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No description of principal activities is disclosed
2023-05-01
Sage Accounts Production 21.0 - FRS102_2021
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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
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Directors |
Mr R W Jones |
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Mr M D H Glover |
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Company number |
06868787 |
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Registered office |
27 Derby Road |
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Long Eaton |
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Nottingham |
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NG10 1LU |
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Business address |
27 Derby Road |
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Long Eaton |
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Nottingham |
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NG10 1LU |
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Accountants |
C J Lucking & Co |
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34 Cross Street |
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Long Eaton |
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Nottingham |
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NG10 1HD |
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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
|
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2024 |
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2023 |
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Note |
£ |
|
£ |
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£ |
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£ |
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|
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|
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|
|
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|
Fixed assets |
|
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|
|
|
|
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Intangible assets |
|
5 |
- |
|
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|
- |
|
|
Tangible assets |
|
6 |
7,462 |
|
|
|
332 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
7,462 |
|
|
|
332 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
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Debtors |
|
7 |
177,612 |
|
|
|
173,894 |
|
|
Cash at bank and in hand |
|
|
105,526 |
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|
76,751 |
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|
|
|
|
_______ |
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|
_______ |
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283,138 |
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|
250,645 |
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Creditors: amounts falling due |
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|
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|
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|
within one year |
|
8 |
(
126,305) |
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|
|
(
86,308) |
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|
|
|
|
_______ |
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|
_______ |
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Net current assets |
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156,833 |
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|
164,337 |
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|
_______ |
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_______ |
Total assets less current liabilities |
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164,295 |
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164,669 |
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_______ |
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_______ |
Net assets |
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164,295 |
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164,669 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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|
100 |
Profit and loss account |
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164,195 |
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164,569 |
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_______ |
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_______ |
Shareholders funds |
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164,295 |
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164,669 |
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_______ |
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_______ |
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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:
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Goodwill |
- |
20 % |
straight line |
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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:
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Fittings fixtures and equipment |
- |
25 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
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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
|
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Goodwill |
Total |
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£ |
£ |
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|
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Cost |
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At 1 May 2023 and 30 April 2024 |
157,000 |
157,000 |
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_______ |
_______ |
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Amortisation |
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At 1 May 2023 and 30 April 2024 |
157,000 |
157,000 |
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|
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|
_______ |
_______ |
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|
Carrying amount |
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At 30 April 2024 |
- |
- |
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_______ |
_______ |
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At 30 April 2023 |
- |
- |
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_______ |
_______ |
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6.
Tangible assets
|
|
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
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|
At 1 May 2023 |
39,875 |
5,900 |
45,775 |
|
|
|
|
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Additions |
- |
9,950 |
9,950 |
|
|
|
|
|
Disposals |
- |
(
5,900) |
(
5,900) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
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At 30 April 2024 |
39,875 |
9,950 |
49,825 |
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|
|
|
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_______ |
_______ |
_______ |
|
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Depreciation |
|
|
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|
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At 1 May 2023 |
39,875 |
5,568 |
45,443 |
|
|
|
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|
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 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
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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 |
|
|
|
_______ |
_______ |
|
|
|
|
|