Registered number
00569354
JOHN A. SPARKS & CO. LIMITED
Filleted Accounts
30 June 2024
JOHN A. SPARKS & CO. LIMITED
Registered number: 00569354
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 53,072 470,999
Investments 4 6,000 6,000
59,072 476,999
Current assets
Debtors 5 162,548 121,028
Investments held as current assets 6 2,725,478 2,508,084
Cash at bank and in hand 318,309 64,257
3,206,335 2,693,369
Creditors: amounts falling due within one year 7 (47,573) (43,132)
Net current assets 3,158,762 2,650,237
Total assets less current liabilities 3,217,834 3,127,236
Provisions for liabilities (316,854) (305,196)
Net assets 2,900,980 2,822,040
Capital and reserves
Called up share capital 27,500 27,500
Revaluation reserve 8 - 20,776
Profit and loss account 2,873,480 2,773,764
Shareholders' funds 2,900,980 2,822,040
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A P Sparks
Director
Approved by the board on 21 March 2025
JOHN A. SPARKS & CO. LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold and long leasehold buildings over 50 years
Plant and machinery over 5 years
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 400,000 58,506 92,603 551,109
Disposals (400,000) - - (400,000)
At 30 June 2024 - 58,506 92,603 151,109
Depreciation
At 1 July 2023 - 56,960 23,150 80,110
Charge for the year - 564 17,363 17,927
At 30 June 2024 - 57,524 40,513 98,037
Net book value
At 30 June 2024 - 982 52,090 53,072
At 30 June 2023 400,000 1,546 69,453 470,999
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 July 2023 1,000 5,000 6,000
At 30 June 2024 1,000 5,000 6,000
5 Debtors 2024 2023
£ £
Other debtors 162,548 121,028
6 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 2,725,478 2,508,084
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 152,188 (44,416)
7 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,000 1,000
Taxation and social security costs 485 236
Other creditors 46,088 41,896
47,573 43,132
8 Revaluation reserve 2024 2023
£ £
At 1 July 2023 20,776 20,776
Release on revaluation of land and buildings (20,776) -
At 30 June 2024 - 20,776
9 Other information
JOHN A. SPARKS & CO. LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Kempston
Mill Hill
Edenbridge
Kent
TN8 5DQ
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