J&J Franks Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00367777 (England and Wales)

J&J FRANKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Crate

G D Crate

SECRETARY:

Mrs H Crate

REGISTERED OFFICE:

Reigate Road Quarry

Reigate Road

Betchworth

Surrey

RH3 7HB

REGISTERED NUMBER:

00367777 (England and Wales)

ACCOUNTANTS:

Hakim Fry

Chartered Accountants

69-71 East Street

Epsom

Surrey

KT17 1BP

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

12,068,406

11,349,078

12,068,406

11,349,078

CURRENT ASSETS

Stocks

36,906

41,047

Debtors

6

1,336,184

1,236,213

Cash at bank and in hand

2,819,765

2,487,016

4,192,855

3,764,276

CREDITORS

Amounts falling due within one year

7

1,457,893

1,363,207

NET CURRENT ASSETS

2,734,962

2,401,069

TOTAL ASSETS LESS CURRENT
LIABILITIES

14,803,368

13,750,147

CREDITORS

Amounts falling due after more than one year

8

(7,759

)

(89,802

)

PROVISIONS FOR LIABILITIES

9

(1,532,849

)

(1,368,235

)

NET ASSETS

13,262,760

12,292,110

CAPITAL AND RESERVES

Called up share capital

10,800

Revaluation reserve

10

4,144,470

Capital redemption reserve

4,200

Other reserves

5,153

Retained earnings

9,098,137

8,127,487

13,262,760

12,292,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

P D Crate - Director

G D Crate - Director

1.	STATUTORY INFORMATION

J&J Franks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

25% on cost, 20% on cost and at varying rates on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

20,000

AMORTISATION

At 1 January 2024

and 31 December 2024

20,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2024

8,608,216

7,597,133

16,205,349

Additions

877,306

665,749

1,543,055

Disposals

-

(306,223

)

(306,223

)

At 31 December 2024

9,485,522

7,956,659

17,442,181

DEPRECIATION

At 1 January 2024

380,117

4,476,154

4,856,271

Charge for year

46,396

777,331

823,727

Eliminated on disposal

-

(306,223

)

(306,223

)

At 31 December 2024

426,513

4,947,262

5,373,775

NET BOOK VALUE

At 31 December 2024

9,059,009

3,009,397

12,068,406

At 31 December 2023

8,228,099

3,120,979

11,349,078

Included in cost or valuation of land and buildings is freehold land of £ 4,756,782 (2023 - £ 3,962,324 ) which is not depreciated.

Assets held under finance lease and hire purchase contracts included above have a net book value of £209,381 (2023: £754,066).

Land and buildings were valued on an open market basis on 31 December 2024 by the directors

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

949,623

828,679

Other debtors

386,561

407,534

1,336,184

1,236,213

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Hire purchase contracts

81,684

146,855

Trade creditors

382,589

313,048

Taxation and social security

511,506

399,803

Other creditors

482,114

503,501

1,457,893

1,363,207

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Hire purchase contracts

7,759

89,802

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

474,226

577,932

Deferred tax on revaluations

1,058,623

790,303

1,532,849

1,368,235

Deferred

tax

£

Balance at 1 January 2024

1,368,235

Credit to Income Statement during year

(103,706

)

Provided for revaluation

268,320

Balance at 31 December 2024

1,532,849

The deferred taxation provision has been calculated using a taxation rate of 25% and relates to accelerated capital allowances less the effect of short term reversible timing differences.

If the company's interest in freehold and long leasehold land & buildings were to be disposed of at the revalued amounts shown then a corporation tax liability would crystallise. Subject to any adjustment for March 1982 values and any available losses, the estimated tax charge would be £1,058,623 using a taxation rate of 25%.

10.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

4,144,470

11.	ULTIMATE CONTROLLING PARTY

The controlling party is P Crate Limited.

The ultimate controlling party is P D Crate.