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REGISTERED NUMBER: NI644092 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

JEBCO FOODS LIMITED

JEBCO FOODS LIMITED (Registered number: NI644092)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


JEBCO FOODS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: N McMullan





REGISTERED OFFICE: 3 Meadow Road
Moira
Co. Armagh
BT67 0HH





REGISTERED NUMBER: NI644092 (Northern Ireland)





ACCOUNTANTS: Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE

JEBCO FOODS LIMITED (Registered number: NI644092)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,180,817 1,085,286

CURRENT ASSETS
Stocks 334,202 319,452
Debtors 6 1,334,320 985,186
Cash at bank and in hand 86,809 47,072
1,755,331 1,351,710
CREDITORS
Amounts falling due within one year 7 1,836,961 1,370,467
NET CURRENT LIABILITIES (81,630 ) (18,757 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,099,187

1,066,529

CREDITORS
Amounts falling due after more than one
year

8

(25,000

)

(244,529

)

PROVISIONS FOR LIABILITIES 9 (67,437 ) (41,731 )
NET ASSETS 1,006,750 780,269

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,006,650 780,169
SHAREHOLDERS' FUNDS 1,006,750 780,269

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JEBCO FOODS LIMITED (Registered number: NI644092)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2025 and were signed by:





N McMullan - Director


JEBCO FOODS LIMITED (Registered number: NI644092)

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

1. STATUTORY INFORMATION

JEBCO FOODS LIMITED is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 - 20% on Reducing Balance
Motor vehicles - 20% on Reducing Balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment ar recognised in the profit and loss account in other administrative expenses.


JEBCO FOODS LIMITED (Registered number: NI644092)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

JEBCO FOODS LIMITED (Registered number: NI644092)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 808,008 405,486 9,677 63,454 1,286,625
Additions - 96,893 2,734 73,995 173,622
Disposals - - - (52,464 ) (52,464 )
At 31 March 2024 808,008 502,379 12,411 84,985 1,407,783
DEPRECIATION
At 1 April 2023 - 167,866 3,075 30,398 201,339
Charge for year - 39,749 1,127 10,973 51,849
Eliminated on disposal - - - (26,222 ) (26,222 )
At 31 March 2024 - 207,615 4,202 15,149 226,966
NET BOOK VALUE
At 31 March 2024 808,008 294,764 8,209 69,836 1,180,817
At 31 March 2023 808,008 237,620 6,602 33,056 1,085,286

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 73,995
At 31 March 2024 73,995
DEPRECIATION
Charge for year 7,400
At 31 March 2024 7,400
NET BOOK VALUE
At 31 March 2024 66,595

JEBCO FOODS LIMITED (Registered number: NI644092)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 954,074 972,648
Other debtors 100 100
Directors' current accounts 351,000 -
VAT 23,577 7,669
Prepayments 5,569 4,769
1,334,320 985,186

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 493,430 154,045
Hire purchase contracts 10,000 -
Trade creditors 609,820 854,948
Tax 67,344 28,038
Social security and other taxes 5,976 503
ROI Revenue Commissioners 2,176 4,846
Pension creditor 885 466
Other creditors 636,830 323,521
Accrued expenses 10,500 4,100
1,836,961 1,370,467

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years - 53,623
Bank loans - 2-5 years - 156,458
Bank loans more 5 yr by instal - 34,448
Hire purchase contracts 25,000 -
25,000 244,529

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 34,448

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 67,437 41,731

JEBCO FOODS LIMITED (Registered number: NI644092)

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

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 41,731
Charge to Statement of Income and Retained Earnings during year 25,706
Balance at 31 March 2024 67,437

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100