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COMPANY REGISTRATION NUMBER: 07603566
J & SA Limited
Filleted Unaudited Abridged Financial Statements
31 October 2024
J & SA Limited
Abridged Financial Statements
Year ended 31 October 2024
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
J & SA Limited
Abridged Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
1,983
Current assets
Stocks
5,031
Debtors
65,494
Cash at bank and in hand
37,357
36,537
---------
--------
102,851
41,568
Creditors: amounts falling due within one year
86,406
102,101
---------
---------
Net current assets/(liabilities)
16,445
( 60,533)
--------
--------
Total assets less current liabilities
16,445
( 58,550)
Creditors: amounts falling due after more than one year
Bank loans and overdrafts
24,778
35,767
--------
--------
Net liabilities
( 8,333)
( 94,317)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 8,433)
( 94,417)
-------
--------
Shareholders deficit
( 8,333)
( 94,317)
-------
--------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.
J & SA Limited
Abridged Statement of Financial Position (continued)
31 October 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 30 July 2025 , and are signed on behalf of the board by:
Mrs J. Allen
Director
Company registration number: 07603566
J & SA Limited
Notes to the Abridged Financial Statements
Year ended 31 October 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 4A Brecon Court, William Brown Close, Llantarnam Industrial Park, NP44 3AB.
2. Statement of compliance
These abridged 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 accounts have been prepared on the going concern basis. The directors have reviewed the financial position of the company including projections for future trading and obtained suitable assurances from the lenders.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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
-
10% per annum on cost
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:
Leasehold property
-
over the period of the lease
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 24 ).
5. Intangible assets
£
Cost
At 1 November 2023
330,000
Disposals
( 330,000)
---------
At 31 October 2024
---------
Amortisation
At 1 November 2023
330,000
Disposals
( 330,000)
---------
At 31 October 2024
---------
Carrying amount
At 31 October 2024
---------
At 31 October 2023
---------
6. Tangible assets
£
Cost
At 1 November 2023
228,646
Disposals
( 228,646)
---------
At 31 October 2024
---------
Depreciation
At 1 November 2023
226,663
Charge for the year
1,983
Disposals
( 228,646)
---------
At 31 October 2024
---------
Carrying amount
At 31 October 2024
---------
At 31 October 2023
1,983
---------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs J. Allen
( 7,648)
( 24,757)
( 32,405)
-------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs J. Allen
( 60,802)
53,154
( 7,648)
--------
--------
-------
8. Related party transactions
The company was under the control of Mrs J. Allen throughout the period. The income statement includes the following charges from Mr S.A. and Mrs J. Allen self invested pension fund:
2024 2023
£ £
Rent 34,200 38,000
-------- --------
No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.