Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Mr M P Jameson 03/09/2020 Mrs L G Ridgway 03/09/2020 03 March 2025 The principal activity of the Company during the financial year was the sale of marine antiques, décor and lighting. 12854739 2024-09-30 12854739 bus:Director1 2024-09-30 12854739 bus:Director2 2024-09-30 12854739 2023-09-30 12854739 core:CurrentFinancialInstruments 2024-09-30 12854739 core:CurrentFinancialInstruments 2023-09-30 12854739 core:Non-currentFinancialInstruments 2024-09-30 12854739 core:Non-currentFinancialInstruments 2023-09-30 12854739 core:ShareCapital 2024-09-30 12854739 core:ShareCapital 2023-09-30 12854739 core:RetainedEarningsAccumulatedLosses 2024-09-30 12854739 core:RetainedEarningsAccumulatedLosses 2023-09-30 12854739 core:Goodwill 2023-09-30 12854739 core:Goodwill 2024-09-30 12854739 core:PlantMachinery 2023-09-30 12854739 core:Vehicles 2023-09-30 12854739 core:FurnitureFittings 2023-09-30 12854739 core:OfficeEquipment 2023-09-30 12854739 core:PlantMachinery 2024-09-30 12854739 core:Vehicles 2024-09-30 12854739 core:FurnitureFittings 2024-09-30 12854739 core:OfficeEquipment 2024-09-30 12854739 bus:OrdinaryShareClass1 2024-09-30 12854739 bus:OrdinaryShareClass2 2024-09-30 12854739 bus:OrdinaryShareClass3 2024-09-30 12854739 2023-10-01 2024-09-30 12854739 bus:FilletedAccounts 2023-10-01 2024-09-30 12854739 bus:SmallEntities 2023-10-01 2024-09-30 12854739 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 12854739 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12854739 bus:Director1 2023-10-01 2024-09-30 12854739 bus:Director2 2023-10-01 2024-09-30 12854739 core:Goodwill core:TopRangeValue 2023-10-01 2024-09-30 12854739 core:Goodwill 2023-10-01 2024-09-30 12854739 core:PlantMachinery 2023-10-01 2024-09-30 12854739 core:Vehicles 2023-10-01 2024-09-30 12854739 core:FurnitureFittings 2023-10-01 2024-09-30 12854739 core:OfficeEquipment 2023-10-01 2024-09-30 12854739 2022-10-01 2023-09-30 12854739 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 12854739 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 12854739 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 12854739 bus:OrdinaryShareClass2 2023-10-01 2024-09-30 12854739 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 12854739 bus:OrdinaryShareClass3 2023-10-01 2024-09-30 12854739 bus:OrdinaryShareClass3 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12854739 (England and Wales)

JAMESON & SONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

JAMESON & SONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

JAMESON & SONS LIMITED

BALANCE SHEET

As at 30 September 2024
JAMESON & SONS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 365,822 426,793
Tangible assets 4 25,420 32,809
391,242 459,602
Current assets
Stocks 795,000 680,995
Debtors 5 28,926 176,709
Cash at bank and in hand 158,256 244,377
982,182 1,102,081
Creditors: amounts falling due within one year 6 ( 280,093) ( 337,360)
Net current assets 702,089 764,721
Total assets less current liabilities 1,093,331 1,224,323
Creditors: amounts falling due after more than one year 7 ( 685,099) ( 853,751)
Provision for liabilities ( 5,902) ( 8,155)
Net assets 402,330 362,417
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 402,230 362,317
Total shareholders' funds 402,330 362,417

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Jameson & Sons Limited (registered number: 12854739) were approved and authorised for issue by the Board of Directors on 03 March 2025. They were signed on its behalf by:

Mr M P Jameson
Director
JAMESON & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
JAMESON & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jameson & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Trinity Marine Scattor Rock, Sheldon Lane, Dunsford, Exeter, EX6 7YT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 9

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 609,705 609,705
At 30 September 2024 609,705 609,705
Accumulated amortisation
At 01 October 2023 182,912 182,912
Charge for the financial year 60,971 60,971
At 30 September 2024 243,883 243,883
Net book value
At 30 September 2024 365,822 365,822
At 30 September 2023 426,793 426,793

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 October 2023 9,997 18,489 17,129 2,357 47,972
At 30 September 2024 9,997 18,489 17,129 2,357 47,972
Accumulated depreciation
At 01 October 2023 4,829 1,926 7,723 685 15,163
Charge for the financial year 1,033 4,141 1,881 334 7,389
At 30 September 2024 5,862 6,067 9,604 1,019 22,552
Net book value
At 30 September 2024 4,135 12,422 7,525 1,338 25,420
At 30 September 2023 5,168 16,563 9,406 1,672 32,809

5. Debtors

2024 2023
£ £
Trade debtors 8,068 162,250
Other debtors 20,858 14,459
28,926 176,709

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,389 2,032
Taxation and social security 70,309 128,690
Other creditors 204,395 206,638
280,093 337,360

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 685,099 853,751

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
85 Ordinary A shares of £ 1.00 each 85 85
5 Ordinary B shares of £ 1.00 each 5 5
10 Ordinary C shares of £ 1.00 each 10 10
100 100