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Registration number: 00846409

John Makepeace Limited

Annual Report and Unaudited Financial Statements Year Ended 17 March 2025

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Chartered Accountants

 

John Makepeace Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

John Makepeace Limited

Company Information

Directors

Mr J Makepeace

Mrs J Makepeace

Company secretary

Mr J Makepeace

Registered office

3 Whitcombe Road
Beaminster
Dorset
DT8 3NB

Accountants

Edwards and Keeping Limited
Unity Chambers
High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
John Makepeace Limitedfor the Year Ended 17 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of John Makepeace Limited for the year ended 17 March 2025 as set out on pages 3 to 8 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of John Makepeace Limited, as a body, in accordance with the terms of our engagement letter dated 18 July 2025. Our work has been undertaken solely to prepare for your approval the accounts of John Makepeace Limited and state those matters that we have agreed to state to the Board of Directors of John Makepeace Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Makepeace Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that John Makepeace Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of John Makepeace Limited. You consider that John Makepeace Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of John Makepeace 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 accounts.






Edwards and Keeping Limited
Unity Chambers
High East Street
Dorchester
Dorset
DT1 1HA

23 July 2025

 

John Makepeace Limited

(Registration number: 00846409)
Balance Sheet as at 17 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,021,019

1,024,116

Investments

5

246,847

221,153

 

1,267,866

1,245,269

Current assets

 

Stocks

6

25,400

43,900

Debtors

7

139,387

9,837

Cash at bank and in hand

 

421,356

527,865

 

586,143

581,602

Creditors: Amounts falling due within one year

8

(121,252)

(149,087)

Net current assets

 

464,891

432,515

Total assets less current liabilities

 

1,732,757

1,677,784

Provisions for liabilities

(37,658)

(26,795)

Net assets

 

1,695,099

1,650,989

Capital and reserves

 

Called up share capital

9

10

10

Investment revaluation reserve

47,275

23,607

Profit and loss account

1,647,814

1,627,372

Shareholders' funds

 

1,695,099

1,650,989

For the financial year ending 17 March 2025 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 21 July 2025 and signed on its behalf by:
 



Mr J Makepeace
Company secretary and director

 

John Makepeace Limited

Notes to the Unaudited Financial Statements
for the Year Ended 17 March 2025

1

General information

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

The address of its registered office is:
3 Whitcombe Road
Beaminster
Dorset
DT8 3NB

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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.

 

John Makepeace Limited

Notes to the Unaudited Financial Statements
for the Year Ended 17 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position 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, taking into account the residual value, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

16% straight line

Plant and equipment

10% reducing balance

Timber shed

5% straight line

Solar panels

2% straight line

Freehold buildings are depreciated to write down the cost less estimated residual value over the remaining useful life by equal annual instalments. At present buildings are maintained to such a standard and their lives are so long that depreciation is not significant and is not provided, other than in respect of the timber shed.

Plant and equipment includes artworks and furniture used by the company for its business activities. The residual value of these items is equivalent to the carrying value so that depreciation is not significant and not provided.

Investments

Investments comprise investments in quoted equity instruments which are measured at fair value. Changes in fair value are recognised in profit or loss.

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

John Makepeace Limited

Notes to the Unaudited Financial Statements
for the Year Ended 17 March 2025

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4

Tangible assets

Freehold Land and buildings
£

Plant and equipment
 £

Total
£

Cost or valuation

At 18 March 2024

770,423

356,384

1,126,807

At 17 March 2025

770,423

356,384

1,126,807

Depreciation

At 18 March 2024

37,615

65,076

102,691

Charge for the year

2,051

1,046

3,097

At 17 March 2025

39,666

66,122

105,788

Carrying amount

At 17 March 2025

730,757

290,262

1,021,019

At 17 March 2024

732,808

291,308

1,024,116

The company freehold land and buildings includes property that is rented out to a third party, the fair value of which cannot be measured reliably and hence the entire property has been accounted for as property, plant and equipment.

 

John Makepeace Limited

Notes to the Unaudited Financial Statements
for the Year Ended 17 March 2025

5

Investments

Investments
£

Total
£

Investments

Cost or valuation

At 18 March 2024

221,153

221,153

Fair value adjustments

25,252

25,252

Additions

16,682

16,682

Disposals

(16,240)

(16,240)

At 17 March 2025

246,847

246,847

Carrying amount

At 17 March 2025

246,847

246,847

At 17 March 2024

221,153

221,153

 

John Makepeace Limited

Notes to the Unaudited Financial Statements
for the Year Ended 17 March 2025

6

Stocks

2025
£

2024
£

Raw materials and consumables

25,400

43,900

7

Debtors

Current

2025
£

2024
£

Trade debtors

7,583

8,595

Other debtors

131,804

1,242

 

139,387

9,837

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

2,210

6,968

Taxation and social security

5,227

44,042

Accruals and deferred income

4,725

4,225

Other creditors

109,090

93,852

121,252

149,087

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

At the year end date, John Makepeace Limited was owed £131,139 (2024 £18,861 owed by John Makepeace Limited) to John Makepeace (Designs) Limited, a company under common control.