J & M Crawford Limited NI026684 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is plastic pipe manufacturer & oil distributor Digita Accounts Production Advanced 6.30.9574.0 true true NI026684 2023-05-01 2024-04-30 NI026684 2024-04-30 NI026684 bus:OrdinaryShareClass1 2024-04-30 NI026684 core:RetainedEarningsAccumulatedLosses 2024-04-30 NI026684 core:ShareCapital 2024-04-30 NI026684 core:CurrentFinancialInstruments 2024-04-30 NI026684 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 NI026684 core:Non-currentFinancialInstruments 2024-04-30 NI026684 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 NI026684 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 NI026684 core:MotorVehicles 2024-04-30 NI026684 core:PlantMachinery 2024-04-30 NI026684 bus:SmallEntities 2023-05-01 2024-04-30 NI026684 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI026684 bus:FilletedAccounts 2023-05-01 2024-04-30 NI026684 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI026684 bus:RegisteredOffice 2023-05-01 2024-04-30 NI026684 bus:CompanySecretaryDirector2 2023-05-01 2024-04-30 NI026684 bus:Director2 2023-05-01 2024-04-30 NI026684 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 NI026684 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI026684 core:LandBuildings 2023-05-01 2024-04-30 NI026684 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 NI026684 core:MotorVehicles 2023-05-01 2024-04-30 NI026684 core:PlantMachinery 2023-05-01 2024-04-30 NI026684 countries:NorthernIreland 2023-05-01 2024-04-30 NI026684 2023-04-30 NI026684 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 NI026684 core:MotorVehicles 2023-04-30 NI026684 core:PlantMachinery 2023-04-30 NI026684 2022-05-01 2023-04-30 NI026684 2023-04-30 NI026684 bus:OrdinaryShareClass1 2023-04-30 NI026684 core:RetainedEarningsAccumulatedLosses 2023-04-30 NI026684 core:ShareCapital 2023-04-30 NI026684 core:CurrentFinancialInstruments 2023-04-30 NI026684 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI026684 core:Non-currentFinancialInstruments 2023-04-30 NI026684 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 NI026684 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 NI026684 core:MotorVehicles 2023-04-30 NI026684 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI026684

J & M Crawford Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

J & M Crawford Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

J & M Crawford Limited

Company Information

Directors

Mrs Mae Crawford

Mr John Crawford

Company secretary

Mrs Mae Crawford

Registered office

28/30 Colebrooke Road
Fivemiletown
Co. Tyrone
BT75 0QG

Solicitors

Ferguson & Co
18 - 20 Belmore Road
Enniskillen
Co. Fermanagh
BT74 6AA

Accountants

Richard Clements & Co
Chartered Certified Accountants
Omagh Business Complex
Gortrush Industrial Estate
Omagh
Co. Tyrone
BT78 5LU

 

J & M Crawford Limited

(Registration number: NI026684)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,001,040

1,101,012

Current assets

 

Stocks

5

349,037

417,261

Debtors

6

769,487

791,700

Cash at bank and in hand

 

3,431,571

2,659,735

 

4,550,095

3,868,696

Creditors: Amounts falling due within one year

7

(711,727)

(405,872)

Net current assets

 

3,838,368

3,462,824

Total assets less current liabilities

 

4,839,408

4,563,836

Creditors: Amounts falling due after more than one year

7

(200,926)

(176,646)

Provisions for liabilities

(135,594)

(102,617)

Net assets

 

4,502,888

4,284,573

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

4,501,888

4,283,573

Shareholders' funds

 

4,502,888

4,284,573

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

 

J & M Crawford Limited

(Registration number: NI026684)
Balance Sheet as at 30 April 2024

.........................................
Mrs Mae Crawford
Company secretary and director

.........................................
Mr John Crawford
Director

 
     
 

J & M Crawford Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
28/30 Colebrooke Road
Fivemiletown
Co. Tyrone
BT75 0QG

These financial statements were authorised for issue by the Board on 28 January 2025.

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

J & M Crawford Limited

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

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

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

4% straight line

Plant and machinery

25% reducing balance basis

Motor vehicles

25% reducing balance basis

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.

 

J & M Crawford Limited

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

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.

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.

 

J & M Crawford Limited

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

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 directors) during the year, was 13 (2023 - 13).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

626,262

5,147,684

329,600

6,103,546

Additions

-

23,200

152,838

176,038

At 30 April 2024

626,262

5,170,884

482,438

6,279,584

Depreciation

At 1 May 2023

381,859

4,355,387

265,288

5,002,534

Charge for the year

25,023

203,067

47,920

276,010

At 30 April 2024

406,882

4,558,454

313,208

5,278,544

Carrying amount

At 30 April 2024

219,380

612,430

169,230

1,001,040

At 30 April 2023

244,403

792,297

64,312

1,101,012

Included within the net book value of land and buildings above is £219,380 (2023 - £244,403) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

349,037

417,261

 

J & M Crawford Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

697,931

734,984

Prepayments

49,792

56,716

Other debtors

21,764

-

 

769,487

791,700

 

J & M Crawford Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

561,330

378,440

Taxation and social security

140,605

17,841

Accruals and deferred income

9,792

9,591

711,727

405,872

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

200,926

176,646

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

200,926

176,646

10

Related party transactions

Other transactions with directors

As at the balance sheet date the company owed the directors £200,926 (2023 - £176,646).