J.A.WYARD LIMITED

Company Registration Number:
00708429 (England and Wales)

Unaudited abridged accounts for the year ended 29 March 2024

Period of accounts

Start date: 30 March 2023

End date: 29 March 2024

J.A.WYARD LIMITED

Contents of the Financial Statements

for the Period Ended 29 March 2024

Balance sheet
Notes

J.A.WYARD LIMITED

Balance sheet

As at 29 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 76,426 64,513
Total fixed assets: 76,426 64,513
Current assets
Stocks: 4,826 5,826
Debtors:   109,218 131,655
Cash at bank and in hand: 349,114 436,117
Total current assets: 463,158 573,598
Creditors: amounts falling due within one year:   (140,930) (209,200)
Net current assets (liabilities): 322,228 364,398
Total assets less current liabilities: 398,654 428,911
Creditors: amounts falling due after more than one year:   (30,333) (37,098)
Provision for liabilities: (17,036) (9,426)
Total net assets (liabilities): 351,285 382,387
Capital and reserves
Called up share capital: 1,100 1,100
Other reserves: 16,076 16,076
Profit and loss account: 334,109 365,211
Shareholders funds: 351,285 382,387

The notes form part of these financial statements

J.A.WYARD LIMITED

Balance sheet statements

For the year ending 29 March 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 December 2024
and signed on behalf of the board by:

Name: Mr J J Wood
Status: Director

The notes form part of these financial statements

J.A.WYARD LIMITED

Notes to the Financial Statements

for the Period Ended 29 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services net of VAT.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computer equipment 33% straight line Motor vehicles 20% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Valuation and information policy

Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Stock Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials.

Other accounting policies

Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors, bank loan and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

J.A.WYARD LIMITED

Notes to the Financial Statements

for the Period Ended 29 March 2024

2. Employees

2024 2023
Average number of employees during the period 17 14

J.A.WYARD LIMITED

Notes to the Financial Statements

for the Period Ended 29 March 2024

3. Tangible Assets

Total
Cost £
At 30 March 2023 283,393
Additions 36,480
At 29 March 2024 319,873
Depreciation
At 30 March 2023 218,880
Charge for year 24,567
At 29 March 2024 243,447
Net book value
At 29 March 2024 76,426
At 29 March 2023 64,513

J.A.WYARD LIMITED

Notes to the Financial Statements

for the Period Ended 29 March 2024

4. Financial commitments

The company had total financial commitments amounting to £5,514 (2023- £12,867).

J.A.WYARD LIMITED

Notes to the Financial Statements

for the Period Ended 29 March 2024

5. Related party transactions

Name of the related party:
Relationship:
Related party companies
Description of the Transaction: At the balance sheet date, £23,596 (2023 - £63,684) was owed to related party companies respectively. The unsecured loans are free of any interest charge and are without any repayment terms.
£
Balance at 30 March 2023 63,684
Balance at 29 March 2024 23,596