11 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,001 10,001 10,001 xbrli:pure xbrli:shares iso4217:GBP 00755192 2023-02-01 2024-01-31 00755192 2024-01-31 00755192 2023-01-31 00755192 2022-02-01 2023-01-31 00755192 2023-01-31 00755192 2022-01-31 00755192 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00755192 core:FurnitureFittings 2023-02-01 2024-01-31 00755192 core:MotorVehicles 2023-02-01 2024-01-31 00755192 bus:RegisteredOffice 2023-02-01 2024-01-31 00755192 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 00755192 bus:Director1 2023-02-01 2024-01-31 00755192 bus:Director2 2023-02-01 2024-01-31 00755192 bus:Director3 2023-02-01 2024-01-31 00755192 bus:CompanySecretary1 2023-02-01 2024-01-31 00755192 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 00755192 core:FurnitureFittings 2023-01-31 00755192 core:MotorVehicles 2023-01-31 00755192 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 00755192 core:FurnitureFittings 2024-01-31 00755192 core:MotorVehicles 2024-01-31 00755192 core:WithinOneYear 2024-01-31 00755192 core:WithinOneYear 2023-01-31 00755192 core:AfterOneYear 2024-01-31 00755192 core:AfterOneYear 2023-01-31 00755192 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 00755192 core:ShareCapital 2024-01-31 00755192 core:ShareCapital 2023-01-31 00755192 core:RevaluationReserve 2024-01-31 00755192 core:RevaluationReserve 2023-01-31 00755192 core:OtherReservesSubtotal 2024-01-31 00755192 core:OtherReservesSubtotal 2023-01-31 00755192 core:RetainedEarningsAccumulatedLosses 2024-01-31 00755192 core:RetainedEarningsAccumulatedLosses 2023-01-31 00755192 core:HedgingReserve core:PreviouslyStatedAmount 2023-01-31 00755192 core:HedgingReserve core:PreviouslyStatedAmount 2022-01-31 00755192 core:HedgingReserve 2023-01-31 00755192 core:HedgingReserve 2022-01-31 00755192 core:HedgingReserve 2024-01-31 00755192 core:HedgingReserve 2023-01-31 00755192 core:BetweenOneFiveYears 2023-01-31 00755192 core:CostValuation core:Non-currentFinancialInstruments 2024-01-31 00755192 core:Non-currentFinancialInstruments 2024-01-31 00755192 core:Non-currentFinancialInstruments 2023-01-31 00755192 core:FurnitureFittings 2023-01-31 00755192 core:MotorVehicles 2023-01-31 00755192 bus:Director1 2023-01-31 00755192 bus:Director1 2024-01-31 00755192 bus:Director2 2023-01-31 00755192 bus:Director2 2024-01-31 00755192 bus:Director1 2022-01-31 00755192 bus:Director1 2023-01-31 00755192 bus:Director2 2022-01-31 00755192 bus:Director2 2023-01-31 00755192 bus:Director1 2022-02-01 2023-01-31 00755192 bus:Director2 2022-02-01 2023-01-31 00755192 bus:SmallEntities 2023-02-01 2024-01-31 00755192 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 00755192 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 00755192 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 00755192 bus:FullAccounts 2023-02-01 2024-01-31 00755192 core:AfterOneYear 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 00755192
J. Jeffery (Builder) Limited
Filleted Unaudited Financial Statements
31 January 2024
J. Jeffery (Builder) Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Officers and professional advisers
1
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
J. Jeffery (Builder) Limited
Officers and Professional Advisers
The board of directors
W N Jeffery
R A Jeffery
W Jeffery
Company secretary
R Lamb
Registered office
215 Bradford Road
East Ardsley
Wakefield
West Yorks
Accountants
Burlinson Shaw & Co
Accountants
21 Henrietta Street
Batley
West Yorkshire
WF17 5DN
J. Jeffery (Builder) Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of J. Jeffery (Builder) Limited
Year ended 31 January 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 January 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Burlinson Shaw & Co Accountants
21 Henrietta Street Batley West Yorkshire WF17 5DN
20 January 2025
J. Jeffery (Builder) Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
6,675,424
3,645,118
Investments
6
10,001
10,001
------------
------------
6,685,425
3,655,119
Current assets
Stocks
421,417
471,903
Debtors
7
2,139,125
1,800,992
Cash at bank and in hand
600
318,601
------------
------------
2,561,142
2,591,496
Creditors: amounts falling due within one year
8
855,525
761,591
------------
------------
Net current assets
1,705,617
1,829,905
------------
------------
Total assets less current liabilities
8,391,042
5,485,024
Creditors: amounts falling due after more than one year
9
1,791,908
1,840,700
Provisions
Taxation including deferred tax
1,039,891
313,065
------------
------------
Net assets
5,559,243
3,331,259
------------
------------
J. Jeffery (Builder) Limited
Statement of Financial Position (continued)
31 January 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
500
500
Revaluation reserve
891,105
352,605
Other reserves
3,060,150
1,287,765
Profit and loss account
1,607,488
1,690,389
------------
------------
Shareholders funds
5,559,243
3,331,259
------------
------------
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 comprehensive income has not been delivered.
