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REGISTERED NUMBER: 11087443 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

JAMES WOODS ENGINEERING LIMITED

JAMES WOODS ENGINEERING LIMITED (REGISTERED NUMBER: 11087443)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES WOODS ENGINEERING LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J Woods
Mrs R Woods





REGISTERED OFFICE: The Chestnuts
Brewers End
Takeley
Essex
CM22 6QJ





REGISTERED NUMBER: 11087443 (England and Wales)





ACCOUNTANTS: Allium Wood Limited
Chartered Certified Accountants
The Chestnuts
Brewers End
Takeley
Essex
CM22 6QJ

JAMES WOODS ENGINEERING LIMITED (REGISTERED NUMBER: 11087443)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 160,559 72,412

CURRENT ASSETS
Stocks 142,633 185,311
Debtors 5 183,216 267,526
Cash at bank 5,010 16,909
330,859 469,746
CREDITORS
Amounts falling due within one year 6 (233,988 ) (325,231 )
NET CURRENT ASSETS 96,871 144,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

257,430

216,927

CREDITORS
Amounts falling due after more than one year 7 (94,081 ) (62,674 )

PROVISIONS FOR LIABILITIES (24,416 ) (9,783 )
NET ASSETS 138,933 144,470

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 138,833 144,370
138,933 144,470

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

JAMES WOODS ENGINEERING LIMITED (REGISTERED NUMBER: 11087443)

Balance Sheet - continued
31 May 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 20 February 2025 and were signed on its behalf by:





J Woods - Director


JAMES WOODS ENGINEERING LIMITED (REGISTERED NUMBER: 11087443)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

James Woods Engineering 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.

The presentation currency is £ Sterling.

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

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 reducing balance and Straight line over 5 years as per lease

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

JAMES WOODS ENGINEERING LIMITED (REGISTERED NUMBER: 11087443)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 111,945
Additions 130,192
Disposals (14,812 )
At 31 May 2024 227,325
DEPRECIATION
At 1 June 2023 39,533
Charge for year 34,188
Eliminated on disposal (6,955 )
At 31 May 2024 66,766
NET BOOK VALUE
At 31 May 2024 160,559
At 31 May 2023 72,412

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 38,758
Additions 71,989
At 31 May 2024 110,747
DEPRECIATION
At 1 June 2023 11,706
Charge for year 13,230
At 31 May 2024 24,936
NET BOOK VALUE
At 31 May 2024 85,811
At 31 May 2023 27,052

JAMES WOODS ENGINEERING LIMITED (REGISTERED NUMBER: 11087443)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 175,107 223,138
Other debtors 8,109 44,388
183,216 267,526

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,406 10,145
Hire purchase contracts 20,329 5,144
Trade creditors 142,069 164,335
Taxation and social security 55,851 64,144
Other creditors 5,333 81,463
233,988 325,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,044 39,642
Hire purchase contracts 65,037 23,032
94,081 62,674