REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 4 April 2024 |
for |
N.Jackson Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 4 April 2024 |
for |
N.Jackson Limited |
N.Jackson Limited (Registered number: 00528685) |
Contents of the Financial Statements |
for the Year Ended 4 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
N.Jackson Limited |
Company Information |
for the Year Ended 4 April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Reedham House |
31 King Street West |
Manchester |
M3 2PJ |
N.Jackson Limited (Registered number: 00528685) |
Balance Sheet |
4 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
N.Jackson Limited (Registered number: 00528685) |
Balance Sheet - continued |
4 April 2024 |
The financial statements were approved by the director and authorised for issue on |
N.Jackson Limited (Registered number: 00528685) |
Notes to the Financial Statements |
for the Year Ended 4 April 2024 |
1. | STATUTORY INFORMATION |
N.Jackson Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings - 20% on reducing balance |
No depreciation is provided on the freehold property as it is the policy of the company to regularly maintain and repair the property such that its expected residual value is greater than cost. The director considers the estimated useful life of the freehold property to be 50 years. |
Tangible fixed assets are initially recorded at cost less any tax, discounts and rebates. Subsequently they are recorded at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
N.Jackson Limited (Registered number: 00528685) |
Notes to the Financial Statements - continued |
for the Year Ended 4 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The company's financial statements for the year ended 4 April 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 5 April 2023 |
and 4 April 2024 |
DEPRECIATION |
At 5 April 2023 |
Charge for year |
At 4 April 2024 |
NET BOOK VALUE |
At 4 April 2024 |
At 4 April 2023 |
Cost or valuation at 4 April 2024 is represented by: |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Valuation in 2017 | 122,000 | - | 122,000 |
Valuation in 2019 | (5,000 | ) | - | (5,000 | ) |
Cost | 8,000 | 1,444 | 9,444 |
125,000 | 1,444 | 126,444 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 8,000 | 8,000 |
The freehold property was valued on an open market basis on 30 June 2019 by WT Gunson, Chartered Surveyors . |
N.Jackson Limited (Registered number: 00528685) |
Notes to the Financial Statements - continued |
for the Year Ended 4 April 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
The director considers the market value of the freehold property not to be materially different from the value stated in the financial statements as at 4 April 2024. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 5 April 2023 |
and 4 April 2024 |
8. | RELATED PARTY DISCLOSURES |
Included within other debtors is a balance amounting to of £30,001 (2023: £30,094) due from a company in which the director of the company is also a director and shareholder. There are no fixed repayment terms and no interest is chargeable by the company in respect of this balance. |
Included within other debtors is a balance amounting to £18,389 (2023: £19,103) due from an ex-shareholder of the company. Interest amounting to £434 has been charged during the year in respect of this balance. |