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Registration number: 02028386

Jethurst Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Jethurst Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Jethurst Limited

Company Information

Director

Paul Edward Owen

Company secretary

Anne Margaret Owen

Registered office

Direct Diesels
Westport Road
Burslem
Stoke on Trent
ST6 4JF

Accountants

Mill House Accountancy Limited
Chartered Accountants
Unit 2, The Keele Centre
Three Mile Lane
Keele
Newcastle-under-Lyme
Staffordshire
ST5 5HH

 

Jethurst Limited

(Registration number: 02028386)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

371,032

381,824

Investment property

5

2,735,422

3,318,422

 

3,106,454

3,700,246

Current assets

 

Stocks

6

52,750

277,000

Debtors

7

348,957

163,119

Cash at bank and in hand

 

547,023

306,594

 

948,730

746,713

Creditors: Amounts falling due within one year

8

(394,878)

(396,041)

Net current assets

 

553,852

350,672

Total assets less current liabilities

 

3,660,306

4,050,918

Creditors: Amounts falling due after more than one year

8

(70,000)

(70,000)

Provisions for liabilities

(321,077)

(457,015)

Net assets

 

3,269,229

3,523,903

Capital and reserves

 

Called up share capital

9

1,300

1,300

Revaluation reserve

1,280,243

1,863,243

Retained earnings

1,987,686

1,659,360

Shareholders' funds

 

3,269,229

3,523,903

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.

Director's 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 director acknowledges 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2025
 

 

Jethurst Limited

(Registration number: 02028386)
Balance Sheet as at 30 June 2024

.........................................
Paul Edward Owen
Director

 

Jethurst 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 & Wales.

The address of its registered office is:
Direct Diesels
Westport Road
Burslem
Stoke on Trent
ST6 4JF
United Kingdom

These financial statements were authorised for issue by the director on 28 March 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Jethurst Limited

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

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Buildings

2% Straight line

Plant & Machinery

25% Reducing balance

Motor Vehicles

25% Reducing balance

Fixtures & Fittings

25% Reducing balance

Computer Equipment

25% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.

 

Jethurst Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Jethurst Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

417,000

6,995

19,000

99,878

542,873

Disposals

-

-

-

(74,787)

(74,787)

At 30 June 2024

417,000

6,995

19,000

25,091

468,086

Depreciation

At 1 July 2023

41,700

6,731

16,458

96,160

161,049

Charge for the year

8,340

170

636

930

10,076

Eliminated on disposal

-

-

-

(74,071)

(74,071)

At 30 June 2024

50,040

6,901

17,094

23,019

97,054

Carrying amount

At 30 June 2024

366,960

94

1,906

2,072

371,032

At 30 June 2023

375,300

264

2,542

3,718

381,824

Included within the net book value of land and buildings above is £366,960 (2023 - £375,300) in respect of freehold land and buildings.
 

 

Jethurst Limited

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

5

Investment properties

2024
£

At 1 July

3,318,422

Fair value adjustments

(583,000)

At 30 June

2,735,422

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

52,750

277,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

120,011

113,196

Prepayments

32,400

2,400

Other debtors

196,546

47,523

 

348,957

163,119

 

Jethurst Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

56,180

72,674

Taxation and social security

99,616

95,936

Accruals and deferred income

43,726

30,585

Other creditors

195,356

196,846

394,878

396,041

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

70,000

70,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

C Ordinary of £1 each

100

100

100

100

B Ordinary of £1 each

100

100

100

100

D Ordinary of £1 each

100

100

100

100

1,300

1,300

1,300

1,300

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(583,000)

(583,000)