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Registration number: 00744561

Albert E.James & Son Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Pages for filing with Registrar

Albert E.James & Son Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Albert E.James & Son Limited

Company Information

Director | J M Mogg

Registered office | Barrow Mill Barrow Street Barrow Gurney Bristol BS48 3RU

Registered number | 00744561

Accountant | Corrigan Accountants Limited 1st Floor 25 King Street Bristol BS1 4PB

Albert E.James & Son Limited

(Registration number: 00744561)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 5 | 346,699 | 54,918
Current assets |  |  |
Stocks |  | 439,050 | 423,102
Debtors | 6 | 505,823 | 693,074
Cash at bank and in hand |  | 223,456 | 368,891
|  | 1,168,329 | 1,485,067
Creditors: Amounts falling due within one year | 7 | (708,264) | (672,576)
Net current assets |  | 460,065 | 812,491
Total assets less current liabilities |  | 806,764 | 867,409
Creditors: Amounts falling due after more than one year | 7 | (219,975) | (139,000)
Provisions for liabilities |  | (56,700) | (9,850)
Net assets |  | 530,089 | 718,559
Capital and reserves |  |  |
Called up share capital | 8 | 3,976 | 3,976
Share premium reserve |  | 1,024 | 1,024
Profit and loss account |  | 525,089 | 713,559
Total equity |  | 530,089 | 718,559

Albert E.James & Son Limited

(Registration number: 00744561)
Balance Sheet as at 31 December 2024

For the financial 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.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 27 August 2025

.........................................

J M Mogg
Director

Albert E.James & Son Limited

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

1 | Statutory information

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

The address of its registered office is:
Barrow Mill
Barrow Street
Barrow Gurney
Bristol
BS48 3RU

2 | Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The director has indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales, 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.

Albert E.James & Son Limited

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

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
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Tangible fixed 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 fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Leasehold land and buildings | over the life of the lease
Plant and machinery | 15% reducing balance
Motor vehicles | 25% reducing balance
Computer equipment | 25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost, 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.

Albert E.James & Son Limited

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

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.

Trade creditors

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
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.

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.

Albert E.James & Son Limited

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

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.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 17 (2023 - 15).

Albert E.James & Son Limited

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

4 | Taxation

Deferred tax

Deferred tax assets and liabilities

2024 | Asset £ | Liability £
Arising from origination and reversal of timing differences | - | 80,475
Taxable trading losses | 23,775 | -
| 23,775 | 80,475

2023 | Asset £ | Liability £
Arising from origination and reversal of timing differences | - | 9,850
| - | 9,850

5 | Tangible fixed assets

| Land and buildings £ | Computer Equipment £ | Motor vehicles £ | Plant and Machinery £ | Total £
Cost
At 1 January 2024 | 82,485 | - | 191,785 | 635,817 | 910,087
Additions | - | 833 | - | 325,455 | 326,288
At 31 December 2024 | 82,485 | 833 | 191,785 | 961,272 | 1,236,375
Depreciation
At 1 January 2024 | 82,485 | - | 191,785 | 580,899 | 855,169
Charge for the year | - | 69 | - | 34,438 | 34,507
At 31 December 2024 | 82,485 | 69 | 191,785 | 615,337 | 889,676
Carrying amount
At 31 December 2024 | - | 764 | - | 345,935 | 346,699
At 31 December 2023 | - | - | - | 54,918 | 54,918

Included within the net book value of plant and machinery above is £287,263 (2023 - £Nil) in respect of assets held under hire purchase agreements.

Albert E.James & Son Limited

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

6 | Debtors: amounts falling due within one year

| 2024 £ | 2023 £
Trade debtors | 448,725 | 394,816
Amounts owed by group undertakings | - | 207,908
Other debtors | 1,317 | 45,093
Prepayments | 55,781 | 45,257
| 505,823 | 693,074

7 | Creditors

| 2024 £ | 2023 £
Amounts falling due within one year |  |
Bank borrowings | 83,400 | 83,400
Hire purchase and finance lease liabilities | 44,945 | -
Trade creditors | 487,933 | 393,763
Taxation and social security | 64,508 | 89,214
Other creditors | 5,889 | 4,502
Accruals | 20,031 | 21,978
Director's loan account | 1,558 | 1,103
Corporation tax | - | 78,616
| 708,264 | 672,576

| 2024 £ | 2023 £
Due after one year |  |
Bank loans | 55,600 | 139,000
Hire purchase and finance lease liabilities | 164,375 | -
| 219,975 | 139,000

Albert E.James & Son Limited

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

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 3,976 | 3,976 | 3,976 | 3,976

9 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2024 £ | 2023 £
| 134,750 | 147,188

10 | Parent company

The parent company is Albert E. James & Son Holdings Limited and its registered office is Barrow Mill Barrow Street, Barrow Gurney, Bristol, England, BS48 3RU.