Javelin Irrigation Systems Limited 05710116 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of importer, stockist and distributor of irrigation and pumping machinery Digita Accounts Production Advanced 6.30.9574.0 true 05710116 2024-01-01 2024-12-31 05710116 2024-12-31 05710116 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-12-31 05710116 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-12-31 05710116 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2024-12-31 05710116 core:RetainedEarningsAccumulatedLosses 2024-12-31 05710116 core:ShareCapital 2024-12-31 05710116 core:CurrentFinancialInstruments 2024-12-31 05710116 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05710116 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 05710116 core:OtherResidualIntangibleAssets 2024-12-31 05710116 core:FurnitureFittings 2024-12-31 05710116 core:LandBuildings core:ShortLeaseholdAssets 2024-12-31 05710116 core:MotorVehicles 2024-12-31 05710116 core:PlantMachinery 2024-12-31 05710116 1 2024-12-31 05710116 bus:SmallEntities 2024-01-01 2024-12-31 05710116 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05710116 bus:FilletedAccounts 2024-01-01 2024-12-31 05710116 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05710116 bus:RegisteredOffice 2024-01-01 2024-12-31 05710116 bus:Director3 2024-01-01 2024-12-31 05710116 bus:Director4 2024-01-01 2024-12-31 05710116 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-01-01 2024-12-31 05710116 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-01-01 2024-12-31 05710116 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2024-01-01 2024-12-31 05710116 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05710116 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 05710116 core:Goodwill 2024-01-01 2024-12-31 05710116 core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 05710116 core:FurnitureFittings 2024-01-01 2024-12-31 05710116 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 05710116 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-12-31 05710116 core:LeaseholdImprovements 2024-01-01 2024-12-31 05710116 core:MotorCars 2024-01-01 2024-12-31 05710116 core:MotorVehicles 2024-01-01 2024-12-31 05710116 core:PlantMachinery 2024-01-01 2024-12-31 05710116 countries:EnglandWales 2024-01-01 2024-12-31 05710116 1 2024-01-01 2024-12-31 05710116 2023-12-31 05710116 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 05710116 core:OtherResidualIntangibleAssets 2023-12-31 05710116 core:FurnitureFittings 2023-12-31 05710116 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 05710116 core:MotorVehicles 2023-12-31 05710116 core:PlantMachinery 2023-12-31 05710116 1 2023-12-31 05710116 2023-01-01 2023-12-31 05710116 2023-12-31 05710116 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-12-31 05710116 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-12-31 05710116 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-12-31 05710116 core:RetainedEarningsAccumulatedLosses 2023-12-31 05710116 core:ShareCapital 2023-12-31 05710116 core:CurrentFinancialInstruments 2023-12-31 05710116 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05710116 core:FurnitureFittings 2023-12-31 05710116 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 05710116 core:MotorVehicles 2023-12-31 05710116 core:PlantMachinery 2023-12-31 05710116 1 2023-12-31 05710116 1 2023-01-01 2023-12-31 05710116 1 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05710116

Javelin Irrigation Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Javelin Irrigation Systems Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Javelin Irrigation Systems Limited

Company Information

Directors

J Cunningham

P Tuxworth

Registered office

The Pump House
Belvoir Way
Fairfield Industrial Estate
Louth
LN11 0YA

 

Javelin Irrigation Systems Limited

(Registration number: 05710116)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,375

-

Tangible assets

5

57,061

109,831

 

61,436

109,831

Current assets

 

Stocks

6

228,509

227,380

Debtors

7

217,255

1,045,986

Cash at bank and in hand

 

312,986

38,887

 

758,750

1,312,253

Creditors: Amounts falling due within one year

8

(162,800)

(167,637)

Net current assets

 

595,950

1,144,616

Total assets less current liabilities

 

657,386

1,254,447

Provisions for liabilities

(2,987)

(14,192)

Net assets

 

654,399

1,240,255

Capital and reserves

 

Called up share capital

10

75,000

75,000

Retained earnings

579,399

1,165,255

Shareholders' funds

 

654,399

1,240,255

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:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 April 2025 and signed on its behalf by:
 

 

Javelin Irrigation Systems Limited

(Registration number: 05710116)
Balance Sheet as at 31 December 2024

.........................................
J Cunningham
Director

.........................................
P Tuxworth
Director

 

Javelin Irrigation Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 05710116.

The address of its registered office is:
The Pump House
Belvoir Way
Fairfield Industrial Estate
Louth
LN11 0YA
England

These financial statements cover the individual entity, Javelin Irrigation Systems Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilties denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet and the exchange differencies are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Javelin Irrigation Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Furniture, fittings and office equipment

25% and 33% reducing balance, 7 and 5 year straight line

Motor vehicles

20% and 33% straight line

Tenants' improvements

63% and 20% straight line

Intangible assets

Intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website costs

33% straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Javelin Irrigation Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2023 - 8).

 

Javelin Irrigation Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Website costs
£

Other intangible assets
£

Total
£

Cost or valuation

At 1 January 2024

19,125

5

19,130

Additions acquired separately

4,375

-

4,375

At 31 December 2024

23,500

5

23,505

Amortisation

At 1 January 2024

19,125

5

19,130

At 31 December 2024

19,125

5

19,130

Carrying amount

At 31 December 2024

4,375

-

4,375

5

Tangible assets

Tenant's improvements
£

Fixtures, fittings and office equipment
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

6,968

37,665

58,000

182,180

284,813

Additions

2,659

542

524

-

3,725

Disposals

-

(6,887)

(313)

(85,103)

(92,303)

At 31 December 2024

9,627

31,320

58,211

97,077

196,235

Depreciation

At 1 January 2024

3,051

32,014

33,765

106,152

174,982

Charge for the year

1,316

3,352

6,578

12,040

23,286

Eliminated on disposal

-

(5,864)

(2,228)

(51,002)

(59,094)

At 31 December 2024

4,367

29,502

38,115

67,190

139,174

Carrying amount

At 31 December 2024

5,260

1,818

20,096

29,887

57,061

At 31 December 2023

3,917

5,651

24,235

76,028

109,831

 

Javelin Irrigation Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Stock

228,509

227,380

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

119,932

167,310

Amounts owed by related parties

12

14,650

-

Prepayments and accrued income

 

19,405

16,257

Other debtors

 

63,268

862,419

   

217,255

1,045,986

Details of non-current trade and other debtors

£5,971 (2023 -£18,392) of other debtors is classified as non current.

 

Javelin Irrigation Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

18,373

16,950

Taxation and social security

137,113

115,927

Accruals and deferred income

7,314

29,231

Other creditors

-

5,529

162,800

167,637

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

-

5,529

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

50,000

50,000

50,000

50,000

Ordinary B of £1 each

12,500

12,500

12,500

12,500

Ordinary C of £1 each

12,500

12,500

12,500

12,500

75,000

75,000

75,000

75,000

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £63,042 (2023 - £87,870).

 

Javelin Irrigation Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

12

Related party transactions

2024

At 1 January 2024
£

Repayments by Director
£

At 31 December 2024
£

Directors' interest free loan, no formal repayment terms

(5,529)

5,529

-

 

2023

At 1 January 2023
£

Advances to Director
£

Repayments by Director
£

At 31 December 2023
£

Directors' interest free loan, no formal repayment terms

38,063

22,132

(65,724)

(5,529)