Company Registration No. 04562266 (England and Wales)
R & J MACHINERY LIMITED
ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
R & J MACHINERY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
R & J MACHINERY LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
319,741
322,024
Investment properties
5
984,834
800,000
1,304,575
1,122,024
Current assets
Stocks
894,033
763,617
Debtors
1,291,809
907,379
Cash at bank and in hand
2,769,121
2,615,644
4,954,963
4,286,640
Creditors: amounts falling due within one year
(782,119)
(748,491)
Net current assets
4,172,844
3,538,149
Total assets less current liabilities
5,477,419
4,660,173
Provisions for liabilities
7
(53,797)
(46,641)
Net assets
5,423,622
4,613,532
Capital and reserves
Called up share capital
8
1
1
Revaluation reserve
9
164,479
164,479
Profit and loss reserves
5,259,142
4,449,052
Total equity
5,423,622
4,613,532
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
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 31 August 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 member has 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.
R & J MACHINERY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 31 March 2025.
J Inman
Director
Company Registration No. 04562266
R & J MACHINERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
R & J Machinery Limited is a private company limited by shares incorporated in England and Wales. The registered office is Colinton House, Leicester Road, Bedworth, Warwickshire, CV12 8AB.
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 have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Factory Improvements
- see notes to these accounts
Plant and machinery
- 25% Reducing balance basis
Fixtures, fittings & equipment
- 25% Reducing balance basis
Motor vehicles
- 25% Reducing balance basis
Depreciation is not charged on buildings when the estimated residual value exceeds their present carrying value.
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.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.
1.6
Stock
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
R & J MACHINERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Cash at bank
Cash and cash equivalents include deposits held at call with banks.
1.8
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 measured at transaction price.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities
Basic financial liabilities, including creditors are classified as debt, are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
R & J MACHINERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2023 - 1).
4
Tangible fixed assets
Total
£
Cost or valuation
At 1 September 2023
484,387
Additions
52,018
Disposals
(23,926)
Other changes
(39,943)
At 31 August 2024
472,536
Depreciation and impairment
At 1 September 2023
162,363
Depreciation charged in the year
9,355
Eliminated in respect of disposals
(18,923)
At 31 August 2024
152,795
Carrying amount
At 31 August 2024
319,741
At 31 August 2023
322,024
5
Investment property
2024
£
Fair value
At 1 September 2023
800,000
Additions
184,834
At 31 August 2024
984,834
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
7
53,797
46,641
R & J MACHINERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
7
Deferred taxation
The following is the analysis of the deferred tax balances for financial reporting purposes:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
15,215
8,059
Revaluations
38,582
38,582
53,797
46,641
2024
Movements in the year:
£
Liability at 1 September 2023
46,641
Charge to profit or loss
7,156
Liability at 31 August 2024
53,797
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1
1
1
9
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
164,479
164,479
10
Parent company
The company is part of a small group and is associated with R & J Machinery Holdings Ltd, a company registered in England & Wales. R & J Machinery Holdings Ltd is the ultimate parent company and owns the entire issued share capital of its associated company.