Company registration number 00399667 (England and Wales)
JOHN JAQUES AND SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
JOHN JAQUES AND SON LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
JOHN JAQUES AND SON LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JOHN JAQUES AND SON LIMITED FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Jaques and Son Limited for the year ended 30 June 2024 set out on pages 2 to 9 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of John Jaques and Son Limited, as a body, in accordance with the terms of our engagement letter dated 20 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of John Jaques and Son Limited and state those matters that we have agreed to state to the board of directors of John Jaques and Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Jaques and Son Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that John Jaques and Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Jaques and Son Limited. You consider that John Jaques and Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of John Jaques and Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
27 March 2025
Chartered Accountants
Piper House
4 Dukes Court
Bognor Road
Chichester
West Sussex
P019 8FX
JOHN JAQUES AND SON LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
177,006
1,610,833
Current assets
Stocks
1,797,639
2,311,099
Debtors
4
784,507
1,321,847
Cash at bank and in hand
244,766
2,972
2,826,912
3,635,918
Creditors: amounts falling due within one year
5
(2,333,348)
(5,060,692)
Net current assets/(liabilities)
493,564
(1,424,774)
Total assets less current liabilities
670,570
186,059
Creditors: amounts falling due after more than one year
6
-
0
(1,066,175)
Net assets/(liabilities)
670,570
(880,116)
Capital and reserves
Called up share capital
7
6,000
6,000
Revaluation reserve
-
0
588,565
Profit and loss reserves
664,570
(1,474,681)
Total equity
670,570
(880,116)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

JOHN JAQUES AND SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
Joe J P Jaques
Director
Company registration number 00399667 (England and Wales)
JOHN JAQUES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

John Jaques and Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 17B, Eden House, Enterprise Way, Edenbridge, Kent, TN8 6HF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company entered into a Company Voluntary Arrangement on 18th October 2023, the directors have agreed to give thetrueir continued support to meet any ongoing payments as they become due, if required. However, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.  Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Nil
Land and buildings Leasehold
20% Straight line
Plant and machinery
20% Straight line
Fixtures, fittings & equipment
20% / 25% Straight line
Motor vehicles
20% Straight line
Other assets
Not depreciated

Freehold land and assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

JOHN JAQUES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
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.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

JOHN JAQUES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 20 (2023 - 30).

JOHN JAQUES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
3
Tangible fixed assets
Land and buildings Freehold
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Other assets
Total
£
£
£
£
£
£
£
Cost
At 1 July 2023
1,400,000
30,019
357,282
265,699
5,745
150,000
2,208,745
Disposals
(1,400,000)
-
0
-
0
-
0
-
0
-
0
(1,400,000)
At 30 June 2024
-
0
30,019
357,282
265,699
5,745
150,000
808,745
Depreciation and impairment
At 1 July 2023
-
0
17,573
351,667
222,927
5,745
-
0
597,912
Depreciation charged in the year
-
0
6,004
4,123
23,700
-
0
-
0
33,827
At 30 June 2024
-
0
23,577
355,790
246,627
5,745
-
0
631,739
Carrying amount
At 30 June 2024
-
0
6,442
1,492
19,072
-
0
150,000
177,006
At 30 June 2023
1,400,000
12,446
5,615
42,772
-
0
150,000
1,610,833
JOHN JAQUES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
637,432
1,124,234
Other debtors
147,075
197,613
784,507
1,321,847
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
464,516
Trade creditors
325,610
2,004,749
Taxation and social security
172,547
602,791
Other creditors
1,835,191
1,988,636
2,333,348
5,060,692

Included in other creditors are amounts relating to a Company Voluntary Arrangement of which £582,122 (2023: £nil) are secured and £574,157 (2023: £nil) are unsecured.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
1,010,598
Other creditors
-
0
55,577
-
0
1,066,175
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
6,000
6,000
6,000
6,000
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
37,500
133,375
JOHN JAQUES AND SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
9
Parent company

The parent company is Jaques Holdings Limited, a company registered in England and Wales

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