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Registration number: 09085358

Jason Threadgold North Lincs Limited


Filleted Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Jason Threadgold North Lincs Limited

(Registration number: 09085358)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,190

5,190

Tangible assets

5

1,078,168

893,548

 

1,083,358

898,738

Current assets

 

Stocks

16,132

16,132

Debtors

6

488,500

646,018

Cash at bank and in hand

 

53,624

58,589

 

558,256

720,739

Creditors: Amounts falling due within one year

7

(597,606)

(487,824)

Net current (liabilities)/assets

 

(39,350)

232,915

Total assets less current liabilities

 

1,044,008

1,131,653

Creditors: Amounts falling due after more than one year

7

(773,536)

(476,064)

Provisions for liabilities

(123,159)

(136,757)

Net assets

 

147,313

518,832

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

147,303

518,822

Shareholders' funds

 

147,313

518,832

 

Jason Threadgold North Lincs Limited

(Registration number: 09085358)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 


Mr J Threadgold
Director

   
 

Jason Threadgold North Lincs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 09085358

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Jason Threadgold North Lincs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% per annum on cost

Motor vehicles

15% per annum on written down value

Furniture, fittings and equipment

25% per annum on written down value

Amortisation

Intangible assets have not been amortised as the directors are of the opinion that the assets have an infinite life and the residual value will at least be equal to the cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Jason Threadgold North Lincs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 14 (2023 - 12).

 

Jason Threadgold North Lincs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

5,190

5,190

At 30 June 2024

5,190

5,190

Carrying amount

At 30 June 2024

5,190

5,190

At 30 June 2023

5,190

5,190

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

365,722

172,399

690,763

1,228,884

Additions

-

63,976

314,711

378,687

Disposals

-

(875)

(101,040)

(101,915)

At 30 June 2024

365,722

235,500

904,434

1,505,656

Depreciation

At 1 July 2023

29,666

100,386

205,284

335,336

Charge for the year

7,314

29,739

88,765

125,818

Eliminated on disposal

-

(250)

(33,416)

(33,666)

At 30 June 2024

36,980

129,875

260,633

427,488

Carrying amount

At 30 June 2024

328,742

105,625

643,801

1,078,168

At 30 June 2023

336,056

72,013

485,479

893,548

Included within the net book value of land and buildings above is £261,936 (2023 - £267,882) in respect of freehold land and buildings and £66,806 (2023 - £68,174) in respect of long leasehold land and buildings.
 

 

Jason Threadgold North Lincs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

96,784

136,054

Amounts owed by related parties

10

379,124

504,789

Prepayments

 

11,675

5,175

Social security and other taxes

 

917

-

   

488,500

646,018

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

243,895

138,373

Trade payables

 

158,769

199,767

Social security and other taxes

 

133,274

139,058

Other payables

 

61,668

10,626

 

597,606

487,824

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

773,536

476,064

 

Jason Threadgold North Lincs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

19,150

19,150

Other borrowings

224,745

119,223

243,895

138,373

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

47,476

59,872

Other borrowings

726,060

416,192

773,536

476,064

Included in bank and other borrowing is £706,580, which is secured on the assets to which they relate (2023, £407,940).

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

10

Related party transactions

During the year the company loaned the directors £379,124, (2023 - £504,789). This repayable on demand and is charged interest at the HMRC advisory rates.