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REGISTERED NUMBER: 02742572 (England and Wales)















S & J IRVING COMPRESSORS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S & J IRVING COMPRESSORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: A M Kendall
D P Schofield



REGISTERED OFFICE: Units 9 & 10
Woolfold Industrial Estate
Mitchell Street
Bury
BL8 1SF



REGISTERED NUMBER: 02742572 (England and Wales)



ACCOUNTANTS: DJH Bury Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN



BANKERS: Barclays Bank plc
1 Central Street
The Rock
Bury
Lancashire
BL9 0JN



SOLICITORS: Derek Smith & Co
20 Great Moor Street
Bolton
Lancashire
BL1 1NR

S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
(As
restated)
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 57,058 125,863
Investments 6 10,000 10,000
67,058 135,863

CURRENT ASSETS
Inventories 25,500 16,525
Debtors 7 1,948,932 1,817,396
Cash at bank and in hand 1,883,956 1,452,024
3,858,388 3,285,945
CREDITORS
Amounts falling due within one year 8 (304,963 ) (191,902 )
NET CURRENT ASSETS 3,553,425 3,094,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,620,483

3,229,906

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 942,812 859,094
Retained earnings 2,677,571 2,370,712
SHAREHOLDERS' FUNDS 3,620,483 3,229,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:





A M Kendall - Director


S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

S & J Irving Compressors Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02742572 and the registered office is Units 9 & 10 Woolfold Industrial Estate, Mitchell Street, Bury, BL8 1SF.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements.

Revenue
Revenue comprises the aggregate of the fair value of the sale of goods and services provided, net of value-added tax, rebates and discounts.

Sale of goods are recognised when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly stated.

Service revenues are recognised as those services are provided to customers.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost represents the actual purchase price.

S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and a funded unapproved retirement benefit scheme. Contributions payable are charged to the income statement in the period to which they relate.

Employee benefit trusts
During previous years the company has contributed to discretionary trusts for the benefit of the families of all of its officers and employees (the Employee Benefit Trusts or EBTs). The company includes the assets and liabilities of its EBTs on its statement of financial position to the extent that it considers that it will retain economic benefit from the assets of the EBTs or will have control of the rights or other access to those present economic benefits.

Where the company has retained future economic benefit from and has de facto control of the assets and liabilities of the trusts, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trusts vest in identified individuals.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the
company.

S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments held as fixed assets are stated at cost together with subsequent capital contributions, less any provisions for impairment in value.

Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the fixed asset investment.

Leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 10,000
AMORTISATION
At 1 October 2023
and 30 September 2024 10,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 October 2023 203,848
Disposals (67,330 )
At 30 September 2024 136,518
DEPRECIATION
At 1 October 2023 77,985
Charge for year 18,308
Eliminated on disposal (16,833 )
At 30 September 2024 79,460
NET BOOK VALUE
At 30 September 2024 57,058
At 30 September 2023 125,863

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 10,000
NET BOOK VALUE
At 30 September 2024 10,000
At 30 September 2023 10,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(As
restated)
£    £   
Trade debtors 373,027 287,376
Other debtors 1,575,905 1,530,020
1,948,932 1,817,396

Included within debtors falling due within one year is an amount of £942,812 (2023: £1,059,094) held in discretionary trusts which were established for the benefit of the families of all of the company's officers and employees.

S & J IRVING COMPRESSORS LIMITED (REGISTERED NUMBER: 02742572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(As
restated)
£    £   
Trade creditors 93,099 58,313
Taxation and social security 202,846 131,089
Other creditors 9,018 2,500
304,963 191,902

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
(As
restated)
£    £   
Within one year 15,000 15,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the end of the prior year, there was an overdrawn director's loan account balance of £99,950 owed by S E Irving. This advance was unsecured and interest free, and has been fully repaid during the current year.

11. PRIOR YEAR ADJUSTMENT

In error, the prior year figures included a brought forward Employee Benefit Trust balance of £200,000 (reflected in debtors and other reserves). This policy had been fully settled in an earlier period and should have been removed from the financial statements. The correction has not impacted on the reported profit.