Company registration number 01249812 (England and Wales)
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
COMPANY INFORMATION
Directors
J Moody
Mrs J Moody
Mrs C E Moody
R Hocknull
T C Morris
(Appointed 1 November 2023)
Secretary
J Moody
Company number
01249812
Registered office
Hollybush Farm
Warstone Road
Shareshill
Wolverhampton
West Midlands
WV10 7LX
Auditor
Sumer Auditco Limited
The Beehive Building
Beehive Ring Road
Gatwick
Crawley
United Kingdom
RH6 0PA
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 24
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
The directors present the strategic report for the year ended 30 September 2024.
Review of the business
The results for the year are set out on page 8 of the accounts, which the directors consider to be acceptable.
Principal risks and uncertainties
The company does not actively use financial instruments as part of its financial risk management and during the year the company has been exposed to risks of supplier price increases, credit risk, liquidity risk and cash flow risk. The directors do not consider any other risks attaching to the use of financial instruments to be material to an assessment of its financial position.
Key performance indicators
The Directors consider the key performance indicators of the company to be revenue and net profit before tax and exceptional items, which are shown on page 8 of the accounts.
Mrs C E Moody
Director
25 June 2025
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
The directors present their annual report and financial statements for the year ended 30 September 2024.
Principal activities
The principal activity of the company is that of landscaping contracting.
Results and dividends
The results for the year are set out on page 8.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
J Moody
Mrs J Moody
Mrs C E Moody
R Hocknull
T C Morris
(Appointed 1 November 2023)
Financial instruments
The company's principle financial instruments comprise cash and short term deposits. The main purpose of these financial instruments is to manage the company's funding and liquidity requirements. The company has other financial assets and liabilities such as trade debtors and trade creditors, which arise directly from its operations.
Going concern
After making enquiries and preparing integrated profit and loss and cash flow forecasts for one year from the date the financial statements are signed the Directors have formed a judgement that, as at the date of approving the financial statements, there is a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. For further details please see the accounting policies.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Strategic report
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the review of the business and principal risk and uncertainties.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
On behalf of the board
Mrs C E Moody
Director
25 June 2025
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
- 4 -
Opinion
We have audited the financial statements of Jack Moody Landscaping and Civil Engineering Ltd (the 'company') for the year ended 30 September 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon.
The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD (CONTINUED)
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD (CONTINUED)
- 6 -
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the company and the industry in which it operates, we identified that principle risks of non-compliance with laws and regulations related to breaches of the Sale of Goods Act 1979 and employment laws, and we considered the extent to which non-compliance might have a material effect on the financial statements such as the Companies Act 2006.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principle risks related to posting journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transactions. Audit procedures performed by the engagement team included:
Discussions with management and those charged with governance including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
Evaluation and testing of the operating effectiveness of management's entity level controls designed to prevent and detect irregularities;
Performing tests on month-end adjustments;
Incorporating unpredictability into the nature, timing and/or extent of our testing;
Challenging assumptions and judgements made by management in their significant accounting estimates;
Identifying and testing journal entries, in particular any journal entries posted by infrequent users or senior management or posted with descriptions indicating a higher level of risk.
Testing conducted on contract valuations.
Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD (CONTINUED)
- 7 -
Mr Alan Jones FCCA (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited, Statutory Auditor
Chartered Accountants
The Beehive Building
Beehive Ring Road
Gatwick
Crawley
RH6 0PA
United Kingdom
27 June 2025
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
7,743,235
7,442,028
Cost of sales
(6,205,028)
(6,423,536)
Gross profit
1,538,207
1,018,492
Administrative expenses
(1,550,144)
(1,257,880)
Other operating income
508,120
402,234
Operating profit
5
496,183
162,846
Interest receivable and similar income
8
385
130
Interest payable and similar expenses
9
(10,796)
(10,367)
Profit before taxation
485,772
152,609
Tax on profit
10
(38,140)
Profit for the financial year
485,772
114,469
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
227,408
200,637
Investment property
13
340,000
340,000
Investments
14
4
4
567,412
540,641
Current assets
Stocks
15
1,119,363
1,090,633
Debtors
16
6,907,428
5,969,014
Cash at bank and in hand
15,648
8,005
8,042,439
7,067,652
Creditors: amounts falling due within one year
17
(4,880,333)
(4,489,252)
Net current assets
3,162,106
2,578,400
Total assets less current liabilities
3,729,518
3,119,041
Creditors: amounts falling due after more than one year
18
(1,685,809)
(1,561,104)
Provisions for liabilities
Deferred tax liability
21
66,667
66,667
(66,667)
(66,667)
Net assets
1,977,042
1,491,270
Capital and reserves
Called up share capital
23
100
100
Profit and loss reserves
1,976,942
1,491,170
Total equity
1,977,042
1,491,270
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved by the board of directors and authorised for issue on 25 June 2025 and are signed on its behalf by:
Mrs C E Moody
Director
Company registration number 01249812 (England and Wales)
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 10 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2022
100
1,376,701
1,376,801
Year ended 30 September 2023:
Profit and total comprehensive income
-
114,469
114,469
Balance at 30 September 2023
100
1,491,170
1,491,270
Year ended 30 September 2024:
Profit and total comprehensive income
-
485,772
485,772
Balance at 30 September 2024
100
1,976,942
1,977,042
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
1
Accounting policies
Company information
Jack Moody Landscaping & Civil Engineering Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Laney Green Holdings Ltd. These consolidated financial statements are available from its registered office, West Point, Second Floor, Mucklow Office Park, Mucklow Hill, Halesowen B62 8DY.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
After making enquiries and preparing integrated profit and loss and cash flow forecasts for one year from the date the financial statements are signed the Directors have formed a judgement that, as at the date of approving the financial statements, there is a reasonable expectation that the Company has adequate resources to continue in existence for the foreseeable future.
In making this assessment the Board of Directors has undertaken a thorough review of the company's budgets and forecasts, and group budget and forecasts and has produced detailed and realistic cash flow projections. They have also considered potential impacts of current uncertainties in the wider economy.
These cash flow projections demonstrate that the group has sufficient working capital for the foreseeable future. In light of the assessment, the directors remain of the view that the forecast is achievable and that the headroom within the forecast should be sufficient to enable the Company to operate and meet its liabilities as they fall due for payment throughout the year. The financial statements have accordingly been prepared on a going concern basis.
1.3
Turnover
Turnover represents net invoiced services, excluding value added tax.
The company recognises revenue from the following major sources:
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
Landscape contracting
Revenue from landscaping contracting is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over five years.
1.5
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating manner intended by management.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 13 -
Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
Freehold land and buildings
0% on Land / 10% Straight Line on Polytunnel
Leasehold improvements
10% Straight Line
Plant and equipment
10% Straight Line
Fixtures and fittings
10% Straight Line
Motor vehicles
25% Straight Line
Depreciation has been provided at 0% on freehold property as in the opinion of the directors, their lives are long and residual values are such that depreciation is not material.
The assets' residual values, useful lives and deprecation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
1.6
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
1.7
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.8
Stocks
Inventories and work in progress (except long term contracts) are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.
Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as revenue in respect of long term contracts is ascertained by reference to the value of the work carried out to date. Attributable profit is recognised as the difference between recorded revenue and related costs.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.9
Financial instruments
The company has chosen to adopt Sections 11 and of FRS 102 in respect of financial instruments.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.10
Taxation
Taxation for the year comprises of current and deferred tax. 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 equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.11
Retirement benefits
The company operated a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 16 -
2
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.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Valuation of investment property
Investment property has to be valued annually at fair value. The directors estimate that the carrying value at the year end date was £340,000 (2023 £340,000).
Impairment of amounts owed from related parties
The directors make an assessment annually as to the recoverability of balances due from related parties. During the period the directors deemed that £172,987 (2023 NIL) of amounts owed from related parties (including group members) was deemed unrecoverable, and that the remaining £5,002,353 (2023 £3,626,131) was due within one year.
Stock valuation and impairment provisions
The directors estimate increases in growing plant stock on an annual basis, this has resulted in an uplift in stocks of £29,106 (2023 £45,703) at the period end date. There were no impairment provisions at the period end date.
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Landscape contracting
7,743,235
7,442,028
2024
2023
£
£
Other revenue
Interest income
385
130
The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.
4
Exceptional item
2024
2023
£
£
Expenditure
Exceptional items
172,987
-
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
4
Exceptional item
(Continued)
- 17 -
The exceptional item of £172,987 in the current year relates to the write off of group loan balances.
