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Registration number: 07274630

Jutrad Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Jutrad Limited

(Registration number: 07274630)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

(650,000)

(700,000)

Tangible assets

4

721,927

769,227

 

71,927

69,227

Current assets

 

Stocks

500

500

Debtors

5

516,303

494,836

Cash at bank and in hand

 

160,582

49,886

 

677,385

545,222

Creditors: Amounts falling due within one year

6

(83,593)

(134,912)

Net current assets

 

593,792

410,310

Total assets less current liabilities

 

665,719

479,537

Provisions for liabilities

(4,500)

-

Net assets

 

661,219

479,537

Capital and reserves

 

Called up share capital

99

99

Retained earnings

661,120

479,438

Shareholders' funds

 

661,219

479,537

 

Jutrad Limited

(Registration number: 07274630)

Balance Sheet as at 30 June 2024 (continued)

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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 26 March 2025 and signed on its behalf by:
 

.........................................

D A Manfredi

Director

 

Jutrad Limited

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

1

Accounting policies

Statutory information

Jutrad Limited is a private company, limited by shares, domiciled in England and Wales, company number 07274630. The registered office is at 57 City Road, Sheffield, S2 5HE.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue is recognised when services have been delivered to the service users. Revenue is recognised when services have been delivered to the service users.

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 income 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.

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.

 

Jutrad Limited

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

1

Accounting policies (continued)

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

Buildings

4% - straight line

Furniture, fittings and equipment

15% - reducing balance

Motor vehicles

20% - reducing balance

Goodwill

Negative goodwill is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 29).

 

Jutrad Limited

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

3

Intangible assets

Goodwill
 £

Cost or valuation

At 1 July 2023

(1,250,000)

At 30 June 2024

(1,250,000)

Amortisation

At 1 July 2023

(550,000)

Amortisation charge

(50,000)

At 30 June 2024

(600,000)

Carrying amount

At 30 June 2024

(650,000)

At 30 June 2023

(700,000)

4

Tangible assets

Freehold land and buildings
£

Furniture, fittings and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

1,250,000

85,962

7,250

1,343,212

Additions

-

3,315

-

3,315

At 30 June 2024

1,250,000

89,277

7,250

1,346,527

Depreciation

At 1 July 2023

506,000

62,022

5,963

573,985

Charge for the year

46,000

4,358

257

50,615

At 30 June 2024

552,000

66,380

6,220

624,600

Carrying amount

At 30 June 2024

698,000

22,897

1,030

721,927

At 30 June 2023

744,000

23,940

1,287

769,227

 

Jutrad Limited

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

5

Debtors

2024
£

2023
£

Trade debtors

111,868

90,526

Prepayments

4,435

4,310

Other debtors

400,000

400,000

 

516,303

494,836

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

12,396

5,790

Taxation and social security

24,195

10,167

Accruals and deferred income

45,294

42,337

Other creditors

1,708

75,363

Directors' current account

-

1,255

83,593

134,912

7

Related party transactions

The company has received an interest free loan of £nil (2023: £20,000) from AJM Property Letting Limited, a company in which Mr A C Manfredi and Mr J D Manfredi, who are directors of the company, are directors and shareholders. The amount due at the Balance Sheet date was £nil (2023: £70,000).

In an earlier year the company provided an interest free loan to New Comp Limited, a company in which Mr A C Manfredi and Mr J D Manfredi are directors. The amount oustanding on the loan at the Balance Sheet date was £400,000 (2023: £400,000).