Acorah Software Products - Accounts Production 16.3.350 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 08198878 Mr J Down Mrs J Down iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08198878 2023-09-30 08198878 2024-09-30 08198878 2023-10-01 2024-09-30 08198878 frs-core:CurrentFinancialInstruments 2024-09-30 08198878 frs-core:Non-currentFinancialInstruments 2024-09-30 08198878 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-09-30 08198878 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08198878 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-30 08198878 frs-core:MotorVehicles 2024-09-30 08198878 frs-core:MotorVehicles 2023-10-01 2024-09-30 08198878 frs-core:MotorVehicles 2023-09-30 08198878 frs-core:PlantMachinery 2024-09-30 08198878 frs-core:PlantMachinery 2023-10-01 2024-09-30 08198878 frs-core:PlantMachinery 2023-09-30 08198878 frs-core:ShareCapital 2024-09-30 08198878 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 08198878 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08198878 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 08198878 frs-bus:SmallEntities 2023-10-01 2024-09-30 08198878 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 08198878 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08198878 frs-bus:Director1 2023-10-01 2024-09-30 08198878 frs-bus:Director2 2023-10-01 2024-09-30 08198878 frs-countries:EnglandWales 2023-10-01 2024-09-30 08198878 2022-09-30 08198878 2023-09-30 08198878 2022-10-01 2023-09-30 08198878 frs-core:CurrentFinancialInstruments 2023-09-30 08198878 frs-core:Non-currentFinancialInstruments 2023-09-30 08198878 frs-core:ShareCapital 2023-09-30 08198878 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 08198878
J Down Contracting Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Blue Penguin Chartered Accountants
16 Claremont Drive
Taunton
Somerset
TA1 4JF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08198878
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 707,515 681,021
707,515 681,021
CURRENT ASSETS
Stocks 5 83,688 61,535
Debtors 6 59,751 61,938
Cash at bank and in hand 177,700 117,884
321,139 241,357
Creditors: Amounts Falling Due Within One Year 7 (137,186 ) (91,494 )
NET CURRENT ASSETS (LIABILITIES) 183,953 149,863
TOTAL ASSETS LESS CURRENT LIABILITIES 891,468 830,884
Creditors: Amounts Falling Due After More Than One Year 8 (569,227 ) (582,463 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (23,225 ) (21,315 )
NET ASSETS 299,016 227,106
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 298,916 227,006
SHAREHOLDERS' FUNDS 299,016 227,106
Page 1
Page 2
For the year ending 30 September 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Down
Director
30/05/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
J Down Contracting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08198878 . The registered office is Liftknocker Cottage, Coxhill, North Newton, Somerset, TA7 0BT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
2.2. Turnover
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.
2.3. 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:
Freehold 2% Straight Line
Plant & Machinery 15% Straight Line
Motor Vehicles 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
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.
2.5. Stocks and Work in Progress
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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 October 2023 632,832 132,748 104,838 870,418
Additions - 73,668 - 73,668
As at 30 September 2024 632,832 206,416 104,838 944,086
Depreciation
As at 1 October 2023 34,209 90,070 65,118 189,397
Provided during the period 12,657 24,587 9,930 47,174
As at 30 September 2024 46,866 114,657 75,048 236,571
Net Book Value
As at 30 September 2024 585,966 91,759 29,790 707,515
As at 1 October 2023 598,623 42,678 39,720 681,021
5. Stocks
2024 2023
£ £
Stock 83,688 54,202
Work in progress - 7,333
83,688 61,535
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 59,751 61,938
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 56,705 31,778
Bank loans and overdrafts 4,193 3,583
Corporation tax 16,003 18,613
Other taxes and social security 253 -
VAT 57,920 35,408
Accruals and deferred income 2,112 2,112
137,186 91,494
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 288,594 293,397
Directors loan account 280,633 289,066
569,227 582,463
9. Secured Creditors
Of the creditors, the following amounts are secured by way of a charge over the land and buildings owned by the company:
2024 2023
£ £
Bank loans and overdrafts 292,787 296,980
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
The directors have provided the company with a loan, as shown in Note 8. This is interest-free, unsecured, and repayable with not less than 12 months' notice.
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