Registered number
06020924
J Shorrock & Son Limited
Unaudited Filleted Accounts
For the Year Ended
30 September 2024
J Shorrock & Son Limited
Registered number: 06020924
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,459 20,337
Current assets
Stocks 3,190 3,030
Debtors 4 17,020 52,020
Cash at bank and in hand 92,174 122,920
112,384 177,970
Creditors: amounts falling due within one year 5 (29,349) (44,731)
Net current assets 83,035 133,239
Total assets less current liabilities 99,494 153,576
Provisions for liabilities (3,127) (3,864)
Net assets 96,367 149,712
Capital and reserves
Called up share capital 120 120
Profit and loss account 96,247 149,592
Shareholders' funds 96,367 149,712
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J A Ratcliffe
Director
Approved by the board on 9 May 2025
J Shorrock & Son Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Office equipment over 3 years
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 57,698 37,245 94,943
Additions 585 - 585
At 30 September 2024 58,283 37,245 95,528
Depreciation
At 1 October 2023 43,252 31,354 74,606
Charge for the year 2,498 1,965 4,463
At 30 September 2024 45,750 33,319 79,069
Net book value
At 30 September 2024 12,533 3,926 16,459
At 30 September 2023 14,446 5,891 20,337
4 Debtors 2024 2023
£ £
Other debtors 17,020 52,020
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,759 14,564
Taxation and social security costs 9,841 24,814
Other creditors 5,749 5,353
29,349 44,731
6 Other information
J Shorrock & Son Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3a Hall House Industrial Estate
Beehive Lane
Kendal
Cumbria
LA8 0AH
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