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REGISTERED NUMBER: 04512740 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

JACK SMITH & SONS LIMITED

JACK SMITH & SONS LIMITED (REGISTERED NUMBER: 04512740)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JACK SMITH & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: J Smith
P Smith
J P Smith



REGISTERED OFFICE: Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ



REGISTERED NUMBER: 04512740 (England and Wales)



ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ



BANKERS: National Westminster Bank plc
24 Deansgate
Bolton
Lancashire
BL1 1BN

JACK SMITH & SONS LIMITED (REGISTERED NUMBER: 04512740)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,818 24,873
18,818 24,873

CURRENT ASSETS
Debtors 6 446 803
Cash at bank 12,959 14,145
13,405 14,948
CREDITORS
Amounts falling due within one year 7 20,857 25,124
NET CURRENT LIABILITIES (7,452 ) (10,176 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,366

14,697

PROVISIONS FOR LIABILITIES 4,649 4,649
NET ASSETS 6,717 10,048

CAPITAL AND RESERVES
Called up share capital 320 320
Retained earnings 6,397 9,728
SHAREHOLDERS' FUNDS 6,717 10,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JACK SMITH & SONS LIMITED (REGISTERED NUMBER: 04512740)

BALANCE SHEET - continued
30 NOVEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





J P Smith - Director


JACK SMITH & SONS LIMITED (REGISTERED NUMBER: 04512740)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Jack Smith & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

JACK SMITH & SONS LIMITED (REGISTERED NUMBER: 04512740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 30,000
AMORTISATION
At 1 December 2023
and 30 November 2024 30,000
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 December 2023
and 30 November 2024 24,295 68,043 92,338
DEPRECIATION
At 1 December 2023 22,667 44,798 67,465
Charge for year 244 5,811 6,055
At 30 November 2024 22,911 50,609 73,520
NET BOOK VALUE
At 30 November 2024 1,384 17,434 18,818
At 30 November 2023 1,628 23,245 24,873

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 446 803

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,604 18,696
Trade creditors 3,229 3,345
Tax 621 706
Social security and other taxes - 252
Directors current account 3,352 73
Accruals and deferred income 2,051 2,052
20,857 25,124