Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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722,756 | 515,495 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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1,111,022 | 623,248 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 230,918 | 34,293 | ||
Total assets less current liabilities | 953,674 | 549,788 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Joe Dunn Plant Limited (registered number:
Mr Joe Dunn
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Joe Dunn Plant Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Meadow View Daws Green, Trull, Taunton, TA3 7NX, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Land and buildings |
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Plant and machinery |
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Office equipment |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Land and buildings | Plant and machinery | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 October 2023 |
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Additions |
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Disposals |
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At 30 September 2024 |
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Accumulated depreciation | |||||||
At 01 October 2023 |
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Charge for the financial year |
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Disposals |
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At 30 September 2024 |
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Net book value | |||||||
At 30 September 2024 |
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At 30 September 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by related parties |
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Corporation tax |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts (secured) |
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Other creditors |
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Included in other creditors are borrowings of £83,823 (2023: £190,164) which are secured over assets included in Stock.
2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Other loans (secured) |
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Obligations under finance leases and hire purchase contracts (secured) |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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During the year, the company made purchases of £201,882 (2023: £116,551) from and sales of £234,175 (2023: £183,949) to a company under the control of an immediate family member of the director. At the year end, a balance of £192,655 (2023: £164,585) was due from this company.
During the year, the company made purchases of £52,826 (2023: £43,014) from and sales of £43,975 (2023: £87,347) to a partnership under the joint control of immediate family members. At the year end, a balance of £5,074 (2023: £2,139) was owed to this partnership.
During the year, the company made purchases of £275,413 (2023: £36,608) from and sales of £32,221 (2023: £97,246) to a company under the control of an immediate family member of the director. At the year end, a balance of £4,740 was owed to this company (2023: £21,526 was due from this company).
During the year, the company made purchases of £1,667 (2023: £Nil) from and sales of £Nil (2023: £Nil) to a company under the control of an immediate family member of the director. At the year end, a balance of £2,000 was owed to this company (2023: £Nil).
During the year, the company made purchases of £169,414 (2023: £219,425) from and sales of £780,922 (2023: £484,447) to a company under the joint control of the director. At the year end, a balance of £133,978 (2023:£13,592) was due from this company.