J.F. Tanner And R.J. Tanner Limited 11433716 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is car breakers and scrap metal merchants Digita Accounts Production Advanced 6.30.9574.0 true true 11433716 2023-07-01 2024-06-30 11433716 2024-06-30 11433716 core:RetainedEarningsAccumulatedLosses 2024-06-30 11433716 core:ShareCapital 2024-06-30 11433716 core:CurrentFinancialInstruments 2024-06-30 11433716 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 11433716 core:Goodwill 2024-06-30 11433716 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 11433716 core:MotorVehicles 2024-06-30 11433716 core:OfficeEquipment 2024-06-30 11433716 core:PlantMachinery 2024-06-30 11433716 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-06-30 11433716 bus:SmallEntities 2023-07-01 2024-06-30 11433716 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11433716 bus:FilletedAccounts 2023-07-01 2024-06-30 11433716 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11433716 bus:RegisteredOffice 2023-07-01 2024-06-30 11433716 bus:Director1 2023-07-01 2024-06-30 11433716 bus:Director2 2023-07-01 2024-06-30 11433716 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11433716 core:Goodwill 2023-07-01 2024-06-30 11433716 core:Buildings 2023-07-01 2024-06-30 11433716 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11433716 core:MotorVehicles 2023-07-01 2024-06-30 11433716 core:OfficeEquipment 2023-07-01 2024-06-30 11433716 core:PlantMachinery 2023-07-01 2024-06-30 11433716 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-01 2024-06-30 11433716 countries:EnglandWales 2023-07-01 2024-06-30 11433716 2023-06-30 11433716 core:Goodwill 2023-06-30 11433716 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 11433716 core:MotorVehicles 2023-06-30 11433716 core:OfficeEquipment 2023-06-30 11433716 core:PlantMachinery 2023-06-30 11433716 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 11433716 2022-07-01 2023-06-30 11433716 2023-06-30 11433716 core:RetainedEarningsAccumulatedLosses 2023-06-30 11433716 core:ShareCapital 2023-06-30 11433716 core:CurrentFinancialInstruments 2023-06-30 11433716 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11433716 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 11433716 core:MotorVehicles 2023-06-30 11433716 core:OfficeEquipment 2023-06-30 11433716 core:PlantMachinery 2023-06-30 11433716 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 11433716 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-07-01 2023-06-30 11433716 2022-06-30 11433716 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 11433716

J.F. Tanner And R.J. Tanner Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

J.F. Tanner And R.J. Tanner Limited

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

J.F. Tanner And R.J. Tanner Limited

Company Information

Directors

Mr J F Tanner

Mr R Tanner

Registered office

The Breakers Yard Granary Court Road
Smeeth
Ashford
TN25 6RE

 

J.F. Tanner And R.J. Tanner Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

 

844,069

686,469

Cost of sales

 

(394,428)

(248,236)

Gross profit

 

449,641

438,233

Administrative expenses

 

(457,474)

(421,889)

Operating (loss)/profit

 

(7,833)

16,344

Other interest receivable and similar income

 

1,070

376

Interest payable and similar charges

 

1,004

(6)

 

2,074

370

(Loss)/profit before tax

(5,759)

16,714

Taxation

 

651

(46,918)

Loss for the financial year

 

(5,108)

(30,204)

Retained earnings brought forward

 

163,657

195,861

Dividends paid

 

(1,000)

(2,000)

Retained earnings carried forward

 

157,549

163,657

 

J.F. Tanner And R.J. Tanner Limited

(Registration number: 11433716)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

241,618

217,287

Current assets

 

Stocks

6

7,500

7,500

Debtors

7

75,375

45,801

Cash at bank and in hand

 

81,916

134,698

 

164,791

187,999

Creditors: Amounts falling due within one year

8

(202,853)

(200,244)

Net current liabilities

 

(38,062)

(12,245)

Total assets less current liabilities

 

203,556

205,042

Provisions for liabilities

(45,907)

(41,285)

Net assets

 

157,649

163,757

Capital and reserves

 

Called up share capital

100

100

Retained earnings

157,549

163,657

Shareholders' funds

 

157,649

163,757

For the financial year ending 30 June 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 19 February 2025 and signed on its behalf by:
 

.........................................
Mr J F Tanner
Director

.........................................
Mr R Tanner
Director

 
     
 

J.F. Tanner And R.J. Tanner Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Breakers Yard Granary Court Road
Smeeth
Ashford
TN25 6RE
United Kingdom

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.F. Tanner And R.J. Tanner Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

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

Buildings

10% reducing balance

Plant and machinery

20% reducing balance

Office equipment

33% reducing balance

Motor vehicles

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

4 years straight line

 

J.F. Tanner And R.J. Tanner Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

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.

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.

 

J.F. Tanner And R.J. Tanner Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

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.

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 8 (2023 - 8).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

25,000

25,000

At 30 June 2024

25,000

25,000

Amortisation

At 1 July 2023

25,000

25,000

At 30 June 2024

25,000

25,000

Carrying amount

At 30 June 2024

-

-

 

J.F. Tanner And R.J. Tanner Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

17,800

303,126

748

91,505

413,179

Additions

-

81,146

541

5,000

86,687

Disposals

-

(11,000)

-

-

(11,000)

At 30 June 2024

17,800

373,272

1,289

96,505

488,866

Depreciation

At 1 July 2023

2,377

147,563

542

45,410

195,892

Charge for the year

1,542

46,591

249

10,219

58,601

Eliminated on disposal

-

(7,245)

-

-

(7,245)

At 30 June 2024

3,919

186,909

791

55,629

247,248

Carrying amount

At 30 June 2024

13,881

186,363

498

40,876

241,618

At 30 June 2023

15,423

155,563

206

46,095

217,287

Included within the net book value of land and buildings above is £13,881 (2023 - £15,423) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

7,500

7,500

7

Debtors

Current

2024
£

2023
£

Trade debtors

53,343

28,958

Prepayments

15,855

12,571

Other debtors

6,177

4,272

 

75,375

45,801

 

J.F. Tanner And R.J. Tanner Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

54,143

52,351

Trade creditors

 

12,860

15,903

Taxation and social security

 

19,916

16,255

Accruals and deferred income

 

2,617

2,418

Other creditors

 

113,317

113,317

 

202,853

200,244

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

4,127

2,975

Directors current account

50,016

49,376

54,143

52,351

10

Dividends

2024

2023

£

£

Interim dividend of £10.00 (2023 - £20.00) per ordinary share

1,000

2,000

 

 

11

Related party transactions

Loans from related parties

 

J.F. Tanner And R.J. Tanner Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

11

Related party transactions (continued)

2024

Key management
£

Total
£

At start of period

49,377

49,377

Advanced

1,191

1,191

Repaid

(552)

(552)

At end of period

50,016

50,016

2023

Key management
£

Total
£

At start of period

32,087

32,087

Advanced

30,230

30,230

Repaid

(12,940)

(12,940)

At end of period

49,377

49,377