Registered number: 00877451
Directors' Report
The directors present their report and financial statements for the year ended 31 March 2024.
Principal activities
The company's principal activity during the period continued to be the manufacture and wholesale distribution of coffins.
Future developments
The directors are confident that the company can continue to invest when considered appropriate and continue to focus to increase market share
Research and development
The company continues to invest in research and development where the directors consider it necessary and where such improvement will lead to increased profitability.
Dividends
The directors do not recommend payment of any final dividend. (2023: £nil)
Directors
The following persons served as directors during the year:
P J Barrand
M B Walsh (Resigned 16 February 2024)
T P Curran (Resigned 16 February 2024)
G Cranfield (appointed 26 September 2022)
I Rutter (appointed 26 February 2024)
Ms M B Whitefield (appointed 16 February 2024)
Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 15 December 2024 and signed on its behalf.
G Cranfield
Director
J.C. Atkinson and Son Limited
Strategic Report
Review of business
Key financial and other indicators between this financial period and last year are as follows:
8 months ended 31 March
2024 2023
£ £
Turnover 16,384,688 13,072,532
Gross profit 5,505,312 4,478,602
Operating profit 806,921 717,413
Shareholders' funds 9,006,321 8,514,224
The directors are pleased to report another solid year's trading given the continued level of mortality rates within the United Kingdom. The directors continue to drive growth by concentrating on increasing market share and this will be further helped by the attendance at the National Funeral Directors Exhibition at which new products will be exhibited. The balance sheet remains strong and the directors consider that this will enable the company to continue to invest in improving the company's production and infrastructure which will lead to greater efficiencies and continued profitability in the future.
Principal risks and uncertainties
As with any business, the company faces a variety of risks and uncertainties in the normal course of its activities, but it aims to minimise any possible adverse effects on operations through the effective implementation of risk management procedures. These procedures seek to identify any potential risk to the company's business activities and on an on-going basis monitor such risk and the possible impact on the company's well-being.

The principal risks and uncertainties that the company faces and which management believes could have a material and adverse impact on operations include the following:
Market risks
The market in which the company operates continues to be highly competitive. Raw material and operational costs have in some instances increased in the year and it is not always possible to pass these increases on to customers. Furthermore, availability of product may also vary and inconsistent throughput can impact on profitability and efficiencies. However the company is well placed to mitigate against these risks with full access to quality products at reasonable cost at all times. The company also strives to build and maintain strong relationships with all customers and always to take a longer term view in dealings with them.
J.C. Atkinson and Son Limited
Strategic Report
Environmental risks
Management have continually sought to manage operations with full consideration to environmental concerns. They have been successful with a number of carbon initiatives including researching and implementing operating biomass technology in the factories. From a raw materials perspective, the risk remains low, as management continue to source wood and finished products from accredited suppliers where possible, as well as implementing and conducting their own controls and audits. In addition, contacts and relationships are continually maintained with possible alternate sources of supply.
Financial risks
The company extends credit to its customers in the normal course of business and accordingly is exposed to the risks associated with this practice. The company, however, maintains close working relationships with all customers in order to monitor their ongoing credit worthiness. The company has credit control procedures in place, including access to an external credit reference agency.

The maintenance of sufficient levels of cash liquidity and working capital are essential to the success of any business; as required, the company has agreed banking facilities available to it which are deemed to be more than adequate to meet both its short and longer term requirements
Interest rate risks
The company has agreed facilities with the bank for working capital and invoice discounting which carry variable interest 'rates at a fixed margin above base rate.
Liquidity risks
The company reduces its liquidity risk by virtue of the availability of its banking facility.
This report was approved by the board on 15 December 2024 and signed on its behalf.
G Cranfield
Director
J.C. Atkinson and Son Limited
Independent auditor's report
to the members of J.C. Atkinson and Son Limited
Opinion
We have audited the financial statements of J.C. Atkinson and Son Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates through discussions with the directors and other management (as required by auditing standards) and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. As a consequence of these inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

