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Company No: 09419361 (England and Wales)

JD BRIGGS LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

JD BRIGGS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

JD BRIGGS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
JD BRIGGS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 11,276 28,741
Tangible assets 4 1,049 1,805
12,325 30,546
Current assets
Debtors 5 13,791 18,734
Cash at bank and in hand 6 156,108 185,463
169,899 204,197
Creditors: amounts falling due within one year 7 ( 5,998) ( 39,166)
Net current assets 163,901 165,031
Total assets less current liabilities 176,226 195,577
Net assets 176,226 195,577
Capital and reserves
Called-up share capital 100 100
Profit and loss account 176,126 195,477
Total shareholders' funds 176,226 195,577

For the financial 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of JD Briggs Ltd (registered number: 09419361) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J D Briggs
Director

19 March 2025

JD BRIGGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
JD BRIGGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

JD Briggs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income Statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 15 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 170,620 170,620
At 31 December 2024 170,620 170,620
Accumulated amortisation
At 01 January 2024 141,879 141,879
Charge for the financial year 17,465 17,465
At 31 December 2024 159,344 159,344
Net book value
At 31 December 2024 11,276 11,276
At 31 December 2023 28,741 28,741

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2024 529 929 3,201 4,659
At 31 December 2024 529 929 3,201 4,659
Accumulated depreciation
At 01 January 2024 249 642 1,963 2,854
Charge for the financial year 42 96 618 756
At 31 December 2024 291 738 2,581 3,610
Net book value
At 31 December 2024 238 191 620 1,049
At 31 December 2023 280 287 1,238 1,805

5. Debtors

2024 2023
£ £
Amounts owed by directors 13,750 18,695
Prepayments 41 39
13,791 18,734

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 32,524 105,463
Short-term deposits 123,584 80,000
156,108 185,463

7. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 199 157
Corporation tax 5,799 39,009
5,998 39,166

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Loan to company director 13,500 18,695

At the year end the company had made an interest free loan to a director for £13,500. This was repaid after the year end.