For the year ending 31 January 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 20 January 2025 , and are signed on behalf of the board by:
W N Jeffery
Director
Company registration number: 00755192
J. Jeffery (Builder) Limited
Notes to the Financial Statements
Year ended 31 January 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 215 Bradford Road, East Ardsley, Wakefield, West Yorks.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property
-
2% straight line
Plant, fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. Gains less deferred taxation are taken to the non-distributable Fair Value Reserve
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 11 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost or valuation
At 1 February 2023
3,736,820
108,981
147,521
3,993,322
Disposals
( 34,356)
( 34,356)
Revaluations
2,913,180
2,913,180
------------
---------
---------
------------
At 31 January 2024
6,650,000
108,981
113,165
6,872,146
------------
---------
---------
------------
Depreciation
At 1 February 2023
126,000
98,569
123,635
348,204
Charge for the year
1,562
5,525
7,087
Disposals
( 32,569)
( 32,569)
Revaluations
( 126,000)
( 126,000)
------------
---------
---------
------------
At 31 January 2024
100,131
96,591
196,722
------------
---------
---------
------------
Carrying amount
At 31 January 2024
6,650,000
8,850
16,574
6,675,424
------------
---------
---------
------------
At 31 January 2023
3,610,820
10,412
23,886
3,645,118
------------
---------
---------
------------
Included within the above is investment property as follows:
£
------------
At 1 February 2023 and 31 January 2024
5,650,000
------------
Investment property is revalued annually by the directors, and is included in the financial statements at fair value. Non investment Freehold Property has been revalued by the directors.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property
£
At 31 January 2024
Aggregate cost
1,874,515
Aggregate depreciation
------------
Carrying value
1,874,515
------------
At 31 January 2023
Aggregate cost
1,874,515
Aggregate depreciation
------------
Carrying value
1,874,515
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 February 2023 and 31 January 2024
10,001
--------
Impairment
At 1 February 2023 and 31 January 2024
--------
Carrying amount
At 31 January 2024
10,001
--------
At 31 January 2023
10,001
--------
The above investment in the subsidiary represents 100% of the ordinary share capital of Geo Richardson & Sons Dewsbury Limited, a company registered in England and Wales. The aggregate amount of capital and reserves of Geo Richardson & Sons Dewsbury Limited at 31st January 2024 were £10,001 (2023 £10,001) and the profit for the year then ended was £NIL (2023 £NIL).
7. Debtors
2024
2023
£
£
Trade debtors
586,308
243,596
Other debtors
1,552,817
1,557,396
------------
------------
2,139,125
1,800,992
------------
------------
Other debtors includes a loan to Barnes Homes Yorkshire Limited of £166,100.
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
85,497
54,799
Trade creditors
140,969
136,397
Amounts owed to group undertakings and undertakings in which the company has a participating interest
10,001
10,001
Corporation tax
463,012
421,164
Social security and other taxes
84,886
69,171
Other creditors
71,160
70,059
---------
---------
855,525
761,591
---------
---------
Bank loans and overdrafts are secured by a charge over the company's assets. Included in other creditors are hire purchase agreements of £4,320 (31.1.23 £4,320) which are secured over the assets to which they relate.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,756,395
1,790,867
Other creditors
35,513
49,833
------------
------------
1,791,908
1,840,700
------------
------------
Bank loans and overdrafts are secured by a charge over the company's assets. Included in other creditors are hire purchase agreements of £4,680 (31.1.23 £9,000) which are secured over the assets to which they relate.
10. Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
2024
2023
£
£
At start of year (as previously reported)
1,287,765
1,287,765
Effects of changes in accounting policies
2,363,180
------------
------------
At start of year (as restated)
3,650,945
1,287,765
Reclassification from fair value reserve to profit and loss account
(590,795)
------------
------------
At end of year
3,060,150
1,287,765
------------
------------
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
4,173
6,261
Later than 1 year and not later than 5 years
4,173
-------
--------
4,173
10,434
-------
--------
12. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
W N Jeffery
632,397
139,925
( 142,750)
629,572
R A Jeffery
632,399
139,924
( 142,750)
629,573
------------
---------
---------
------------
1,264,796
279,849
( 285,500)
1,259,145
------------
---------
---------
------------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
W N Jeffery
504,487
320,660
( 192,750)
632,397
R A Jeffery
504,488
320,661
( 192,750)
632,399
------------
---------
---------
------------
1,008,975
641,321
( 385,500)
1,264,796
------------
---------
---------
------------
The maximum amount outstanding on the loan to the directors during the year was £1,264,796 (2023 £1,264,796). Interest is charged on the loan at a rate of 4% p.a.
13. Related party transactions
During the year, total dividends of £182,600(2023 £298,800) were paid to the directors.