We did not identify any key audit matters relating to irregularities, including fraud. In common with all audits under ISA's (UK), we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Geoffrey Little FCA,CTA
(Senior Statutory Auditor) 264-266 Durham Road
for and on behalf of
Bell Anderson Limited Gateshead
Statutory Auditor Tyne & Wear
15 December 2024 NE8 4JR
J.C. Atkinson and Son Limited
Income Statement
for the year ended 31 March 2024
8 months ended 31 March
Notes 2024 2023
£ £
Turnover 3 16,384,688 13,072,532
Cost of sales (10,879,376) (8,593,930)
Gross profit 5,505,312 4,478,602
Distribution costs (895,505) (747,147)
Administrative expenses (3,802,886) (3,014,042)
Operating profit 4 806,921 717,413
Interest payable 7 (190,571) (91,860)
Profit on ordinary activities before taxation 616,350 625,553
Tax on profit on ordinary activities 8 (124,253) (198,203)
Profit for the financial year 492,097 427,350
J.C. Atkinson and Son Limited
Statement of Comprehensive Income
for the year ended 31 March 2024
8 months ended 31 March
Notes 2024 2023
£ £
Profit for the financial year 492,097 427,350
Other comprehensive income
Total comprehensive income for the year 492,097 427,350
J.C. Atkinson and Son Limited
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 9 2,180,017 2,389,346
Current assets
Stocks 10 1,607,115 2,037,819
Debtors 11 10,085,539 10,401,131
Cash at bank and in hand 460,862 400,653
12,153,516 12,839,603
Creditors: amounts falling due within one year 12 (4,726,235) (6,014,973)
Net current assets 7,427,281 6,824,630
Total assets less current liabilities 9,607,298 9,213,976
Creditors: amounts falling due after more than one year 13 (143,583) (188,792)
Provisions for liabilities
Deferred taxation 15 (457,394) (510,960)
Net assets 9,006,321 8,514,224
Capital and reserves
Called up share capital 16 29,232 29,232
Share premium 17 298 298
Other reserves 18 51,000 51,000
Capital redemption reserve 9,544 9,544
Profit and loss account 19 8,916,247 8,424,150
Total equity 9,006,321 8,514,224
G Cranfield
Director
Approved by the board on 15 December 2024
J.C. Atkinson and Son Limited
Statement of Changes in Equity
for the year ended 31 March 2024
Share Share Other Capital Profit Total
capital premium reserves redemption and loss
reserve account
£ £ £ £ £
At 1 August 2022 29,232 298 51,000 9,544 7,996,800 8,086,874
Profit for the period 427,350 427,350
At 31 March 2023 29,232 298 51,000 9,544 8,424,150 8,514,224
At 1 April 2023 29,232 298 51,000 9,544 8,424,150 8,514,224
Profit for the financial year 492,097 492,097
At 31 March 2024 29,232 298 51,000 9,544 8,916,247 9,006,321
J.C. Atkinson and Son Limited
Statement of Cash Flows
for the year ended 31 March 2024
8 months ended 31 March
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 492,097 427,350
Adjustments for:
Profit on sale of fixed assets (1,300) (2,935)
Interest payable 190,571 91,860
Tax on profit on ordinary activities 124,253 198,203
Depreciation 443,071 276,359
Decrease in stocks 430,704 109,163
Decrease/(increase) in debtors 315,592 (2,523,542)
(Decrease)/increase in creditors (663,545) 301,875
1,331,443 (1,121,667)
Interest paid (177,491) (85,911)
Interest element of finance lease payments (13,080) (5,949)
Corporation tax paid (24,100) (30,577)
Cash generated by/(used in) operating activities 1,116,772 (1,244,104)
Investing activities
Payments to acquire tangible fixed assets (238,006) (281,501)
Proceeds from sale of tangible fixed assets 5,564 12,272
Cash used in investing activities (232,442) (269,229)
Financing activities
Capital element of finance lease payments (88,788) (70,910)
Cash used in financing activities (88,788) (70,910)
Net cash generated/(used)
Cash generated by/(used in) operating activities 1,116,772 (1,244,104)
Cash used in investing activities (232,442) (269,229)
Cash used in financing activities (88,788) (70,910)
Net cash generated/(used) 795,542 (1,584,243)
Cash and cash equivalents at 1 April (2,807,179) (1,222,936)
Cash and cash equivalents at 31 March (2,011,637) (2,807,179)
Cash and cash equivalents comprise:
Cash at bank 460,862 400,653
Bank overdrafts 12 (2,472,499) (3,207,832)
(2,011,637) (2,807,179)
J.C. Atkinson and Son Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost or valuation less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 - 10 years
Fixtures, fittings, tools and equipment over 5 - 6 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Reduced disclosure
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

Section 11 ‘Basic Financial Instruments’ - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral; and
Section 33 ‘Related Party Disclosures’ - Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Newable Partnership Limited. These consolidated financial statements are available from its registered office
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Critical accounting estimates and judgements
The depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. Further disclosure is made in the appropriate note to the accounts.

The calculation of tax liabilities involves uncertainties in the application of complex tax laws. Determining tax provisions therefore requires judgement on the treatment of certain transactions. Deferred tax is provided on the possibility of the reversal in the future of short term timing differences for accounting and taxation purposes.

