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Registration number: 09389120

CJ Jerman Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

CJ Jerman Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5 to 6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

CJ Jerman Limited

Company Information

Directors

Mr Christopher John Jerman

Mrs Caroline Ann Jerman

Registered office

The Ridge
Chirbury
Montgomery
Powys
SY15 6DD

Accountants

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

 

CJ Jerman Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Christopher John Jerman

Mrs Caroline Ann Jerman

Principal activity

The principal activity of the company is farming

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 7 January 2025 and signed on its behalf by:

.........................................
Mr Christopher John Jerman
Director

.........................................
Mrs Caroline Ann Jerman
Director

 
     
 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CJ Jerman Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CJ Jerman Limited for the year ended 30 April 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

We have not been instructed to carry out an audit or a review of the accounts of CJ Jerman Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

7 January 2025

 

CJ Jerman Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

339,217

373,804

Cost of sales

 

(113,414)

(121,518)

Gross profit

 

225,803

252,286

Administrative expenses

 

(215,768)

(192,889)

Operating profit

 

10,035

59,397

Profit before tax

4

10,035

59,397

Taxation

 

(4,796)

(5,731)

Profit for the financial year

 

5,239

53,666

Retained earnings brought forward

 

318,681

266,073

Restatements of retained earnings

 

-

(908)

Retained earnings carried forward

 

323,920

318,831

 

CJ Jerman Limited

(Registration number: 09389120)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

69,562

66,562

Tangible assets

6

447,234

406,080

Investment property

-

15,910

 

516,796

488,552

Current assets

 

Stocks

134,680

102,505

Debtors

21,539

15,195

Cash at bank and in hand

 

26,943

-

 

183,162

117,700

Creditors: Amounts falling due within one year

(308,306)

(214,515)

Net current liabilities

 

(125,144)

(96,815)

Total assets less current liabilities

 

391,652

391,737

Creditors: Amounts falling due after more than one year

(21,600)

(31,570)

Provisions for liabilities

(45,132)

(40,336)

Net assets

 

324,920

319,831

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

323,920

318,831

Shareholders' funds

 

324,920

319,831

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 7 January 2025 and signed on its behalf by:
 

 

CJ Jerman Limited

(Registration number: 09389120)
Balance Sheet as at 30 April 2024

.........................................
Mr Christopher John Jerman
Director

.........................................
Mrs Caroline Ann Jerman
Director

 
     
 

CJ Jerman Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

1,000

318,681

319,681

Profit for the year

-

5,239

5,239

At 30 April 2024

1,000

323,920

324,920

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

1,000

266,073

267,073

Prior period adjustment

-

(908)

(908)

At 1 May 2022 (As restated)

1,000

265,165

266,165

Profit for the year

-

53,666

53,666

At 30 April 2023

1,000

318,831

319,831

 

CJ Jerman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Ridge
Chirbury
Montgomery
Powys
SY15 6DD

These financial statements were authorised for issue by the Board on 7 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

CJ Jerman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

CJ Jerman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

46,706

27,909

 

CJ Jerman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Intangible assets

Dairy herd
£

Total
£

Cost or valuation

At 1 May 2023

66,562

66,562

Additions

3,000

3,000

At 30 April 2024

69,562

69,562

Amortisation

Carrying amount

At 30 April 2024

69,562

69,562

At 30 April 2023

66,562

66,562

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

209,697

498,966

708,663

Additions

-

76,950

76,950

Disposals

-

(5,200)

(5,200)

At 30 April 2024

209,697

570,716

780,413

Depreciation

At 1 May 2023

-

286,673

286,673

Charge for the year

-

50,834

50,834

Eliminated on disposal

-

(4,328)

(4,328)

At 30 April 2024

-

333,179

333,179

Carrying amount

At 30 April 2024

209,697

237,537

447,234

At 30 April 2023

193,787

212,293

406,080

Included within the net book value of land and buildings above is £209,697 (2023 - £193,787) in respect of freehold land and buildings.
 

7

Share capital

Allotted, called up and fully paid shares

 

CJ Jerman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each

501

501

501

501

Ordinary B shares of £1 each

499

499

499

499

 

1,000

1,000

1,000

1,000