J.J.Field and Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00731268

J.J.FIELD AND COMPANY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

J.J.FIELD AND COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		1,476,245		1,437,054

CURRENT ASSETS

Stocks		25,546	22,422
Debtors	6	826,349	482,111
Cash at bank and in hand		429,334	524,859
		------------	------------
		1,281,229	1,029,392

CREDITORS: amounts falling due within one year	7	422,345		278,695
		------------		------------
NET CURRENT ASSETS			858,884		750,697
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			2,335,129		2,187,751

PROVISIONS

Taxation including deferred tax	235,938	225,383
	------------	------------
NET ASSETS	2,099,191	1,962,368
	------------	------------

CAPITAL AND RESERVES

Called up share capital	8	6,550	6,550
Profit and loss account		2,092,641	1,955,818
		------------	------------
SHAREHOLDERS FUNDS		2,099,191	1,962,368
		------------	------------

These 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 statement of income and retained earnings has not been delivered.

For the year ending 31 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

J.J.FIELD AND COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 14 October 2025 , and are signed on behalf of the board by:

G J FIELD MRS S M WALKER

Directors

Company registration number: 00731268

J.J.FIELD AND COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Red Hill Garage, Prospect Row, Dudley, Worcestershire, DY2 8SG.

2. STATEMENT OF COMPLIANCE

These 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 financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the statement of income and retained earnings. The financial statements are prepared in sterling, which is the functional currency of the entity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents the invoiced value of services and goods supplied, stated net of value added tax, during the period. Haulage income is recognised on the date that the job is carried out, repairs income is recognised when the repair has been completed.

Taxation

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.

Fixed assets

Fixed assets are initially recorded at cost.

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:

Land and buildings	-	2% straight line
Fixtures, fittings and computer equipment	-	10% reducing balance and 20% reducing balance
Motor vehicles	-	20% reducing balance
Garage equipment	-	10% reducing balance

Land included as part of freehold property is not depreciated.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis, with net realisable value representing estimated selling price. Provision is made for slow moving, obsolete or damaged stock where net realisable value is less than cost.

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

The costs of providing pensions in respect of the company's defined contribution schemes are charged to the profit and loss account in the period to which they relate.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 18 (2024: 16 ).

5. TANGIBLE ASSETS

	Land and buildings	Fixtures, fittings and computer equipment	Motor vehicles	Garage equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	599,083	45,472	2,060,641	47,142	2,752,338
Additions	–	–	307,543	–	307,543
Disposals	–	–	( 151,214)	–	( 151,214)
	---------	--------	------------	--------	------------
At 31 March 2025	599,083	45,472	2,216,970	47,142	2,908,667
	---------	--------	------------	--------	------------
Depreciation
At 1 April 2024	61,075	34,123	1,191,179	28,907	1,315,284
Charge for the year	3,238	1,496	225,852	1,824	232,410
Disposals	–	–	( 115,272)	–	( 115,272)
	---------	--------	------------	--------	------------
At 31 March 2025	64,313	35,619	1,301,759	30,731	1,432,422
	---------	--------	------------	--------	------------
Carrying amount
At 31 March 2025	534,770	9,853	915,211	16,411	1,476,245
	---------	--------	------------	--------	------------
At 31 March 2024	538,008	11,349	869,462	18,235	1,437,054
	---------	--------	------------	--------	------------

The cost of depreciable assets included in freehold property at 31 March 2025 was £161,868 (2024 : £161,868).

6. DEBTORS

	2025	2024
	£	£
Trade debtors	552,930	432,012
Other debtors	273,419	50,099
	---------	---------
	826,349	482,111
	---------	---------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	165,346	111,954
Corporation tax	96,616	37,405
Social security and other taxes	77,534	52,542
Other creditors	82,849	76,794
	---------	---------
	422,345	278,695
	---------	---------

8. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	6,550	6,550	6,550	6,550
	-------	-------	-------	-------