James Jacklin Transport Limited 10859566 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Freight transport by road Digita Accounts Production Advanced 6.30.9574.0 true 10859566 2023-08-01 2024-07-31 10859566 2024-07-31 10859566 bus:OrdinaryShareClass1 2024-07-31 10859566 core:RetainedEarningsAccumulatedLosses 2024-07-31 10859566 core:ShareCapital 2024-07-31 10859566 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-07-31 10859566 core:CurrentFinancialInstruments 2024-07-31 10859566 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 10859566 core:Non-currentFinancialInstruments 2024-07-31 10859566 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 10859566 core:FurnitureFittingsToolsEquipment 2024-07-31 10859566 core:MotorVehicles 2024-07-31 10859566 bus:SmallEntities 2023-08-01 2024-07-31 10859566 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10859566 bus:FilletedAccounts 2023-08-01 2024-07-31 10859566 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10859566 bus:RegisteredOffice 2023-08-01 2024-07-31 10859566 bus:Director2 2023-08-01 2024-07-31 10859566 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 10859566 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10859566 core:FurnitureFittings 2023-08-01 2024-07-31 10859566 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 10859566 core:MotorVehicles 2023-08-01 2024-07-31 10859566 countries:England 2023-08-01 2024-07-31 10859566 2023-07-31 10859566 core:FurnitureFittingsToolsEquipment 2023-07-31 10859566 core:MotorVehicles 2023-07-31 10859566 2022-08-01 2023-07-31 10859566 2023-07-31 10859566 bus:OrdinaryShareClass1 2023-07-31 10859566 core:RetainedEarningsAccumulatedLosses 2023-07-31 10859566 core:ShareCapital 2023-07-31 10859566 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-07-31 10859566 core:CurrentFinancialInstruments 2023-07-31 10859566 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 10859566 core:CurrentFinancialInstruments core:PreviouslyStatedAmount 2023-07-31 10859566 core:Non-currentFinancialInstruments 2023-07-31 10859566 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 10859566 core:FurnitureFittingsToolsEquipment 2023-07-31 10859566 core:MotorVehicles 2023-07-31 10859566 core:PreviouslyStatedAmount 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10859566

James Jacklin Transport Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2024

 

James Jacklin Transport Limited

(Registration number: 10859566)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

910,103

993,938

Current assets

 

Debtors

5

371,934

365,714

Cash at bank and in hand

 

-

7,956

 

371,934

373,670

Creditors: Amounts falling due within one year

6

(838,931)

(583,055)

Net current liabilities

 

(466,997)

(209,385)

Total assets less current liabilities

 

443,106

784,553

Creditors: Amounts falling due after more than one year

6

(481,915)

(804,868)

Provisions for liabilities

32,849

27,936

Net (liabilities)/assets

 

(5,960)

7,621

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(6,060)

7,521

Shareholders' (deficit)/funds

 

(5,960)

7,621

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 July 2025 and signed on its behalf by:
 


Mr J Jacklin
Director

   
 

James Jacklin Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 10859566

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

James Jacklin Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

10% or 20% per annum on written down value, 2% on cost

Motor vehicles

10% per annum on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less a provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are recorded at fair value, net of transaction costs.

The business utilises an invoice financing facility. Financial assets and liabilities arising from a sale are recorded at the transaction price.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

James Jacklin Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 11 (2023 - 9).

 

James Jacklin Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

67,973

1,046,886

1,114,859

Additions

28,332

-

28,332

At 31 July 2024

96,305

1,046,886

1,143,191

Depreciation

At 1 August 2023

12,934

107,987

120,921

Charge for the year

7,478

104,689

112,167

At 31 July 2024

20,412

212,676

233,088

Carrying amount

At 31 July 2024

75,893

834,210

910,103

At 31 July 2023

55,039

938,899

993,938

5

Debtors

2024
£

2023
£

Trade debtors

282,949

301,399

Other debtors

42,062

57,054

Social security and other taxes

46,923

7,261

371,934

365,714

 

James Jacklin Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

626,801

462,285

Trade payables

 

156,823

106,588

Social security and other taxes

 

13,807

12,682

Other payables

 

41,500

1,500

 

838,931

583,055

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

481,915

804,868

7

Loans and borrowings

2024
£

2023
£

Due within one year

Bank borrowings

2,817

10,000

Bank overdrafts

413

-

HP and finance lease liabilities

164,252

207,399

Other borrowings

259,932

67,734

Invoice finance creditor

199,387

177,152

626,801

462,285

2024
£

2023
£

Due after one year

Bank borrowings

22,602

22,407

Hire purchase contracts

459,313

664,964

Other borrowings

-

117,497

481,915

804,868

HP and finance lease liabilities are secured against the assets to which they relate.

Bank and other borrowings are secured against the assets of the company.

Invoice finance creditor is secured against the book debts of the company.

 

James Jacklin Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Related party transactions

Transactions with directors

At the year end the company had loaned the directors £17,819, (2023- £32,811). This was loaned under normal market conditions and is repayable on demand and shown in the current assets of the company.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100