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COMPANY REGISTRATION NUMBER: 08169866
James Blake Associates Limited
Unaudited financial statements
31 December 2024
James Blake Associates Limited
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
268,496
268,040
Investments
7
504,500
504,500
---------
---------
772,996
772,540
Current assets
Debtors
8
1,247,483
1,095,297
Cash at bank and in hand
10,546
57,677
-----------
-----------
1,258,029
1,152,974
Creditors: Amounts falling due within one year
9
( 678,349)
( 678,275)
-----------
-----------
Net current assets
579,680
474,699
-----------
-----------
Total assets less current liabilities
1,352,676
1,247,239
Creditors: Amounts falling due after more than one year
10
( 168,589)
( 207,768)
Provisions
Taxation including deferred tax
( 67,618)
( 55,396)
Accruals and deferred income
( 19,791)
( 22,206)
-----------
-----------
Net assets
1,096,678
961,869
-----------
-----------
Capital and reserves
Called up share capital
5
5
Share premium account
499,999
499,999
Profit and loss account
596,674
461,865
-----------
---------
Shareholders funds
1,096,678
961,869
-----------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
James Blake Associates Limited
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 5 June 2025 , and are signed on behalf of the board by:
Mr B J Blake
Director
Company registration number: 08169866
James Blake Associates Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 34-52 Out Westgate, Bury St Edmunds, Suffolk, IP33 3PA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Fully written down
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Fixtures and fittings
-
20% and 33.3% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% reducing balance
Surveying equipment
-
20 % straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of employees during the year was 29 (2023: 30 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
500,000
---------
Amortisation
At 1 January 2024 and 31 December 2024
500,000
---------
Carrying amount
At 31 December 2024
---------
At 31 December 2023
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Surveying equipment
Total
£
£
£
£
£
£
Cost
At 1 January 2024
362
36,916
379,650
125,195
9,048
551,171
Additions
4,111
102,527
10,349
6,457
123,444
Disposals
( 102,137)
( 4,323)
(690)
( 107,150)
----
-------
---------
---------
-------
---------
At 31 December 2024
362
41,027
380,040
131,221
14,815
567,465
----
-------
---------
---------
-------
---------
Depreciation
At 1 January 2024
251
18,916
185,805
74,789
3,370
283,131
Charge for the year
111
5,097
41,872
18,619
2,477
68,176
Disposals
( 48,276)
( 4,062)
( 52,338)
----
-------
---------
---------
-------
---------
At 31 December 2024
362
24,013
179,401
89,346
5,847
298,969
----
-------
---------
---------
-------
---------
Carrying amount
At 31 December 2024
17,014
200,639
41,875
8,968
268,496
----
-------
---------
---------
-------
---------
At 31 December 2023
111
18,000
193,845
50,406
5,678
268,040
----
-------
---------
---------
-------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 31 December 2024
504,500
---------
Impairment
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
504,500
---------
At 31 December 2023
504,500
---------
8. Debtors
2024
2023
£
£
Trade debtors
370,311
345,146
Amounts owed by group undertakings
80,541
44,084
Other debtors
796,631
706,067
-----------
-----------
1,247,483
1,095,297
-----------
-----------
9. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
76,466
49,333
Trade creditors
44,561
32,137
Amounts owed to group undertakings
2,015
3,081
Social security and other taxes
228,547
263,539
Other creditors
326,760
330,185
---------
---------
678,349
678,275
---------
---------
Other creditors of £234,917 (2023: £230,287) are secured by the company by way of a fixed and floating charge. Hire purchase agreements included in other creditors of £87,309 (2023: £95,209) are secured against the assets to which they relate.
10. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
40,816
89,122
Other creditors
127,773
118,646
---------
---------
168,589
207,768
---------
---------
Hire purchase agreements included in other creditors of £127,773 (2023: £118,646) are secured against the assets to which they relate.
11. Operating leases
As at the balance sheet date the company had operating lease commitments totalling £166,958 (2023: £204,549).
12. Directors ' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Directors
481,093
255,115
( 127,655)
608,553
---------
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Directors
353,756
283,600
( 156,263)
481,093
---------
---------
---------
---------
Interest was charged during the current and prior year on the overdrawn loan balances.