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Company registration number: 06868787
Wallace Jones (Stapleford) Limited
Trading as Wallace Jones
Unaudited filleted financial statements
30 April 2024
Wallace Jones (Stapleford) Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Wallace Jones (Stapleford) Limited
Directors and other information
Directors Mr R W Jones
Mr M D H Glover
Company number 06868787
Registered office 27 Derby Road
Long Eaton
Nottingham
NG10 1LU
Business address 27 Derby Road
Long Eaton
Nottingham
NG10 1LU
Accountants C J Lucking & Co
34 Cross Street
Long Eaton
Nottingham
NG10 1HD
Wallace Jones (Stapleford) Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Wallace Jones (Stapleford) Limited
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 financial statements of Wallace Jones (Stapleford) Limited for the year ended 30 April 2024 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Wallace Jones (Stapleford) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wallace Jones (Stapleford) Limited and state those matters that we have agreed to state to the board of directors of Wallace Jones (Stapleford) Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wallace Jones (Stapleford) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Wallace Jones (Stapleford) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wallace Jones (Stapleford) Limited. You consider that Wallace Jones (Stapleford) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Wallace Jones (Stapleford) 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 financial statements.
C J Lucking & Co
Chartered Accountants
34 Cross Street
Long Eaton
Nottingham
NG10 1HD
28 January 2025
Wallace Jones (Stapleford) Limited
Balance sheet
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 7,462 332
_______ _______
7,462 332
Current assets
Debtors 7 177,612 173,894
Cash at bank and in hand 105,526 76,751
_______ _______
283,138 250,645
Creditors: amounts falling due
within one year 8 ( 126,305) ( 86,308)
_______ _______
Net current assets 156,833 164,337
_______ _______
Total assets less current liabilities 164,295 164,669
_______ _______
Net assets 164,295 164,669
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 164,195 164,569
_______ _______
Shareholders funds 164,295 164,669
_______ _______
For the 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 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 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 Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
Mr R W Jones
Director
Company registration number: 06868787
Wallace Jones (Stapleford) Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Wallace Jones, 27 Derby Road, Long Eaton, Nottingham, NG10 1LU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at fair value of the consideration received or receivable for services rendered, net of discounts and value added tax. Revenue from the provision of services is recognised at the time when the work is carried out unless there is reason to believe that the work cannot be charged for.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account. Current tax is recogised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax would be recognised in respect of any timing differences at the reporting date if any existed.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are 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:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
Debtors do not carry any interest and are stated at their nominal value.Trade creditors are not interest bearing and are stated at their nominal value.Bank loans are recognised such that the interest charged to the profit and loss account is proportionate to the amount outstanding.
Defined contribution plans
The pension charge represents payments made into the NEST defined contribution pension scheme as a result of auto-enrolment legislation.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 9 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 May 2023 and 30 April 2024 157,000 157,000
_______ _______
Amortisation
At 1 May 2023 and 30 April 2024 157,000 157,000
_______ _______
Carrying amount
At 30 April 2024 - -
_______ _______
At 30 April 2023 - -
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 May 2023 39,875 5,900 45,775
Additions - 9,950 9,950
Disposals - ( 5,900) ( 5,900)
_______ _______ _______
At 30 April 2024 39,875 9,950 49,825
_______ _______ _______
Depreciation
At 1 May 2023 39,875 5,568 45,443
Charge for the year - 2,488 2,488
Disposals - ( 5,568) ( 5,568)
_______ _______ _______
At 30 April 2024 39,875 2,488 42,363
_______ _______ _______
Carrying amount
At 30 April 2024 - 7,462 7,462
_______ _______ _______
At 30 April 2023 - 332 332
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 420 300
Other debtors 177,192 173,594
_______ _______
177,612 173,894
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 37,496 42,705
Corporation tax 6,242 8,664
Social security and other taxes 13,605 16,783
Other creditors 68,962 18,156
_______ _______
126,305 86,308
_______ _______