Registered number
11918765
JAB Agricultural Contractors Limited
Filleted Accounts
30 April 2024
Lynden Consultancy Limited
Accountants
Lynden
Catton
Thirsk
North Yorkshire
YO7 4SH
JAB Agricultural Contractors Limited
Registered number: 11918765
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 61,467 50,458
Current assets
Stocks 5,500 5,500
Debtors 4 8,060 7,749
Cash at bank and in hand 11,330 1,452
24,890 14,701
Creditors: amounts falling due within one year 5 (34,534) (20,597)
Net current liabilities (9,644) (5,896)
Total assets less current liabilities 51,823 44,562
Creditors: amounts falling due after more than one year 6 (30,990) (44,166)
Net assets 20,833 396
Capital and reserves
Called up share capital 1 1
Profit and loss account 20,832 395
Shareholder's funds 20,833 396
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J A Barningham-Hayton
Director
Approved by the board on 31 October 2024
JAB Agricultural Contractors Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 68,658
Additions 21,857
At 30 April 2024 90,515
Depreciation
At 1 May 2023 18,200
Charge for the year 10,848
At 30 April 2024 29,048
Net book value
At 30 April 2024 61,467
At 30 April 2023 50,458
4 Debtors 2024 2023
£ £
Trade debtors 7,793 7,749
CIS Tax 267 -
8,060 7,749
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 386 107
Trade creditors 14,338 4,912
Taxation and social security costs 3,855 (143)
Other creditors 15,955 15,721
34,534 20,597
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,405 16,662
Obligations under finance lease and hire purchase contracts 18,585 27,504
30,990 44,166
7 Other information
JAB Agricultural Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Winn Lane Farm
Long Street
Topcliffe
N Yorkshire
YO7 3RW
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