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Company registration number: 00259600
W S Jenkins & Company Limited
Unaudited filleted financial statements
30 September 2024
W S Jenkins & Company Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
W S Jenkins & Company Limited
Directors and other information
Directors Mr P S Humphrey
Mr K R Humphrey
Mr J Humphrey
Secretary Mr P S Humphrey
Company number 00259600
Registered office Jeco Works
Tariff Road
Tottenham
London
N17 0EN
W S Jenkins & Company Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 60,514 57,085
_______ _______
60,514 57,085
Current assets
Stocks 171,107 159,170
Debtors 6 371,523 303,743
Cash at bank and in hand 472,095 353,881
_______ _______
1,014,725 816,794
Creditors: amounts falling due
within one year 7 ( 318,589) ( 256,271)
_______ _______
Net current assets 696,136 560,523
_______ _______
Total assets less current liabilities 756,650 617,608
Creditors: amounts falling due
after more than one year 8 ( 1,250) ( 5,000)
_______ _______
Net assets 755,400 612,608
_______ _______
Capital and reserves
Called up share capital 26,500 26,500
Profit and loss account 728,900 586,108
_______ _______
Shareholders funds 755,400 612,608
_______ _______
For the 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 March 2025 , and are signed on behalf of the board by:
Mr P S Humphrey
Director
Company registration number: 00259600
W S Jenkins & Company Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jeco Works, Tariff Road, Tottenham, London, N17 0EN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 12 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 180,381 102,793 77,003 360,177
Additions - 1,599 29,446 31,045
Disposals - - ( 40,281) ( 40,281)
_______ _______ _______ _______
At 30 September 2024 180,381 104,392 66,168 350,941
_______ _______ _______ _______
Depreciation
At 1 October 2023 172,722 83,255 47,115 303,092
Charge for the year 1,149 3,171 12,012 16,332
Disposals - - ( 28,997) ( 28,997)
_______ _______ _______ _______
At 30 September 2024 173,871 86,426 30,130 290,427
_______ _______ _______ _______
Carrying amount
At 30 September 2024 6,510 17,966 36,038 60,514
_______ _______ _______ _______
At 30 September 2023 7,659 19,538 29,888 57,085
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 318,378 253,710
Other debtors 53,145 50,033
_______ _______
371,523 303,743
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 120,791 66,897
Corporation tax 100,497 91,342
Social security and other taxes 71,404 70,759
Other creditors 25,897 27,273
_______ _______
318,589 256,271
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 1,250 5,000
_______ _______
Amounts due to finance lease creditors are secured over the assets to which they relate.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr P S Humphrey ( 2,454) ( 95,000) 95,783 ( 1,671)
Mr K R Humphrey - ( 64,500) 64,500 -
_______ _______ _______ _______
( 2,454) ( 159,500) 160,283 ( 1,671)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr P S Humphrey 170 ( 95,000) 92,376 ( 2,454)
Mr K R Humphrey - ( 64,500) 64,500 -
_______ _______ _______ _______
170 ( 159,500) 156,876 ( 2,454)
_______ _______ _______ _______
10. Related party transactions
During the year the company paid rent of £17,250 (2023: £17,250) in respect of a property in which J Humphrey, director, has a 50% interest.