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JEFF ASKEW LIMITED

Registered Number
SC548309
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2024

JEFF ASKEW LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

ASKEW, Jeffrey Steven

Registered Address

Fala Hall Farm
Fala
Pathhead
EH37 5SZ

Registered Number

SC548309 (Scotland)
JEFF ASKEW LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets379,95882,956
79,95882,956
Current assets
Debtors474,576156,832
Cash at bank and on hand158,21951,403
232,795208,235
Creditors amounts falling due within one year5(76,435)(80,981)
Net current assets (liabilities)156,360127,254
Total assets less current liabilities236,318210,210
Creditors amounts falling due after one year6(38,862)(55,575)
Provisions for liabilities8(15,192)(15,762)
Net assets182,264138,873
Capital and reserves
Called up share capital25,00025,000
Profit and loss account157,264113,873
Shareholders' funds182,264138,873
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
ASKEW, Jeffrey Steven
Director
Registered Company No. SC548309
JEFF ASKEW LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 23162,3273,753166,080
Additions24,3351,67426,009
At 31 January 24186,6625,427192,089
Depreciation and impairment
At 01 February 2382,51461083,124
Charge for year27,8821,12529,007
At 31 January 24110,3961,735112,131
Net book value
At 31 January 2476,2663,69279,958
At 31 January 2379,8133,14382,956
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables64,750145,126
Amounts owed by associates and joint ventures / participating interests-2,191
Other debtors2,9147,192
Prepayments and accrued income6,9122,323
Total74,576156,832
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,8444,604
Bank borrowings and overdrafts10,00010,000
Taxation and social security45,76448,434
Finance lease and HP contracts14,68517,262
Other creditors142681
Total76,43580,981
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts20,86323,332
Other creditors17,99932,243
Total38,86255,575
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts17,99932,243
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)15,19215,762
Total15,19215,762