REGISTERED NUMBER: |
J L Engineering (Hereford) Limited |
Unaudited Financial Statements |
for the Period |
1 April 2024 to 31 December 2024 |
REGISTERED NUMBER: |
J L Engineering (Hereford) Limited |
Unaudited Financial Statements |
for the Period |
1 April 2024 to 31 December 2024 |
J L Engineering (Hereford) Limited (Registered number: 05364870) |
Contents of the Financial Statements |
for the Period 1 April 2024 to 31 December 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
J L Engineering (Hereford) Limited |
Company Information |
for the Period 1 April 2024 to 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
trading as The Hutchinson Partnership |
Chartered Accountants |
The Bull Pen |
Grove Farm |
Portway, Burghill |
Hereford |
HR4 8NF |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
J L Engineering (Hereford) Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J L Engineering (Hereford) Limited for the period ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of J L Engineering (Hereford) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J L Engineering (Hereford) Limited and state those matters that we have agreed to state to the Board of Directors of J L Engineering (Hereford) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J L Engineering (Hereford) Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that J L Engineering (Hereford) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J L Engineering (Hereford) Limited. You consider that J L Engineering (Hereford) Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of J L Engineering (Hereford) 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 financial statements. |
trading as The Hutchinson Partnership |
Chartered Accountants |
The Bull Pen |
Grove Farm |
Portway, Burghill |
Hereford |
HR4 8NF |
J L Engineering (Hereford) Limited (Registered number: 05364870) |
Balance Sheet |
31 December 2024 |
2024 | 2024 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Allotted, issued and fully paid share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
J L Engineering (Hereford) Limited (Registered number: 05364870) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
J L Engineering (Hereford) Limited (Registered number: 05364870) |
Notes to the Financial Statements |
for the Period 1 April 2024 to 31 December 2024 |
1. | STATUTORY INFORMATION |
J L Engineering (Hereford) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare accounts on the going concern basis. |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
When deposits for work to be undertaken are invoiced, they are recognised as turnover when the work is substantially completed. Income from services is recognised when the work is completed. |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Solar panels | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks and work in progress 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 stocks to their present location and condition. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
J L Engineering (Hereford) Limited (Registered number: 05364870) |
Notes to the Financial Statements - continued |
for the Period 1 April 2024 to 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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. |
Pension costs and other post-retirement benefits |
The company operates 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. |
Change of accounting period |
The company's accounting period has changed to 31 December from 31 March as from the period ending 31 December 2024. The change in period end is felt to better match the seasonal trading pattern. For this reason some of the comparatives in the accounts will relate to a longer period. |
3. | EMPLOYEES |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Long | Plant and | Solar |
leasehold | machinery | panels |
£ | £ | £ |
COST |
At 1 April 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 April 2024 |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 March 2024 |
J L Engineering (Hereford) Limited (Registered number: 05364870) |
Notes to the Financial Statements - continued |
for the Period 1 April 2024 to 31 December 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 April 2024 |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2024 |
£ | £ |
Trade debtors |
Directors' current accounts | - | 1,845 |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2024 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
VAT | 47,382 | 45,815 |
Other creditors |
Directors' current accounts | 8,883 | 339 |
Accruals and deferred income |
From time to time the directors lend money to the company (and vice versa) and it is repaid as required. The period end balance is shown in the notes above. Interest of £356 was charged on these balances during the period (year ending 31 March 2024: Nil) by one director at a rate of 5% above base rate. |
J L Engineering (Hereford) Limited (Registered number: 05364870) |
Notes to the Financial Statements - continued |
for the Period 1 April 2024 to 31 December 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2024 |
£ | £ |
Bounce Back Loan: 1-2 years | 6,667 | 10,000 |
Bounce Back Loan: 2-5 years | - | 4,167 |
8. | PROVISIONS FOR LIABILITIES |
2024 | 2024 |
£ | £ |
Deferred tax - accelerated |
capital allowances | 13,669 | 11,536 |
13,669 | 11,536 |
Deferred |
tax |
£ |
Balance at 1 April 2024 |
Accelerated capital allowances | 2,133 |
Balance at 31 December 2024 |
9. | OTHER FINANCIAL COMMITMENTS |
The company has entered into a 3 year shed rental agreement which expires in January 2027. The remaining instalments at the period end total £17,708 (year ending 31 March 2024: £24,083). |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 December 2024 and the year ended 31 March 2024: |
2024 | 2024 |
£ | £ |
Balance outstanding at start of period | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
11. | RELATED PARTY DISCLOSURES |
The company rents buildings used by the business from a director for £9,000 during the period (year ending 31 March 2024: £12,000). No money is owing at the year end. |