13 01/09/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-09-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05266229 2023-09-01 2024-08-31 05266229 2024-08-31 05266229 2023-08-31 05266229 2022-09-01 2023-08-31 05266229 2023-08-31 05266229 2022-08-31 05266229 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 05266229 core:MotorVehicles 2023-09-01 2024-08-31 05266229 core:NetGoodwill 2023-09-01 2024-08-31 05266229 bus:Director2 2023-09-01 2024-08-31 05266229 core:NetGoodwill 2023-08-31 05266229 core:NetGoodwill 2024-08-31 05266229 core:FurnitureFittingsToolsEquipment 2023-08-31 05266229 core:MotorVehicles 2023-08-31 05266229 core:FurnitureFittingsToolsEquipment 2024-08-31 05266229 core:MotorVehicles 2024-08-31 05266229 core:WithinOneYear 2024-08-31 05266229 core:WithinOneYear 2023-08-31 05266229 core:ShareCapital 2024-08-31 05266229 core:ShareCapital 2023-08-31 05266229 core:RetainedEarningsAccumulatedLosses 2024-08-31 05266229 core:RetainedEarningsAccumulatedLosses 2023-08-31 05266229 core:NetGoodwill 2023-08-31 05266229 core:FurnitureFittingsToolsEquipment 2023-08-31 05266229 core:MotorVehicles 2023-08-31 05266229 bus:SmallEntities 2023-09-01 2024-08-31 05266229 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05266229 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05266229 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05266229 bus:FullAccounts 2023-09-01 2024-08-31
Company registration number: 05266229
J W W Allison and Sons Limited
Unaudited filleted financial accounts
For the year ended
31 August 2024
J W W Allison and Sons Limited
Contents
Statement of financial position
Notes to the financial accounts
J W W Allison and Sons Limited
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 3 12,438 87,063
Tangible assets 4 45,514 43,583
________ ________
57,952 130,646
Current assets
Stocks 124,208 120,272
Debtors 5 198,317 227,493
Cash at bank and in hand 1,139,262 701,173
________ ________
1,461,787 1,048,938
Creditors: amounts falling due
within one year 6 ( 421,765) ( 425,485)
________ ________
Net current assets 1,040,022 623,453
________ ________
Total assets less current liabilities 1,097,974 754,099
Provisions for liabilities ( 11,379) ( 10,896)
________ ________
Net assets 1,086,595 743,203
________ ________
Capital and reserves
Called up share capital 3,100 3,100
Profit and loss account 1,083,495 740,103
________ ________
Shareholders funds 1,086,595 743,203
________ ________
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial accounts for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial accounts.
These financial accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial accounts were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:
Mr N W Mitchell
Director
Company registration number: 05266229
J W W Allison and Sons Limited
Notes to the financial accounts
Year ended 31 August 2024
1. Accounting policies
General information
The company is a private company limited by shares, registered in England and Wales, registration number 05266229 . The address of the registered office is J W W Allison and Sons Limited, 31 Main Street, Cockermouth, CA13 9LL.
Basis of preparation
These financial accounts have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 with the same financial statements.
The financial statements have been prepared under the historical cost convention in accordance with FRS 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible fixed assets are included at cost less depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 13 ).
3. Intangible assets
Goodwill Total
£ £
Cost
At 1 September 2023 and 31 August 2024 1,492,500 1,492,500
________ ________
Amortisation
At 1 September 2023 1,405,437 1,405,437
Charge for the year 74,625 74,625
________ ________
At 31 August 2024 1,480,062 1,480,062
________ ________
Carrying amount
At 31 August 2024 12,438 12,438
________ ________
At 31 August 2023 87,063 87,063
________ ________
4. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 September 2023 224,110 11,891 236,001
Additions - 12,495 12,495
Disposals - ( 3,400) ( 3,400)
________ ________ ________
At 31 August 2024 224,110 20,986 245,096
________ ________ ________
Depreciation
At 1 September 2023 182,398 10,020 192,418
Charge for the year 6,256 3,353 9,609
Disposals - ( 2,445) ( 2,445)
________ ________ ________
At 31 August 2024 188,654 10,928 199,582
________ ________ ________
Carrying amount
At 31 August 2024 35,456 10,058 45,514
________ ________ ________
At 31 August 2023 41,712 1,871 43,583
________ ________ ________
5. Debtors
2024 2023
£ £
Trade debtors 176,607 189,529
Other debtors 21,710 37,964
________ ________
198,317 227,493
________ ________
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 219,166 279,317
Taxation and social security 187,959 131,409
Directors loan account 5,181 4,510
Other creditors 9,459 10,249
________ ________
421,765 425,485
________ ________
The company's banking facilities are secured on personal assets owned by one of the directors.
7. Pension commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately in an independently administered fund. At the balance sheet date, unpaid contributions of £943 (2023 - £872) were due to the fund. They are included in other creditors.
8. Other financial commitments
At 31 August 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £159,726 (2023 - £173,726).