Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false22023-06-01No description of principal activity2truefalse 12662137 2023-06-01 2024-05-31 12662137 2022-06-01 2023-05-31 12662137 2024-05-31 12662137 2023-05-31 12662137 c:Director1 2023-06-01 2024-05-31 12662137 c:Director2 2023-06-01 2024-05-31 12662137 d:CurrentFinancialInstruments 2024-05-31 12662137 d:CurrentFinancialInstruments 2023-05-31 12662137 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 12662137 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 12662137 d:ShareCapital 2024-05-31 12662137 d:ShareCapital 2023-05-31 12662137 d:RetainedEarningsAccumulatedLosses 2024-05-31 12662137 d:RetainedEarningsAccumulatedLosses 2023-05-31 12662137 c:FRS102 2023-06-01 2024-05-31 12662137 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12662137 c:FullAccounts 2023-06-01 2024-05-31 12662137 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12662137 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 12662137










SJT EARLS COLNE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
SJT EARLS COLNE LIMITED
REGISTERED NUMBER: 12662137

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
1,669,387
1,607,456

Cash at bank and in hand
 4 
100
100

  
1,669,487
1,607,556

Creditors: amounts falling due within one year
 5 
(1,781,301)
(1,660,680)

Net current liabilities
  
 
 
(111,814)
 
 
(53,124)

Total assets less current liabilities
  
(111,814)
(53,124)

  

Net liabilities
  
(111,814)
(53,124)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(111,914)
(53,224)

  
(111,814)
(53,124)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 October 2024.




S B Tappenden
J R Tappenden
Director
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
SJT EARLS COLNE LIMITED
 

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

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Going concern

The accounts record a loss for the year of £58,690 (2023 £52,948) and a balance sheet deficit of £111,814 (2023 £53,124). The directors forecast that the company will generated profits in excess of this deficit on the current development site. Furthermore the creditors of the company have continued to support it and the directors are of the opinion they will continue to do so.
Consequently the directors consider it appropriate to prepare these accounts on a going concern basis.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
SJT EARLS COLNE LIMITED
 

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

1.Accounting policies (continued)

 
1.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

  
1.8

Stock and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes
directly attributable interest and overheads.

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
SJT EARLS COLNE LIMITED
 

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

1.Accounting policies (continued)

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


2.


General information

SJT Earls Colne Limited is a private company, limited by shares, domiciled in England and Wales, registration number 12662137. The registered office is Kingsridge House, 601 London Road, Westcliff on Sea, Essex SS0 9PE.


3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Director
2
2


4.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
100
100

100
100


Page 4

 
SJT EARLS COLNE LIMITED
 

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

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
739,864
726,124

Trade creditors
3,609
56,731

Other creditors
1,036,358
876,040

Accruals
1,470
1,785

1,781,301
1,660,680


The following liabilities were secured:




Details of security provided:

The bank loans described above are secured by fixed charges on the respective development sites and
legal debenture on the company's assets and the undertaking.


6.


Related party transactions

These financial statements include the transactions and balances listed below with the following:
A company under common control: Other creditors £1,036,358 (2023 £876,040).
A company under common control has guaranteed the bank loans of the company supported by a first legal charge over their freehold of a property.
The two directors have personally guaranteed any unpaid interest on the company's bank loan along with a joint and several guarantee in the sum of £192,000 plus interest costs and fees.


Page 5