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REGISTERED NUMBER: 05115373 (England and Wales)















J T EVANS & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J T EVANS & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: I J Evans
Mrs A R Evans





SECRETARY: J T Evans





REGISTERED OFFICE: 37 Mill Street
Bideford
DEVON
EX39 2JJ





REGISTERED NUMBER: 05115373 (England and Wales)





ACCOUNTANTS: Jane Maynard Limited
T/A Maynard Johns
37 Mill Street
Bideford
DEVON
EX39 2JJ

J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,119 18,702
18,119 18,702

CURRENT ASSETS
Stocks 150 150
Debtors 6 32,924 20,069
33,074 20,219
CREDITORS
Amounts falling due within one year 7 (53,067 ) (49,000 )
NET CURRENT LIABILITIES (19,993 ) (28,781 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,874

)

(10,079

)

CREDITORS
Amounts falling due after more than one
year

8

(15,106

)

(19,381

)

PROVISIONS FOR LIABILITIES (3,443 ) (3,553 )
NET LIABILITIES (20,423 ) (33,013 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (20,425 ) (33,015 )
SHAREHOLDERS' FUNDS (20,423 ) (33,013 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)

BALANCE SHEET - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





I J Evans - Director


J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

J T Evans & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was being amortised evenly over the estimated useful life of twenty years until 2015, when the remaining balance is being amortised evenly over an estimated remaining life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost, 15% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern
The company is reliant on the continuing support of its creditors and while there is no reason to doubt that the support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

Having assessed the company's financial position as well as considered the future sales expectation, the directors have concluded that the company will still be able to trade for at least the next eighteen months. They, therefore, consider it correct to continue to adopt the going concern basis of accounting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 120,000
AMORTISATION
At 1 February 2023
and 31 January 2024 120,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 27,140 13,256 35,496 2,634 78,526
Additions - - 23,000 - 23,000
Disposals - - (35,495 ) - (35,495 )
At 31 January 2024 27,140 13,256 23,001 2,634 66,031
DEPRECIATION
At 1 February 2023 27,140 13,074 17,749 1,861 59,824
Charge for year - 86 5,750 - 5,836
Eliminated on disposal - - (17,748 ) - (17,748 )
At 31 January 2024 27,140 13,160 5,751 1,861 47,912
NET BOOK VALUE
At 31 January 2024 - 96 17,250 773 18,119
At 31 January 2023 - 182 17,747 773 18,702

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 35,495
Additions 23,000
Disposals (35,495 )
At 31 January 2024 23,000
DEPRECIATION
At 1 February 2023 17,748
Charge for year 5,750
Eliminated on disposal (17,748 )
At 31 January 2024 5,750
NET BOOK VALUE
At 31 January 2024 17,250
At 31 January 2023 17,747

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 830 1,280
Other debtors 777 123
Directors' current accounts 31,317 18,666
32,924 20,069

J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,867 26,382
Hire purchase contracts 3,512 5,809
Tax 17,980 14,224
Other creditors 200 200
Accrued expenses 2,508 2,385
53,067 49,000

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 15,106 19,381

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 28,867 26,382
Hire purchase contracts 18,618 25,190
47,485 51,572

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
I J Evans
Balance outstanding at start of year 18,666 -
Amounts advanced 40,056 20,892
Amounts repaid (27,405 ) (2,226 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,317 18,666

Director loan account is repaid in full by 31st October 2023.

The bank overdraft has been secured by a guarantee from Mr J Evans, a former director and shareholder of the company.

J T EVANS & SON LIMITED (REGISTERED NUMBER: 05115373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. GOING CONCERN

The company is reliant on the continuing support of its creditors and while there is no reason to doubt that the support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

Having assessed the company's financial position as well as considered the future sales expectation, the directors have concluded that the company will still be able to trade for at least the next eighteen months. They, therefore, consider it correct to continue to adopt the going concern basis of accounting.