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JG Mailing Limited
Filleted accounts
30 September 2024
Company registration number: 11959997
JG Mailing Limited
Directors and other information
Director M G Burt
Company number 11959997
Registered office Progress House
Butlers Leap
Rugby
Warwickshire
CV21 3RQ
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
JG Mailing Limited
Balance sheet
30th September 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 7,500 9,000
Tangible assets 6 41,385 64,646
_______ _______
48,885 73,646
Current assets
Debtors 7 29,572 37,945
Cash at bank and in hand 18,515 11,583
_______ _______
48,087 49,528
Creditors: amounts falling due
within one year 8 ( 41,530) ( 38,584)
_______ _______
Net current assets 6,557 10,944
_______ _______
Total assets less current liabilities 55,442 84,590
Creditors: amounts falling due
after more than one year 9 ( 201,389) ( 216,945)
_______ _______
Net liabilities ( 145,947) ( 132,355)
_______ _______
Capital and reserves
Called up share capital 10 100 100
Revaluation reserve 11 7,451 22,393
Profit and loss account ( 153,498) ( 154,848)
_______ _______
Shareholder deficit ( 145,947) ( 132,355)
_______ _______
For the 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements 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 Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 June 2025 , and are signed on behalf of the board by:
M G Burt
Director
Company registration number: 11959997
JG Mailing Limited
Notes to the financial statements
Year ended 30th September 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Progress House, Butlers Leap, Rugby, Warwickshire, CV21 3RQ. The company's principal activity during the year was the provision of printing, direct mailing and fulfilment services.
2. Statement of compliance
These financial statements 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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
At 30th September 2024 the company had a deficiency of assets amounting to £145,947 (2023: £132,355) after taking into consideration loans from its parent company totalling £175,000 (2023: £185,000). The company is reliant upon the financial support of its parent company, which has indicated that this will be continued for the foreseeable future. In light of this, the financial statements have been prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, 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.
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.
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 - 10 % 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 assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - Straight line basis at between 10% and 25% per annum
Equipment - Straight line basis at between 10% and 20% per annum
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1st October 2023 and 30th September 2024 15,000 15,000
_______ _______
Amortisation
At 1st October 2023 6,000 6,000
Charge for the year 1,500 1,500
_______ _______
At 30th September 2024 7,500 7,500
_______ _______
Carrying amount
At 30th September 2024 7,500 7,500
_______ _______
At 30th September 2023 9,000 9,000
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost or valuation
At 1st October 2023 and 30th September 2024 102,334 9,101 111,435
_______ _______ _______
Depreciation
At 1st October 2023 39,509 7,280 46,789
Charge for the year 21,440 1,821 23,261
_______ _______ _______
At 30th September 2024 60,949 9,101 70,050
_______ _______ _______
Carrying amount
At 30th September 2024 41,385 - 41,385
_______ _______ _______
At 30th September 2023 62,825 1,821 64,646
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 27,183 22,928
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 12,000
Other debtors 2,389 3,017
_______ _______
29,572 37,945
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loan 5,556 5,556
Trade creditors 24,087 21,939
Social security and other taxes 9,077 8,216
Other creditors 2,810 2,873
_______ _______
41,530 38,584
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loan 26,389 31,945
Amounts owed to group undertakings and undertakings in which the company has a participating interest 175,000 185,000
_______ _______
201,389 216,945
_______ _______
10. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
11. Reserves
Revaluation
reserve
£
At 1st October 2023 22,393
Transfer to profit & loss account account (14,942)
_______
At 30th September 2024 7,451
_______
12. Controlling party
The company is under the control of Forester Maclean Limited , which owns 100% of the issued shares.