Registered number
05797106
J. K. Owen & Sons Ltd
Abbreviated Accounts
30 April 2024
J. K. Owen & Sons Ltd
Registered number: 05797106
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,009 17,511
Current assets
Debtors 4 44,658 3,790
Cash at bank and in hand 39,454 47,238
84,112 51,028
Creditors: amounts falling due within one year 5 (46,300) (19,497)
Net current assets 37,812 31,531
Total assets less current liabilities 51,821 49,042
Creditors: amounts falling due after more than one year 6 (10,417) (20,416)
Net assets 41,404 28,626
Capital and reserves
Called up share capital 100 100
Profit and loss account 41,304 28,526
Shareholders' funds 41,404 28,626
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Debbie Owen
Director
Approved by the board on 1 October 2024
J. K. Owen & Sons Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 34,200
At 30 April 2024 34,200
Depreciation
At 1 May 2023 16,689
Charge for the year 3,502
At 30 April 2024 20,191
Net book value
At 30 April 2024 14,009
At 30 April 2023 17,511
4 Debtors 2024 2023
£ £
Trade debtors 44,658 3,790
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,293 3,854
Corporation tax 9,951 4,356
Other taxes and social security costs 7,570 3,180
Other creditors 17,486 8,107
46,300 19,497
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,417 20,416
7 Other information
J. K. Owen & Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
277 Stockport Road
Ashton u Lyne
Lancashire
OL7 0NT
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