Company Registration No. 2057769 (England and Wales)
J. Cooney Limited
Unaudited accounts
for the year ended 30 June 2024
J. Cooney Limited
Unaudited accounts
Contents
J. Cooney Limited
Company Information
for the year ended 30 June 2024
Directors
James Patrick Cooney
James Charles Cooney
Catherine Cooney
Secretary
James Patrick Cooney
Company Number
2057769 (England and Wales)
Registered Office
Albion Road
Rochdale
Lancashire
OL11 4HQ
Accountants
Amel (UK) Limited
54 Parkstone Avenue
Whitefield
Manchester
M45 7QH
J. Cooney Limited
Statement of financial position
as at 30 June 2024
Tangible assets
2,160,694
758,215
Inventories
469,000
554,000
Cash at bank and in hand
274,355
636,203
Creditors: amounts falling due within one year
(1,201,636)
(462,607)
Net current (liabilities)/assets
(28,136)
1,253,258
Total assets less current liabilities
2,132,558
2,011,473
Provisions for liabilities
Deferred tax
(70,272)
(52,055)
Net assets
2,062,286
1,959,418
Called up share capital
100
100
Profit and loss account
2,062,186
1,959,318
Shareholders' funds
2,062,286
1,959,418
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by
James Patrick Cooney
Director
Company Registration No. 2057769
J. Cooney Limited
Notes to the Accounts
for the year ended 30 June 2024
J. Cooney Limited is a private company, limited by shares, registered in England and Wales, registration number 2057769. The registered office is Albion Road, Rochdale, Lancashire, OL11 4HQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25.0% on a straight line basis
Motor vehicles
25.0% on a straight line basis
Computer equipment
25.0% on a straight line basis
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
J. Cooney Limited
Notes to the Accounts
for the year ended 30 June 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
During the year there was a directors pension contribution of £60,000.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2023
468,669
1,352,150
852,056
43,700
2,716,575
Additions
1,326,000
40,659
226,075
-
1,592,734
Disposals
-
-
(63,350)
-
(63,350)
At 30 June 2024
1,794,669
1,392,809
1,014,781
43,700
4,245,959
At 1 July 2023
-
1,192,922
725,600
39,838
1,958,360
Charge for the year
-
106,191
81,190
2,874
190,255
On disposals
-
-
(63,350)
-
(63,350)
At 30 June 2024
-
1,299,113
743,440
42,712
2,085,265
At 30 June 2024
1,794,669
93,696
271,341
988
2,160,694
At 30 June 2023
468,669
159,228
126,456
3,862
758,215
The company aquired land during the year at a cost of £1,326,000. This is in addition to other land and buildings investments of £468,669
Amounts falling due within one year
Trade debtors
206,553
459,234
Accrued income and prepayments
72,118
66,428
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
223,352
151,215
Taxes and social security
30,262
96,952
Other creditors
1,890
6,916
Loans from directors
686,140
2,195
J. Cooney Limited
Notes to the Accounts
for the year ended 30 June 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
70,272
52,055
Provision at start of year
52,055
57,946
Charged/(credited) to the profit and loss account
18,217
(5,891)
Provision at end of year
70,272
52,055
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan to company
(2,195)
-
2,220
(4,415)
Director's loan to company
-
-
681,725
(681,725)
(2,195)
-
683,945
(686,140)
11
Transactions with related parties
During the year the company made the following related party transactions:
Cooney Construction Limited (immediate and ultimate parent company)
Cooney Construction Limited is a dormant company which holds 100% of the share capital of J. Cooney Limited. At the balance sheet date the amount due (to)/from Cooney Construction Limited was (£1501); 2023 - (£1254)
Mr J.P. Cooney and Mr J.C.Cooney (Directors of J. Cooney Limited)
Land at Albion Road, Sparthbottom Road and Norman Road is owned jointly by Mr J.P. Cooney and Mr J.C. Cooney who are directors of the company. The land is rented at a market value of £90,000 per annum (2023 - £90,000). At the balance sheet date there was an accrual of rent due to Mr J.P. Cooney and Mr J.C. Cooney of (£239,370) (2022 - £187500)
At the balance sheet date there is a loan owed to the directors of £686,140.
The company is controlled by Cooney Construction Limited which is the immediate and ultimate parent company and holds 100% of the share capital of J. Cooney Limited
13
Average number of employees
During the year the average number of employees was 28 (2023: 26).