Silverfin false false 30/11/2024 01/12/2023 30/11/2024 M Bainbridge 30/09/2024 S J Caithness P Dinsdale 19/02/2024 S F Goodall J S Johnson M B Malt D Smith 30/09/2024 28 August 2025 The principal activity of the company is that of providing engineering consultancy services. 07147693 2024-11-30 07147693 bus:Director1 2024-11-30 07147693 bus:Director3 2024-11-30 07147693 bus:Director7 2024-11-30 07147693 2023-11-30 07147693 core:CurrentFinancialInstruments 2024-11-30 07147693 core:CurrentFinancialInstruments 2023-11-30 07147693 core:Non-currentFinancialInstruments 2024-11-30 07147693 core:Non-currentFinancialInstruments 2023-11-30 07147693 core:ShareCapital 2024-11-30 07147693 core:ShareCapital 2023-11-30 07147693 core:RetainedEarningsAccumulatedLosses 2024-11-30 07147693 core:RetainedEarningsAccumulatedLosses 2023-11-30 07147693 core:Goodwill 2023-11-30 07147693 core:Goodwill 2024-11-30 07147693 core:LeaseholdImprovements 2023-11-30 07147693 core:PlantMachinery 2023-11-30 07147693 core:FurnitureFittings 2023-11-30 07147693 core:LeaseholdImprovements 2024-11-30 07147693 core:PlantMachinery 2024-11-30 07147693 core:FurnitureFittings 2024-11-30 07147693 core:ImmediateParent core:CurrentFinancialInstruments 2024-11-30 07147693 core:ImmediateParent core:CurrentFinancialInstruments 2023-11-30 07147693 2023-12-01 2024-11-30 07147693 bus:FilletedAccounts 2023-12-01 2024-11-30 07147693 bus:SmallEntities 2023-12-01 2024-11-30 07147693 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 07147693 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 07147693 bus:Director1 2023-12-01 2024-11-30 07147693 bus:Director2 2023-12-01 2024-11-30 07147693 bus:Director3 2023-12-01 2024-11-30 07147693 bus:Director4 2023-12-01 2024-11-30 07147693 bus:Director5 2023-12-01 2024-11-30 07147693 bus:Director6 2023-12-01 2024-11-30 07147693 bus:Director7 2023-12-01 2024-11-30 07147693 core:Goodwill core:TopRangeValue 2023-12-01 2024-11-30 07147693 core:LeaseholdImprovements core:TopRangeValue 2023-12-01 2024-11-30 07147693 core:PlantMachinery core:TopRangeValue 2023-12-01 2024-11-30 07147693 core:FurnitureFittings core:TopRangeValue 2023-12-01 2024-11-30 07147693 2022-12-01 2023-11-30 07147693 core:Goodwill 2023-12-01 2024-11-30 07147693 core:LeaseholdImprovements 2023-12-01 2024-11-30 07147693 core:PlantMachinery 2023-12-01 2024-11-30 07147693 core:FurnitureFittings 2023-12-01 2024-11-30 07147693 core:Non-currentFinancialInstruments 2023-12-01 2024-11-30 07147693 1 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Company No: 07147693 (England and Wales)

J HUMPHREY & PARTNERS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

J HUMPHREY & PARTNERS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

J HUMPHREY & PARTNERS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2024
J HUMPHREY & PARTNERS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 113,750 134,750
Tangible assets 4 92,221 111,767
205,971 246,517
Current assets
Debtors 5 623,421 821,996
Cash at bank and in hand 80,828 556,386
704,249 1,378,382
Creditors: amounts falling due within one year 6 ( 370,578) ( 282,365)
Net current assets 333,671 1,096,017
Total assets less current liabilities 539,642 1,342,534
Creditors: amounts falling due after more than one year 7 ( 4,656) ( 9,501)
Provision for liabilities ( 27,942) ( 27,942)
Net assets 507,044 1,305,091
Capital and reserves
Called-up share capital 6 6
Profit and loss account 507,038 1,305,085
Total shareholder's funds 507,044 1,305,091

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of J Humphrey & Partners Limited (registered number: 07147693) were approved and authorised for issue by the Board of Directors on 28 August 2025. They were signed on its behalf by:

M B Malt
Director
J HUMPHREY & PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
J HUMPHREY & PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J Humphrey & Partners Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 The Bulrushes, Woodstock Way, Boldon Business Park, South Tyneside, NE35 9PF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of J Humphrey & Partners Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 20 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Amounts recoverable on contracts comprises direct labour costs that have been incurred to date on projects. At each reporting date, amounts recoverable on contracts is assessed for impairment. If deemed to be impaired, the carrying amount is reduced to its selling price less costs to complete the project; the impairment loss is recognised immediately in profit or loss.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 18

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2023 420,000 420,000
At 30 November 2024 420,000 420,000
Accumulated amortisation
At 01 December 2023 285,250 285,250
Charge for the financial year 21,000 21,000
At 30 November 2024 306,250 306,250
Net book value
At 30 November 2024 113,750 113,750
At 30 November 2023 134,750 134,750

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 December 2023 79,726 66,074 13,684 159,484
Additions 170 0 0 170
Disposals ( 200) ( 1,228) 0 ( 1,428)
At 30 November 2024 79,696 64,846 13,684 158,226
Accumulated depreciation
At 01 December 2023 3,128 39,159 5,430 47,717
Charge for the financial year 3,993 14,171 1,368 19,532
Disposals ( 16) ( 1,228) 0 ( 1,244)
At 30 November 2024 7,105 52,102 6,798 66,005
Net book value
At 30 November 2024 72,591 12,744 6,886 92,221
At 30 November 2023 76,598 26,915 8,254 111,767

5. Debtors

2024 2023
£ £
Trade debtors 505,950 572,743
Amounts owed by Parent undertakings 0 18,722
Amounts recoverable on contracts 68,322 140,800
Prepayments 49,149 49,296
Corporation tax 0 40,435
623,421 821,996

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 133,473 110,082
Amounts owed to directors 0 258
Accruals 147,093 63,735
Other taxation and social security 77,216 90,240
Obligations under finance leases and hire purchase contracts 6,208 7,570
Other creditors 6,588 10,480
370,578 282,365

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 4,656 9,501

Included in the creditors above are amounts due on hire purchase of £10,864 (2023: £17,071) which are secured against the assets to which they relate.

8. Ultimate controlling party

Parent Company:

The parent company is J Humphrey (Holdings) Limited, a holding company which is incorporated in the United Kingdom.

The ultimate parent company is J Humphrey & Partners Trustee Limited, which is incorporated in the United Kingdom.

J Humphrey (Holdings) shares are owned 100% by J Humphrey & Partners Trustee Limited.