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Registered Number: 05479259
England and Wales

 

 

 

JEREMY WEARE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 4 500    1,500 
Tangible fixed assets 5 125,315    129,237 
125,815    130,737 
Current assets      
Stocks 6 22,500    22,500 
Debtors 7 21,735    43,928 
Investments 8 30    30 
Cash at bank and in hand (14,519)   (10,918)
29,746    55,540 
Creditors: amount falling due within one year 9 (73,788)   (62,205)
Net current assets (44,042)   (6,665)
 
Total assets less current liabilities 81,773    124,072 
Creditors: amount falling due after more than one year 10 (4,603)   (8,852)
Provisions for liabilities 11 (23,810)   (24,555)
Net assets 53,360    90,665 
 

Capital and reserves
     
Called up share capital 12 1    1 
Profit and loss account 53,359    90,664 
Shareholders' funds 53,360    90,665 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 March 2025 and were signed on its behalf by:


-------------------------------
Mr L White
Director
-------------------------------
Mr B Radford
Director
1
General Information
Jeremy Weare Limited is a private company, limited by shares, registered in England and Wales, registration number 05479259, registration address Barrow Farm, Barrow Lane, North Wootton, Shepton Mallet, BA4 4HL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 3 (2023 : 3).
3.

Financial Commitments, Guarantees and Contingencies

At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £3,743 (2023 - £16,124).

4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2024 20,000    20,000 
Additions  
Disposals  
At 31 December 2024 20,000    20,000 
Amortisation
At 01 January 2024 18,500    18,500 
Charge for year 1,000    1,000 
On disposals  
At 31 December 2024 19,500    19,500 
Net book values
At 31 December 2024 500    500 
At 31 December 2023 1,500    1,500 


5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 January 2024 167,306    47,317    6,586    221,209 
Additions 36,496        36,496 
Disposals (37,505)       (37,505)
At 31 December 2024 166,297    47,317    6,586    220,200 
Depreciation
At 01 January 2024 70,083    17,055    4,834    91,972 
Charge for year 16,149    7,566    579    24,294 
On disposals (21,381)       (21,381)
At 31 December 2024 64,851    24,621    5,413    94,885 
Net book values
Closing balance as at 31 December 2024 101,446    22,696    1,173    125,315 
Opening balance as at 01 January 2024 97,223    30,262    1,752    129,237 


6.

Stocks

2024
£
  2023
£
Work in Progress 20,000    20,000 
Stocks 2,500    2,500 
22,500    22,500 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 21,735    43,928 
21,735    43,928 

8.

Investments

2024
£
  2023
£
Other Investments - Unlisted - Cost b/fwd 30    30 
30    30 

9.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4,630    16,990 
Corporation Tax 11,798    9,493 
Accrued Expenses 3,140    2,988 
Other Creditors 4,918    606 
Obligations under HP/Financial Leases 4,249    4,249 
Director: Mr L White 15,000    5,750 
Director: Mr B Radford 15,000    5,750 
VAT 15,053    16,379 
73,788    62,205 

10.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases 4,603    8,852 
4,603    8,852 

11.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 23,810    24,555 
23,810    24,555 

12.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
60 Class A shares of £0.01 each  
40 Class B shares of £0.01 each  
 

2