Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31Manufacturer of Kitchen Furniture2023-04-01false74truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11808434 2023-04-01 2024-03-31 11808434 2022-04-01 2023-03-31 11808434 2024-03-31 11808434 2023-03-31 11808434 c:Director2 2023-04-01 2024-03-31 11808434 d:PlantMachinery 2023-04-01 2024-03-31 11808434 d:PlantMachinery 2024-03-31 11808434 d:PlantMachinery 2023-03-31 11808434 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11808434 d:MotorVehicles 2023-04-01 2024-03-31 11808434 d:MotorVehicles 2024-03-31 11808434 d:MotorVehicles 2023-03-31 11808434 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11808434 d:FurnitureFittings 2023-04-01 2024-03-31 11808434 d:FurnitureFittings 2024-03-31 11808434 d:FurnitureFittings 2023-03-31 11808434 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11808434 d:ComputerEquipment 2023-04-01 2024-03-31 11808434 d:ComputerEquipment 2024-03-31 11808434 d:ComputerEquipment 2023-03-31 11808434 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11808434 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11808434 d:Goodwill 2023-04-01 2024-03-31 11808434 d:Goodwill 2024-03-31 11808434 d:Goodwill 2023-03-31 11808434 d:CurrentFinancialInstruments 2024-03-31 11808434 d:CurrentFinancialInstruments 2023-03-31 11808434 d:Non-currentFinancialInstruments 2024-03-31 11808434 d:Non-currentFinancialInstruments 2023-03-31 11808434 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11808434 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11808434 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11808434 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11808434 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11808434 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11808434 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 11808434 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11808434 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 11808434 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 11808434 d:ShareCapital 2024-03-31 11808434 d:ShareCapital 2023-03-31 11808434 d:RetainedEarningsAccumulatedLosses 2024-03-31 11808434 d:RetainedEarningsAccumulatedLosses 2023-03-31 11808434 c:FRS102 2023-04-01 2024-03-31 11808434 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11808434 c:FullAccounts 2023-04-01 2024-03-31 11808434 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11808434 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 11808434 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 11808434 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 11808434 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 11808434 2 2023-04-01 2024-03-31 11808434 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 11808434 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11808434










JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
REGISTERED NUMBER: 11808434

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
2,400

Tangible assets
 5 
97,089
141,272

  
97,089
143,672

Current assets
  

Debtors: amounts falling due within one year
 6 
62,005
35,674

Cash at bank and in hand
 7 
22,720
17,843

  
84,725
53,517

Creditors: amounts falling due within one year
 8 
(124,737)
(109,205)

Net current liabilities
  
 
 
(40,012)
 
 
(55,688)

Total assets less current liabilities
  
57,077
87,984

Creditors: amounts falling due after more than one year
 9 
(57,040)
(87,460)

  

Net assets
  
37
524


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
35
522

  
37
524


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
REGISTERED NUMBER: 11808434
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





................................................
Adelaide Glover
Director
Date: 30 December 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Jacob Alexander Cabinet Makers Ltd (formerly Glover Cabinet Makers Limited) is a private company, limited by shares. The company is registered in England and Wales and domiciled in the UK. The address of the registered office is Unit 1 Gardner Industrial Estate, Kent House Lane, Beckenham BR3 1QZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Reducing balance
Motor vehicles
-
25%
Straight line
Fixtures and fittings
-
20%
Straight line
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 7 (2023 - 4).

Page 5

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
12,000



At 31 March 2024

12,000



Amortisation


At 1 April 2023
9,600


Charge for the period on owned assets
2,400



At 31 March 2024

12,000



Net book value



At 31 March 2024
-



At 31 March 2023
2,400



Page 6

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
232,011
30,000
12,861
1,974
276,846


Additions
7,699
-
-
-
7,699



At 31 March 2024

239,710
30,000
12,861
1,974
284,545



Depreciation


At 1 April 2023
107,813
22,500
4,255
1,006
135,574


Charge for the period on owned assets
41,473
7,500
2,415
494
51,882



At 31 March 2024

149,286
30,000
6,670
1,500
187,456



Net book value



At 31 March 2024
90,424
-
6,191
474
97,089



At 31 March 2023
124,198
7,500
8,606
968
141,272

The net book value of assets held under finance leases at the balance sheet date was £87,923 (2023: £124,099).


6.


Debtors

2024
2023
£
£


Trade debtors
19,182
15,945

Other debtors
26,348
9,081

Prepayments and accrued income
10,648
10,648

Tax recoverable
5,827
-

62,005
35,674


Page 7

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,720
17,843

22,720
17,843



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,741
5,599

Trade creditors
38,021
31,967

Corporation tax
5,827
-

Other taxation and social security
42,273
14,614

Obligations under finance lease and hire purchase contracts
27,400
37,638

Other creditors
2,525
16,437

Accruals and deferred income
2,950
2,950

124,737
109,205



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
32,056
37,710

Net obligations under finance leases and hire purchase contracts
24,984
49,750

57,040
87,460


Page 8

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,741
5,599


5,741
5,599

Amounts falling due 1-2 years

Bank loans
5,886
5,741


5,886
5,741

Amounts falling due 2-5 years

Bank loans
18,566
18,108


18,566
18,108

Amounts falling due after more than 5 years

Bank loans
7,604
13,861

7,604
13,861

37,797
43,309



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
27,400
37,638

Between 1-5 years
24,983
49,750

52,383
87,388

Page 9

 
JACOB ALEXANDER CABINET MAKERS LTD (FORMERLY GLOVER CABINET MAKERS LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

12.


Pension commitments

The company contributes to a defined contributions pension scheme. Contributions to the scheme made during the period totalled £4,930 (2023 - £2,531). The unpaid pension contribution at the end of the year iwas £2.341. (2023 - £479).


13.


Related party transactions

At the balance sheet date the following amounts were owed to the company (2023 - owed by the company to the directors ) from the directors below:


2024
2023
£
£

Jacob Lomas
6,293
3,345
Adelaide Glover
10,975
11,614
17,268
14,959

 
Page 10