Company Registration No. 03615996 (England and Wales)
Jamie Smith Estates Limited
Unaudited accounts
for the year ended 31 August 2024
Jamie Smith Estates Limited
Unaudited accounts
Contents
Jamie Smith Estates Limited
Company Information
for the year ended 31 August 2024
Company Number
03615996 (England and Wales)
Registered Office
Ferry Cottage, Lashbrook Road
Lower Shiplake
Henley-On-Thames
Oxfordshire
RG9 3NX
England
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
Jamie Smith Estates Limited
Statement of financial position
as at 31 August 2024
Tangible assets
239,750
538,597
Inventories
2,990,905
3,397,882
Cash at bank and in hand
122,862
98,258
Creditors: amounts falling due within one year
(210,028)
(236,655)
Net current assets
3,445,476
3,650,515
Total assets less current liabilities
3,685,226
4,189,112
Creditors: amounts falling due after more than one year
(1,250,919)
(1,676,705)
Provisions for liabilities
Deferred tax
(32,980)
(26,521)
Net assets
2,401,327
2,485,886
Called up share capital
1,100
1,100
Revaluation reserve
-
56,340
Profit and loss account
2,400,227
2,428,446
Shareholders' funds
2,401,327
2,485,886
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 May 2025 and were signed on its behalf by
Mr J.L. Smith
Director
Company Registration No. 03615996
Jamie Smith Estates Limited
Notes to the Accounts
for the year ended 31 August 2024
Jamie Smith Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 03615996. The registered office is Ferry Cottage, Lashbrook Road, Lower Shiplake, Henley-On-Thames, Oxfordshire, RG9 3NX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
25% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Jamie Smith Estates Limited
Notes to the Accounts
for the year ended 31 August 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
390,000
101,333
259,738
751,071
Additions
-
6,695
131,500
138,195
Disposals
(390,000)
-
-
(390,000)
At 31 August 2024
-
108,028
391,238
499,266
At 1 September 2023
-
84,752
127,722
212,474
Charge for the year
-
5,819
41,223
47,042
At 31 August 2024
-
90,571
168,945
259,516
At 31 August 2024
-
17,457
222,293
239,750
At 31 August 2023
390,000
16,581
132,016
538,597
Carrying amount of land and buildings on cost basis
-
320,444
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
3,061
- Motor vehicles
221,560
91,164
Work in progress
2,990,905
3,397,882
Jamie Smith Estates Limited
Notes to the Accounts
for the year ended 31 August 2024
Amounts falling due within one year
Accrued income and prepayments
15,179
16,385
Other debtors
505,061
309,593
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
10,410
Obligations under finance leases and hire purchase contracts
53,980
39,915
Trade creditors
90,200
65,556
Taxes and social security
30,660
17,068
Other creditors
33,064
100,261
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,099,054
1,609,985
Obligations under finance leases and hire purchase contracts
151,865
66,720
Aggregate of amounts that fall due for payment after five years
-
169,255
There are fixed charges over the freehold land and buildings, floating charges and negative pledges as security against the loans.
9
Deferred taxation
2024
2023
Accelerated capital allowances
32,980
13,305
Revaluation of land and buildings
-
13,216
Provision at start of year
26,521
24,257
Charged to the profit and loss account
6,459
2,264
Provision at end of year
32,980
26,521
Jamie Smith Estates Limited
Notes to the Accounts
for the year ended 31 August 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
37,564
52,659
4,995
85,228
37,564
52,659
4,995
85,228
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Average number of employees
During the year the average number of employees was 3 (2023: 3).