18 18 Jeremy Rogers Limited 04167238 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of boat design and manufacture. Digita Accounts Production Advanced 6.30.9574.0 true 04167238 2023-05-01 2024-04-30 04167238 2024-04-30 04167238 core:CurrentFinancialInstruments 2024-04-30 04167238 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 04167238 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 04167238 core:FurnitureFittings 2024-04-30 04167238 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 04167238 core:MotorVehicles 2024-04-30 04167238 core:OfficeEquipment 2024-04-30 04167238 core:PlantMachinery 2024-04-30 04167238 bus:SmallEntities 2023-05-01 2024-04-30 04167238 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04167238 bus:FilletedAccounts 2023-05-01 2024-04-30 04167238 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04167238 bus:RegisteredOffice 2023-05-01 2024-04-30 04167238 bus:Director3 2023-05-01 2024-04-30 04167238 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 04167238 bus:OrdinaryShareClass4 2023-05-01 2024-04-30 04167238 bus:OrdinaryShareClass5 2023-05-01 2024-04-30 04167238 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04167238 bus:Agent1 2023-05-01 2024-04-30 04167238 core:Goodwill 2023-05-01 2024-04-30 04167238 core:FurnitureFittings 2023-05-01 2024-04-30 04167238 core:LandBuildings 2023-05-01 2024-04-30 04167238 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04167238 core:MotorCars 2023-05-01 2024-04-30 04167238 core:MotorVehicles 2023-05-01 2024-04-30 04167238 core:OfficeEquipment 2023-05-01 2024-04-30 04167238 core:PlantMachinery 2023-05-01 2024-04-30 04167238 countries:AllCountries 2023-05-01 2024-04-30 04167238 2023-04-30 04167238 core:FurnitureFittings 2023-04-30 04167238 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 04167238 core:MotorVehicles 2023-04-30 04167238 core:OfficeEquipment 2023-04-30 04167238 core:PlantMachinery 2023-04-30 04167238 2022-05-01 2023-04-30 04167238 2023-04-30 04167238 core:CurrentFinancialInstruments 2023-04-30 04167238 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04167238 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 04167238 core:FurnitureFittings 2023-04-30 04167238 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 04167238 core:MotorVehicles 2023-04-30 04167238 core:OfficeEquipment 2023-04-30 04167238 core:PlantMachinery 2023-04-30 04167238 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 04167238 bus:OrdinaryShareClass4 2022-05-01 2023-04-30 04167238 bus:OrdinaryShareClass5 2022-05-01 2023-04-30 xbrli:pure iso4217:GBP

Registration number: 04167238

Jeremy Rogers Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Jeremy Rogers Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Jeremy Rogers Limited

Company Information

Director

Mr CT Rogers

Registered office

Lymington Yacht Haven
Kings Saltern Road
Lymington
Hampshire
SO41 3QD

Accountants

Pyatt & Pyatt
Chartered Certified Accountants36 St Thomas Street
Lymington
Hampshire
SO41 9NE

 

Jeremy Rogers Limited

(Registration number: 04167238)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

77,992

96,834

Current assets

 

Stocks

6

414,850

445,178

Debtors

295,961

457,849

Cash at bank and in hand

 

142,282

181,047

 

853,093

1,084,074

Creditors: Amounts falling due within one year

(306,362)

(467,109)

Net current assets

 

546,731

616,965

Total assets less current liabilities

 

624,723

713,799

Creditors: Amounts falling due after more than one year

(45,454)

(67,272)

Accruals and deferred income

 

(1,500)

(1,350)

Net assets

 

577,769

645,177

Capital and reserves

 

Called up share capital

1,501

1,501

Other reserves

7,135

7,135

Retained earnings

569,133

636,541

Shareholders' funds

 

577,769

645,177

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Jeremy Rogers Limited

(Registration number: 04167238)
Abridged Balance Sheet as at 30 April 2024

Approved and authorised by the director on 20 January 2025
 

.........................................
Mr CT Rogers
Director

 

Jeremy Rogers Limited

Notes to the Unaudited Abridged 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 & Wales.

The address of its registered office is:
Lymington Yacht Haven
Kings Saltern Road
Lymington
Hampshire
SO41 3QD

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 abridged 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 abridged 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 current 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.

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

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.

 

Jeremy Rogers Limited

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

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

Land and buildings

5% straight line

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Jeremy Rogers Limited

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

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2023 - 18).

 

Jeremy Rogers Limited

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

4

Intangible assets

Total
£

Cost or valuation

At 1 May 2023

100,000

At 30 April 2024

100,000

Amortisation

At 1 May 2023

100,000

At 30 April 2024

100,000

Carrying amount

At 30 April 2024

-

 

Jeremy Rogers Limited

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

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

10,894

2,476

304,401

56,240

38,310

412,321

Additions

-

-

8,378

2,772

-

11,150

Disposals

-

-

-

(1,197)

-

(1,197)

At 30 April 2024

10,894

2,476

312,779

57,815

38,310

422,274

Depreciation

At 1 May 2023

8,175

1,818

241,786

46,947

16,761

315,487

Charge for the year

545

165

17,751

5,246

5,387

29,094

Eliminated on disposal

-

-

-

(299)

-

(299)

At 30 April 2024

8,720

1,983

259,537

51,894

22,148

344,282

Carrying amount

At 30 April 2024

2,174

493

53,242

5,921

16,162

77,992

At 30 April 2023

2,719

658

62,615

9,293

21,549

96,834

Included within the net book value of land and buildings above is £2,174 (2023 - £2,719) in respect of freehold land and buildings.
 

 

Jeremy Rogers Limited

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

6

Stocks

2024
£

2023
£

Other inventories

414,850

445,178

7

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £1,700.00 (2023 - £967.00) per each C Ordinary shares

 

170,000

 

96,700

Interim dividend of £Nil per each J Ordinary shares

 

-

 

-

Interim dividend of £137.9311 (2023 - £365.5171) per each F Ordinary shares

 

13,793

 

36,552

Interim dividend of £82,000.00 (2023 - 54,000.00) per each JI Ordinary shares

 

82,000

 

54,000

   

265,793

 

187,252

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,096

9,096

Contributions paid to money purchase schemes

24,000

24,000

33,096

33,096