Company registration number 06759189 (England and Wales)
SJA (NORTH WEST) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SJA (NORTH WEST) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
SJA (NORTH WEST) LIMITED
BALANCE SHEET
AS AT
27 OCTOBER 2024
27 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,166,737
1,195,703
Investments
5
40,000
40,000
1,206,737
1,235,703
Current assets
Debtors
7
21,214
31,042
Cash at bank and in hand
191,360
153,323
212,574
184,365
Creditors: amounts falling due within one year
8
(58,958)
(68,126)
Net current assets
153,616
116,239
Net assets
1,360,353
1,351,942
Capital and reserves
Called up share capital
9
28,000
28,000
Revaluation reserve
10
238,897
243,980
Capital redemption reserve
12,000
12,000
Profit and loss reserves
1,081,456
1,067,962
Total equity
1,360,353
1,351,942
For the financial year ended 27 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 May 2025 and are signed on its behalf by:
Mr T D Poskitt
Director
Company registration number 06759189 (England and Wales)
SJA (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
SJA (North West) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 9 -12 Laneside, Metcalf Drive, Altham Industrial Estate, Accrington, BB5 5TU.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
The company is reliant upon the support of its subsidiary. The financial statements have been prepared on a going concern basis on the assumption that this financial support will continue to be made available to the company.true
The directors have no reason to believe that such financial support will not continue for the foreseeable future.
1.3
Turnover
Turnover represents amounts receivable for management charges.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
2% and 10% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
SJA (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
SJA (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable.
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.
1.10
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
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.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
SJA (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 OCTOBER 2024
- 5 -
4
Tangible fixed assets
Land and buildings
£
Cost or valuation
At 28 October 2023 and 27 October 2024
1,249,662
Depreciation and impairment
At 28 October 2023
53,959
Depreciation charged in the year
28,966
At 27 October 2024
82,925
Carrying amount
At 27 October 2024
1,166,737
At 27 October 2023
1,195,703
The company's freehold property at Units 9-12 Laneside. Metcalf Drive, Altham Industrial Estate, Accrington was revalued at an estimated market value of £1,200,000 by the directors of the company at 27 October 2021. This valuation was based on an external valuation undertaken in October 2021. The directors consider that this valuation is a reasonable estimate of the property's fair value at the current balance sheet date.
The revaluation surplus is disclosed in note 10.
Freehold property
2024
2023
£
£
Cost
995,516
995,516
Accumulated depreciation
(67,676)
(43,793)
Carrying value
927,840
951,723
SJA (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 OCTOBER 2024
- 6 -
5
Fixed asset investments
2024
2023
£
£
Investments
40,000
40,000
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 28 October 2023 & 27 October 2024
40,000
Carrying amount
At 27 October 2024
40,000
At 27 October 2023
40,000
6
Subsidiaries
Details of the company's subsidiaries at 27 October 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
S J A Film Technologies Limited
Units 11 & 12 Laneside Metcalf Drive Altham Industrial Estate Accrington
Ordinary
100.00
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
4,256
Other debtors
16,958
31,042
21,214
31,042
Included in Other debtors is a loan made by the company to one of its directors. The total amount brought forward was £30,139, a total amount of £4,297 was advanced and a total amount of £18,000 was repaid in the year. Interest of £521 has been charged at a rate of 2.25%. The closing balance of the director's' loan outstanding was £16,957 (2023: £30,139). The loan is unsecured.
SJA (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 OCTOBER 2024
- 7 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
137
Corporation tax
36,538
30,022
Other taxation and social security
5,265
2,872
Other creditors
17,155
35,095
58,958
68,126
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
28,000 Ordinary shares of £1 each
28,000
28,000
28,000
28,000
10
Revaluation reserve
2024
2023
£
£
At beginning of year
243,980
249,063
Other movements
(5,083)
(5,083)
At end of year
238,897
243,980
The revaluation reserve is a non-distributable reserve.
11
Financial commitments, guarantees and contingent liabilities
The company has given a guarantee, supported by a legal mortgage and debenture over its assets, in respect of the bank borrowings of its subsidiary company, S J A Film Technologies Limited. At 27 October 2024 this company had an amount of £nil (2023: £nil) outstanding.