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COMPANY REGISTRATION NUMBER: 00468497
JONATHAN ALCOCK & SONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2024
JONATHAN ALCOCK & SONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
1
1
Tangible assets
6
1,241,899
1,232,348
------------
------------
1,241,900
1,232,349
Current assets
Stocks
7
17,773
16,620
Debtors
8
129,304
172,157
Cash at bank and in hand
173,400
319,092
---------
---------
320,477
507,869
Creditors: amounts falling due within one year
9
( 615,401)
( 490,667)
---------
---------
Net current (liabilities)/assets
( 294,924)
17,202
------------
------------
Total assets less current liabilities
946,976
1,249,551
Creditors: amounts falling due after more than one year
10
( 35,797)
( 261,497)
Provisions
11
( 64,766)
( 79,555)
---------
------------
Net assets
846,413
908,499
---------
------------
Capital and reserves
Called up share capital
2,600
2,600
Profit and loss account
843,813
905,899
---------
---------
Shareholders funds
846,413
908,499
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JONATHAN ALCOCK & SONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
B Parker
Director
Company registration number: 00468497
JONATHAN ALCOCK & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brook House, Brook Road, Cheadle, Cheshire, SK8 1PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
3.1 Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
3.2 Disclosure exemptions
The disclosure requirements of section 1A of FRS 102 have been applied other than where the additional disclosure is required to show a true and fair view.
3.3 Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, being that of funeral directors. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
3.4 Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
3.5 Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
3.6 Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
3.7 Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
25% per annum straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
3.8 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
3.9 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2.5% per annum straight line
Fixtures and fittings
-
20% per annum reducing balance
Motor vehicles
-
20% per annum reducing balance
3.10 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3.11 Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3.12 Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
3.13 Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
3.14 Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2023: 21 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
135,000
---------
Amortisation
At 1 January 2024 and 31 December 2024
134,999
---------
Carrying amount
At 31 December 2024
1
---------
At 31 December 2023
1
---------
6. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
1,350,641
209,219
487,060
2,046,920
Additions
12,531
6,150
88,115
106,796
Disposals
( 68,782)
( 68,782)
------------
---------
---------
------------
At 31 December 2024
1,363,172
215,369
506,393
2,084,934
------------
---------
---------
------------
Depreciation
At 1 January 2024
311,031
144,428
359,113
814,572
Charge for the year
34,079
9,895
40,911
84,885
Disposals
( 56,422)
( 56,422)
------------
---------
---------
------------
At 31 December 2024
345,110
154,323
343,602
843,035
------------
---------
---------
------------
Carrying amount
At 31 December 2024
1,018,062
61,046
162,791
1,241,899
------------
---------
---------
------------
At 31 December 2023
1,039,610
64,791
127,947
1,232,348
------------
---------
---------
------------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 December 2024
51,540
--------
At 31 December 2023
--------
7. Stocks
2024
2023
£
£
Stock
17,773
16,620
--------
--------
8. Debtors
2024
2023
£
£
Trade debtors
120,890
102,468
Other debtors
8,414
69,689
---------
---------
129,304
172,157
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
35,478
Trade creditors
29,062
16,756
Corporation tax
6,144
59,647
Social security and other taxes
20,165
Other creditors
580,195
358,621
---------
---------
615,401
490,667
---------
---------
Included in other creditors is amount of £25,293 (2023 - £49,808) due to related parties.
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
261,497
Other creditors
35,797
--------
---------
35,797
261,497
--------
---------
Included in other creditors falling due after more than one year is an amount of £- (2023 - £261,497) in respect of a bank loan. The bank loan was repaid in full during the year.
11. Provisions
Deferred tax (note 12)
£
At 1 January 2024
79,555
Charge against provision
( 14,789)
--------
At 31 December 2024
64,766
--------
12. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 11)
64,766
79,555
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
64,766
79,555
--------
--------
13. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2024
2023
£
£
Recognised in other operating income:
Government grants recognised directly in income
1,000
-------
----
14. Directors' advances, credits and guarantees
Included in creditors are loans from directors 2024: £492,528 (2023: £266,163). The loans carry an interest rate of 8% per annum and are repayable on demand.
15. Related party transactions
Mr S Kenny Mr Sean Kenny is the partner of the director and shareholder Ms S Parker. The amount due to the related party at 31 December 2024 £25,293 (2023 - £49,808). The amount is subject to interest at 8% per annum and is repayable on demand. Mr Kenny has also entered into a Green Commute Initiative agreement with the company. The amount owed by the related party at 31 December 2024 £2,469 (2023 - £3,456).