5
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange (gains)/losses
221
Fees payable to the company's auditor for the audit of the company's financial statements
15,716
12,719
Depreciation of owned tangible fixed assets
42,410
28,030
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Contracting
83
76
Management
13
13
Total
96
89
2024
2023
£
£
Wages and salaries
2,693,317
2,432,845
Social security costs
257,130
216,224
Pension costs
50,732
43,105
3,001,179
2,692,174
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
178,695
107,168
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 18 -
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
385
16
Other interest income
114
Total income
385
130
9
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
-
722
Other interest on financial liabilities
1,516
Interest on finance leases and hire purchase contracts
9,280
9,645
10,796
10,367
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 19 -
10
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
38,140
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
485,772
152,609
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
121,443
38,152
Tax effect of expenses that are not deductible in determining taxable profit
53,849
Permanent capital allowances in excess of depreciation
(17,562)
(34,273)
Group relief
(157,730)
(3,879)
Deferred tax movement
38,140
Taxation charge for the year
38,140
11
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
15,000
Amortisation and impairment
At 1 October 2023 and 30 September 2024
15,000
Carrying amount
At 30 September 2024
At 30 September 2023
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 20 -
12
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 October 2023
48,076
35,473
5,038
14,748
125,332
228,667
Additions
32,514
36,667
69,181
At 30 September 2024
48,076
35,473
5,038
47,262
161,999
297,848
Depreciation and impairment
At 1 October 2023
1,211
219
489
26,111
28,030
Depreciation charged in the year
3,547
504
3,207
35,152
42,410
At 30 September 2024
4,758
723
3,696
61,263
70,440
Carrying amount
At 30 September 2024
48,076
30,715
4,315
43,566
100,736
227,408
At 30 September 2023
48,076
34,262
4,819
14,259
99,221
200,637
The carrying value of land and buildings comprises:
2024
2023
£
£
Freehold
48,076
48,076
13
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
340,000
14
Fixed asset investments
2024
2023
£
£
Unlisted investments
4
4
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14
Fixed asset investments
(Continued)
- 21 -
The company's investments at the Statement of Financial Position date in the share capital of companies include the following:
Oakleaf Gardens Management Limited
Registered office: United Kingdom
Nature of business: Dormant
Class of shares: %
Ordinary holding
100.00
15
Stocks
2024
2023
£
£
Raw materials and consumables
181,978
340,524
Work in progress
796,528
609,252
Stock of land
140,857
140,857
1,119,363
1,090,633
16
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,533,305
2,079,967
Amounts owed by group undertakings
4,997,011
3,620,589
Amounts owed by undertakings in which the company has a participating interest
5,542
5,542
Other debtors
65,922
224,801
Prepayments and accrued income
305,648
38,115
6,907,428
5,969,014
Amounts owed by group undertakings, participating interests and associates do not bear interest, are unsecured and repayable on demand.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 22 -
17
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
19
274,891
Obligations under finance leases
20
22,143
19,640
Trade creditors
1,035,320
1,056,593
Amounts owed to group undertakings
3,243,549
2,586,624
Taxation and social security
229,649
197,197
Other creditors
122,460
122,073
Accruals and deferred income
227,212
232,234
4,880,333
4,489,252
Amounts owed to group undertakings, participating interests and associates do not bear interest, are unsecured and are repayable on demand.
18
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
20
56,561
78,704
Other creditors
1,629,248
1,482,400
1,685,809
1,561,104
19
Loans and overdrafts
2024
2023
£
£
Bank overdrafts
274,891
Payable within one year
274,891
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
19
Loans and overdrafts
(Continued)
- 23 -
Any borrowing from Barclays Bank by the company is secured by a fixed and floating charge over the company's assets dated 1st September 2023. The company also guarantees any borrowing under the same charge in relation to the following companies:
Laney Green Holdings Ltd
Hollybush Recycling Ltd
Jack Moody Logistics Ltd
JM Envirofuels (Barry) Ltd
Longworth Holdings Ltd
Jack Moody Holdings Ltd
Jack Moody Plant Hire Ltd
JM Envirofuels (Hull) Ltd
JM Envirofuels Ltd
Lodgewood Recycling Ltd
Hollybush Nurseries Ltd
Grendon Recycling Ltd
Glamorgan Recycling Ltd
Laney Green Holdings Ltd
20
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
22,143
19,640
In two to five years
56,561
78,704
78,704
98,344
Hire purchase liabilities are secured upon the assets to which they relate.
21
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
38,140
38,140
Revaluations
28,527
28,527
66,667
66,667
There were no deferred tax movements in the year.
A deferred tax provision has arisen as a result of the reclassification of property as investment property.
