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REGISTERED NUMBER: 09459880 (England and Wales)









J & N LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






J & N LIMITED (REGISTERED NUMBER: 09459880)






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


J & N LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Dr J R Murphy
Dr N J W Murphy





REGISTERED OFFICE: The Dental Practice Southbourne
287/289 Main Road
Southbourne
Hampshire
PO10 8JG





REGISTERED NUMBER: 09459880 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

J & N LIMITED (REGISTERED NUMBER: 09459880)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,988 7,976
Tangible assets 5 218,048 225,759
Investment property 6 207,171 205,785
429,207 439,520

CURRENT ASSETS
Stocks 7,410 8,404
Debtors 7 31,670 48,036
Cash at bank 25,709 12,234
64,789 68,674
CREDITORS
Amounts falling due within one year 8 127,343 91,303
NET CURRENT LIABILITIES (62,554 ) (22,629 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

366,653

416,891

CREDITORS
Amounts falling due after more than one
year

9

(335,594

)

(366,728

)

PROVISIONS FOR LIABILITIES (19,143 ) (19,277 )
NET ASSETS 11,916 30,886

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,816 30,786
SHAREHOLDERS' FUNDS 11,916 30,886

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.

J & N LIMITED (REGISTERED NUMBER: 09459880)

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 26 February 2025 and were signed on its behalf by:





Dr J R Murphy - Director


J & N LIMITED (REGISTERED NUMBER: 09459880)

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

1. STATUTORY INFORMATION

J & N 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the provision of dental services during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten 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.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Dental equipment - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.


J & N LIMITED (REGISTERED NUMBER: 09459880)

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

2. ACCOUNTING POLICIES - continued
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 at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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 shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 39,882
AMORTISATION
At 1 June 2023 31,906
Amortisation for year 3,988
At 31 May 2024 35,894
NET BOOK VALUE
At 31 May 2024 3,988
At 31 May 2023 7,976

J & N LIMITED (REGISTERED NUMBER: 09459880)

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

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Dental
property property equipment
£    £    £   
COST
At 1 June 2023 220,644 21,483 54,315
Additions - - -
At 31 May 2024 220,644 21,483 54,315
DEPRECIATION
At 1 June 2023 26,477 15,133 45,095
Charge for year 4,413 2,149 3,916
At 31 May 2024 30,890 17,282 49,011
NET BOOK VALUE
At 31 May 2024 189,754 4,201 5,304
At 31 May 2023 194,167 6,350 9,220

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 37,380 13,710 28,159 375,691
Additions - - 8,478 8,478
At 31 May 2024 37,380 13,710 36,637 384,169
DEPRECIATION
At 1 June 2023 22,750 13,710 26,767 149,932
Charge for year 2,635 - 3,076 16,189
At 31 May 2024 25,385 13,710 29,843 166,121
NET BOOK VALUE
At 31 May 2024 11,995 - 6,794 218,048
At 31 May 2023 14,630 - 1,392 225,759

J & N LIMITED (REGISTERED NUMBER: 09459880)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 13,710
Transfer to ownership (13,710 )
At 31 May 2024 -
DEPRECIATION
At 1 June 2023 13,710
Transfer to ownership (13,710 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 205,785
Revaluations 1,386
At 31 May 2024 207,171
NET BOOK VALUE
At 31 May 2024 207,171
At 31 May 2023 205,785

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2019 6,397
Valuation in 2020 3,261
Valuation in 2021 16,906
Valuation in 2022 21,064
Valuation in 2023 554
Valuation in 2024 1,386
Cost 157,603
207,171

J & N LIMITED (REGISTERED NUMBER: 09459880)

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

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 157,603 157,603

Investment property was valued on an open market basis on 31 May 2024 by the directors .

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 8,683 6,154
Other debtors 16,098 32,735
24,781 38,889

Amounts falling due after more than one year:
Other debtors 6,889 9,147

Aggregate amounts 31,670 48,036

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,106 44,851
Trade creditors 22,556 16,513
Amounts owed to associates 7,006 -
Taxation and social security 41,236 19,973
Other creditors 11,439 9,966
127,343 91,303

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 335,594 366,728

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 186,593 207,505

J & N LIMITED (REGISTERED NUMBER: 09459880)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Dr J R Murphy
Balance outstanding at start of year 27,379 28,145
Amounts advanced 82,262 70,546
Amounts repaid (100,257 ) (71,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,384 27,379