Registered number
13527169
JRS Agricultural Services Limited
Filleted Accounts
31 October 2024
JRS Agricultural Services Limited
Registered number: 13527169
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 99,591 127,049
Current assets
Stocks 111,860 75,274
Debtors 4 43,103 34,948
Cash at bank and in hand 43,052 1,286
198,015 111,508
Creditors: amounts falling due within one year 5 (206,496) (201,135)
Net current liabilities (8,481) (89,627)
Total assets less current liabilities 91,110 37,422
Provisions for liabilities (3,761) (5,985)
Net assets 87,349 31,437
Capital and reserves
Called up share capital 100 100
Profit and loss account 87,249 31,337
Shareholders' funds 87,349 31,437
The director is 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 director acknowledges his 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.
Jonathan Smith
Director
Approved by the board on 9 June 2025
JRS Agricultural Services Limited
Notes to the Accounts
for the year ended 31 October 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 & machinery 15% straight line
Equipment, fixtures & fittings 33.3% straight line
Vehicles 25% straight line
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery Equipment, fixtures & fittings Vehicles Total
£ £ £ £
Cost
At 1 November 2023 137,712 1,866 33,215 172,793
Additions 2,500 - - 2,500
At 31 October 2024 140,212 1,866 33,215 175,293
Depreciation
At 1 November 2023 28,025 1,111 16,608 45,744
Charge for the year 21,032 622 8,304 29,958
At 31 October 2024 49,057 1,733 24,912 75,702
Net book value
At 31 October 2024 91,155 133 8,303 99,591
At 31 October 2023 109,687 755 16,607 127,049
4 Debtors 2024 2023
£ £
Trade debtors 38,657 29,735
Other debtors 4,446 5,213
43,103 34,948
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,458 24,707
Taxation and social security costs 44,679 20,924
Director's loan account 154,068 149,194
Other creditors 6,291 6,310
206,496 201,135
6 Controlling party
The company is controlled by the director, together with members of his close family, by virtue of a 100% controlling interest in the ordinary, issued share capital. The dividend payable to Mr Smith was £34,650 (2023 - £40,000).
7 Other information
JRS Agricultural Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hill Farm
Hob Lane
Balsall Common
Coventry
CV7 7GX
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