JACK MOODY LANDSCAPING AND CIVIL ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 24 -
22
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
50,732
43,105
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
23
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
24
Ultimate controlling party
The directors regard Laney Green Holdings Limited as the company's ultimate parent undertakings, whose registered office is West Point, Second Floor, Mucklow Office Park, Mucklow Hill, Halesowen, B62 8DY. The consolidated accounts of this company may be obtained from the Registrar of Companies Registration Office, Crown Way, Maindy, Cardiff, CF14 3UZ.
2024-09-302023-10-01falsefalsefalseCCH SoftwareCCH Accounts Production 2025.100Mrs J MoodyMrs C E MoodyR HocknullT C MorrisT C MorrisJ Moody012498122023-10-012024-09-3001249812bus:CompanySecretaryDirector12023-10-012024-09-3001249812bus:Director12023-10-012024-09-3001249812bus:Director22023-10-012024-09-3001249812bus:Director32023-10-012024-09-3001249812bus:Director42023-10-012024-09-3001249812bus:CompanySecretary12023-10-012024-09-3001249812bus:Director52023-10-012024-09-3001249812bus:RegisteredOffice2023-10-012024-09-30012498122024-09-30012498122022-10-012023-09-3001249812dpl:Item12023-10-012024-09-3001249812dpl:Item12022-10-012023-09-3001249812core:RetainedEarningsAccumulatedLosses2022-10-012023-09-3001249812core:RetainedEarningsAccumulatedLosses2023-10-012024-09-30012498122023-09-3001249812core:LandBuildingscore:OwnedOrFreeholdAssets2024-09-3001249812core:LeaseholdImprovements2024-09-3001249812core:PlantMachinery2024-09-3001249812core:FurnitureFittings2024-09-3001249812core:MotorVehicles2024-09-3001249812core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3001249812core:LeaseholdImprovements2023-09-3001249812core:PlantMachinery2023-09-3001249812core:FurnitureFittings2023-09-3001249812core:MotorVehicles2023-09-3001249812core:CurrentFinancialInstruments2024-09-3001249812core:CurrentFinancialInstruments2023-09-3001249812core:Non-currentFinancialInstruments2024-09-3001249812core:Non-currentFinancialInstruments2023-09-3001249812core:ShareCapital2024-09-3001249812core:ShareCapital2023-09-3001249812core:RetainedEarningsAccumulatedLosses2024-09-3001249812core:RetainedEarningsAccumulatedLosses2023-09-3001249812core:ShareCapital2022-09-3001249812core:RetainedEarningsAccumulatedLosses2022-09-30012498122022-09-3001249812core:ShareCapitalOrdinaryShareClass12024-09-3001249812core:ShareCapitalOrdinaryShareClass12023-09-3001249812core:Goodwill2023-10-012024-09-3001249812core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-012024-09-3001249812core:LeaseholdImprovements2023-10-012024-09-3001249812core:PlantMachinery2023-10-012024-09-3001249812core:FurnitureFittings2023-10-012024-09-3001249812core:MotorVehicles2023-10-012024-09-3001249812core:UKTax2023-10-012024-09-3001249812core:UKTax2022-10-012023-09-300124981212023-10-012024-09-300124981212022-10-012023-09-300124981222023-10-012024-09-300124981222022-10-012023-09-3001249812core:Goodwill2023-09-3001249812core:Goodwill2024-09-3001249812core:Goodwill2023-09-3001249812core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3001249812core:LeaseholdImprovements2023-09-3001249812core:PlantMachinery2023-09-3001249812core:FurnitureFittings2023-09-3001249812core:MotorVehicles2023-09-30012498122023-09-3001249812core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2024-09-3001249812core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2023-09-3001249812core:Non-currentFinancialInstruments12024-09-3001249812core:Non-currentFinancialInstruments12023-09-3001249812core:WithinOneYear2024-09-3001249812core:WithinOneYear2023-09-3001249812core:BetweenTwoFiveYears2024-09-3001249812core:BetweenTwoFiveYears2023-09-3001249812bus:OrdinaryShareClass12023-10-012024-09-3001249812bus:OrdinaryShareClass12024-09-3001249812bus:OrdinaryShareClass12023-09-3001249812bus:PrivateLimitedCompanyLtd2023-10-012024-09-3001249812bus:FRS1022023-10-012024-09-3001249812bus:Audited2023-10-012024-09-3001249812bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP