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Registration number: SC236432

J R Webb Antiques Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
J R Webb Antiques Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J R Webb Antiques Limited for the year ended 30 September 2024 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of J R Webb Antiques Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of J R Webb Antiques Limited and state those matters that we have agreed to state to the Board of Directors of J R Webb Antiques Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-
activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J R Webb Antiques Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J R Webb Antiques Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of J R Webb Antiques Limited. You consider that J R Webb Antiques Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of J R Webb Antiques Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Carnegie Accountancy
Chartered Certified Accountant
24 Carnegie Crescent
Aberdeen
AB15 4AE

10 June 2025

 

J R Webb Antiques Limited

(Registration number: SC236432)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,385

9,938

Current assets

 

Stocks

328,461

247,686

Debtors

5

22,277

27,600

Cash at bank and in hand

 

30,243

35,036

 

380,981

310,322

Creditors: Amounts falling due within one year

6

(147,235)

(101,165)

Net current assets

 

233,746

209,157

Total assets less current liabilities

 

250,131

219,095

Provisions for liabilities

(3,809)

(2,485)

Net assets

 

246,322

216,610

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

246,318

216,606

Shareholders' funds

 

246,322

216,610

For the financial 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.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 10 June 2025
 

.........................................
Mr J R P Webb
Director

 

J R Webb Antiques Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Osborne House
28-30 Carden Place
ABERDEEN
AB10 1UP

These financial statements were authorised for issue by the director on 10 June 2025.

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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.

 

J R Webb Antiques Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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 or valuation of assets less their residual values over their useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

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.

Stocks

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

J R Webb Antiques Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

11,423

11,423

Additions

10,584

10,584

At 30 September 2024

22,007

22,007

Depreciation

At 1 October 2023

1,485

1,485

Charge for the year

4,137

4,137

At 30 September 2024

5,622

5,622

Carrying amount

At 30 September 2024

16,385

16,385

At 30 September 2023

9,938

9,938

5

Debtors

Current

2024
£

2023
£

Other debtors

22,277

27,600

 

22,277

27,600

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

14,590

28,011

Other creditors

132,645

73,154

147,235

101,165

7

Share capital

Allotted, called up and fully paid shares

 

J R Webb Antiques Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       
 

J R Webb Antiques Limited

Detailed Profit and Loss Account for the Year Ended 30 September 2024

2024
£

2023
£

Turnover

760,588

601,682

Opening merchandise

247,686

201,853

Purchases

690,641

471,509

Closing merchandise

(328,461)

(247,686)

Commissions payable

15,662

17,474

Cost of sales

625,528

443,150

Gross profit

135,060

158,532

Gross profit (%)

17.76%

26.35%

Administrative expenses

Rent

29,245

23,805

Light, heat and power

-

358

Insurance

2,391

1,738

Repairs and renewals

6,656

840

Computer software and maintenance costs

172

360

Printing, postage and stationery

740

188

Sundry expenses

2,387

1,405

Motor expenses

42,204

14,203

Travel and subsistence

1,194

140

Advertising

245

1,946

Accountancy fees

4,169

4,600

Legal and professional fees

734

1,832

Bank charges

966

1,029

Depreciation of plant and machinery (owned)

4,137

1,175

95,240

53,619

Operating profit

39,820

104,913

Profit before tax

39,820

104,913