The company makes an estimate of the recoverability of trade debtors and other debtors and this takes into account, the credit rating of the debtor, the ageing profile of the debtor and historical experience. Where management consider a provision is necessary then a specific provision is made.
8 months ended 31 March
3 Analysis of turnover 2024 2023
£ £
Sale of goods 16,384,688 13,072,532
By geographical market:
UK 16,384,688 13,072,532
8 months ended 31 March
4 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 345,657 146,815
Depreciation of assets held under finance leases and hire purchase contracts 97,414 39,283
Auditors' remuneration for audit services 14,500 17,500
Carrying amount of stock sold 8,148,219 6,405,739
8 months ended 31 March
5 Directors' emoluments 2024 2023
£ £
Highest paid director:
Emoluments 111,205 74,137
Company contributions to defined contribution pension plans 1,320 880
112,525 75,017
Number of directors to whom retirement benefits accrued: 2024 2023
Number Number
Defined contribution plans 2 1
8 months ended 31 March
6 Staff costs 2024 2023
£ £
Wages and salaries 4,023,271 3,056,402
Social security costs 364,494 286,909
Other pension costs 73,254 51,521
4,461,019 3,394,832
Average number of employees during the year Number Number
Administration 13 12
Manufacturing 128 138
Marketing 5 5
146 155
8 months ended 31 March
7 Interest payable 2024 2023
£ £
Bank loans and overdrafts 177,491 85,911
Finance charges payable under finance leases and hire purchase contracts 13,080 5,949
190,571 91,860
8 months ended 31 March
8 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 177,819 35,326
Deferred tax:
Origination and reversal of timing differences (53,566) 162,877
Tax on profit on ordinary activities 124,253 198,203
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 616,350 625,553
Standard rate of corporation tax in the UK 25% 19%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 154,088 118,855
Effects of:
Expenses not deductible for tax purposes 12,039 13,425
Capital allowances for period in excess of depreciation 56,692 (62,526)
Group rellief (45,000) (34,428)
Deferred tax adjustments to tax charge in respect of previous periods (53,566) 162,877
Tax charge for period 124,253 198,203
Factors that may affect future tax charges
None
9 Tangible fixed assets
Land and buildings Plant and machinery Motor Vehicles Total
At cost At cost
or valuation
At cost
£ £ £ £
Cost or valuation
At 1 April 2023 459,098 4,493,605 1,195,182 6,147,885
Additions 45,258 110,725 82,023 238,006
Disposals - - (91,531) (91,531)
At 31 March 2024 504,356 4,604,330 1,185,674 6,294,360
Depreciation
At 1 April 2023 299,645 2,884,903 573,991 3,758,539
Charge for the year 26,551 262,177 154,343 443,071
On disposals - - (87,267) (87,267)
At 31 March 2024 326,196 3,147,080 641,067 4,114,343
Carrying amount
At 31 March 2024 178,160 1,457,250 544,607 2,180,017
At 31 March 2023 159,453 1,608,702 621,191 2,389,346
Certain classes of plant and machinery were revalued in July 2015 by the directors of the company on the basis of replacement cost
2024 2023
£ £
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts 305,645 461,792
10 Stocks 2024 2023
£ £
Raw materials and consumables 610,528 559,673
Finished goods and goods for resale 996,587 1,478,146
1,607,115 2,037,819
11 Debtors 2024 2023
£ £
Trade debtors 3,537,154 5,491,178
Amounts owed by group undertakings and undertakings in which the company has a participating interest 5,731,099 4,201,099
Other debtors 249,404 209,129
Prepayments and accrued income 567,882 499,725
10,085,539 10,401,131
12 Creditors: amounts falling due within one year 2024 2023
£ £
Bank overdrafts 2,472,499 3,207,832
Obligations under finance lease and hire purchase contracts 93,164 136,743
Trade creditors 1,698,014 2,223,929
Corporation tax 219,585 65,866
Other taxes and social security costs 74,378 89,138
Other creditors 97,638 234,079
Accruals and deferred income 70,957 57,386
4,726,235 6,014,973
13 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 143,583 188,792
14 Obligations under finance leases and hire purchase 2024 2023
contracts £ £
Amounts payable:
Within one year 93,164 136,743
Within two to five years 143,583 188,792
236,747 325,535
The hire purchase agreements are secured on the assets to which they relate
15 Deferred taxation 2024 2023
£ £
Accelerated capital allowances 457,394 510,960
2024 2023
£ £
At 1 April 510,960 348,083
(Credited)/charged to the profit and loss account (53,566) 162,877
At 31 March 457,394 510,960
16 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 29,232 29,232 29,232
17 Share premium 2024 2023
£ £
At 1 April 298 298
At 31 March 298 298
18 Other reserves 2024 2023
Revaluation reserve £ £
At 1 April 51,000 51,000
At 31 March 51,000 51,000
19 Profit and loss account 2024 2023
£ £
At 1 April 8,424,150 7,996,800
Profit for the financial year 492,097 427,350
At 31 March 8,916,247 8,424,150
20 Other financial commitments
Total future minimum lease payments under non-cancellable operating leases:
Land and buildings Land and buildings Other Other
2024 2023 2024 2023
£ £ £ £
Falling due:
within two to five years 280,000 345,000 - -
in over five years 984,444 1,312,592 - -
1,264,444 1,657,592 - -
21 Controlling party
The immediate controlling party is Newable Atkinson Limited, a company incorporated in England & Wales. The ultimate controlling party is Newable Partnership Limited, a company incorporated in England & Wales.
22 Presentation currency
The financial statements are presented in Sterling.
23 Legal form of entity and country of incorporation
J.C. Atkinson and Son Limited is a private company limited by shares and incorporated in England.
24 Principal place of business
The address of the company's principal place of business and registered office is:
Unit 1, Sedling Road
Wear Industrial Estate (East)
Washington
Tyne & Wear
NE38 9BZ
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