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COMPANY REGISTRATION NUMBER: 04039945
Jefford & Co. Limited
Filleted Unaudited Financial Statements
30 September 2024
Jefford & Co. Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
Jefford & Co. Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
294,123
347,655
Investments
6
3,320,119
3,320,119
------------
------------
3,614,242
3,667,774
Current assets
Stocks
78,125
17,248
Debtors
7
288,834
287,613
Cash at bank and in hand
2,182,154
1,656,357
------------
------------
2,549,113
1,961,218
Creditors: amounts falling due within one year
8
( 378,574)
( 384,331)
------------
------------
Net current assets
2,170,539
1,576,887
------------
------------
Total assets less current liabilities
5,784,781
5,244,661
Provisions
Taxation including deferred tax
( 8,104)
( 10,499)
------------
------------
Net assets
5,776,677
5,234,162
------------
------------
Jefford & Co. Limited
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
500
500
Profit and loss account
5,776,177
5,233,662
------------
------------
Shareholders funds
5,776,677
5,234,162
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 December 2024 , and are signed on behalf of the board by:
Mr J Jefford
Director
Company registration number: 04039945
Jefford & Co. Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 33 Herbert Road, Hornchurch, Essex, RM11 3LH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents the value of goods and services provided during the year, exclusive of Value Added Tax.
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: * deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
Amortised over the term of the lease
Plant & Equipment
-
20% reducing balance
Motor Vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Long leasehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
517,867
18,044
47,420
583,331
---------
--------
--------
---------
Depreciation
At 1 October 2023
212,393
15,380
7,903
235,676
Charge for the year
43,120
533
9,879
53,532
---------
--------
--------
---------
At 30 September 2024
255,513
15,913
17,782
289,208
---------
--------
--------
---------
Carrying amount
At 30 September 2024
262,354
2,131
29,638
294,123
---------
--------
--------
---------
At 30 September 2023
305,474
2,664
39,517
347,655
---------
--------
--------
---------
6. Investments
Investment Property
£
Cost
At 1 October 2023 and 30 September 2024
3,320,119
------------
Impairment
At 1 October 2023 and 30 September 2024
------------
Carrying amount
At 30 September 2024
3,320,119
------------
At 30 September 2023
3,320,119
------------
7. Debtors
2024
2023
£
£
Trade debtors
273,890
255,095
Other debtors
14,944
32,518
---------
---------
288,834
287,613
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
100,703
70,805
Corporation tax
208,915
225,498
Social security and other taxes
31,474
37,317
Other creditors
37,482
50,711
---------
---------
378,574
384,331
---------
---------