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Registration number: 05177049

J. Anderson & Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

J. Anderson & Son Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
J. Anderson & Son Limited
for the Year Ended 31 October 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. Anderson & Son Limited for the year ended 31 October 2024 as set out on pages 2 to 9 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. Anderson & Son 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. Anderson & Son Limited and state those matters that we have agreed to state to the Board of Directors of J. Anderson & Son 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. Anderson & Son Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J. Anderson & Son 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. Anderson & Son Limited. You consider that J. Anderson & Son 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. Anderson & Son 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.

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

Crozier Jones LLP
Chartered certified
9/13 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

12 June 2025

 

J. Anderson & Son Limited

(Registration number: 05177049)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,888,541

1,706,179

Current assets

 

Stocks

6

447,222

2,003,117

Debtors

7

6,723,332

1,647,592

Cash at bank and in hand

 

929,081

1,707,888

 

8,099,635

5,358,597

Creditors: Amounts falling due within one year

8

(1,899,306)

(1,529,850)

Net current assets

 

6,200,329

3,828,747

Total assets less current liabilities

 

8,088,870

5,534,926

Creditors: Amounts falling due after more than one year

8

(2,793)

(4,788)

Provisions for liabilities

(372,619)

(312,852)

Net assets

 

7,713,458

5,217,286

Capital and reserves

 

Called up share capital

42

42

Retained earnings

7,713,416

5,217,244

Shareholders' funds

 

7,713,458

5,217,286

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 

.........................................
Mrs J E Anderson Short
Company secretary and director

 

J. Anderson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Rockingham Lodge
Wathwood Drive
Swinton
Mexborough
South Yorkshire
S64 8UW

These financial statements were authorised for issue by the Board on 12 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 except that as disclosed in the accounting policies certain items are shown at fair value.

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. Anderson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Contract revenue recognition

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to certified measured works by the customer where available, otherwise estimates are made by the company's commercial team.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model

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 of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance per annum

Fixtures and fittings

15% on reducing balance per annum

Motor vehicles

25% on reducing balance per annum

Computer equipment

20% on reducing balance per annum

Freehold property

2% on straight line basis per annum

 

J. Anderson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

J. Anderson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 32).

 

J. Anderson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

60,000

60,000

At 31 October 2024

60,000

60,000

Amortisation

At 1 November 2023

60,000

60,000

At 31 October 2024

60,000

60,000

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

1,212,922

1,191,695

2,404,617

Additions

217,279

461,961

679,240

Disposals

-

(159,038)

(159,038)

At 31 October 2024

1,430,201

1,494,618

2,924,819

Depreciation

At 1 November 2023

378,779

319,659

698,438

Charge for the year

155,286

264,429

419,715

Eliminated on disposal

-

(81,875)

(81,875)

At 31 October 2024

534,065

502,213

1,036,278

Carrying amount

At 31 October 2024

896,136

992,405

1,888,541

At 31 October 2023

834,143

872,036

1,706,179

 

J. Anderson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Stocks

2024
£

2023
£

Work in progress

447,222

2,003,117

7

Debtors

2024
£

2023
£

Trade debtors

2,391,312

1,427,358

Other debtors

238,433

123,500

Prepayments

129,376

96,734

Gross amount due from customers for contract work

3,964,211

-

6,723,332

1,647,592

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,788

52,701

Trade creditors

 

1,159,764

775,601

Amounts owed to related parties

10

7,115

6,245

Taxation and social security

 

480,209

301,388

Corporation tax

 

190,884

346,284

Other creditors

 

13,589

13,006

Accrued expenses

 

42,957

34,625

 

1,899,306

1,529,850

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,793

4,788

The bank has a general charge which is secured over the property and other undertakings of the company.

 

J. Anderson & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

2,793

4,788

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

4,788

52,701

10

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

At 31 October 2024
£

Mr J Anderson

Loan account

-

154,120

154,120