REGISTERED NUMBER: 05055881 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

JFS WORKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M R Sanders

SECRETARY:

J F Sanders

REGISTERED OFFICE:

16 Union Road

Crediton

Devon

EX17 3AN

REGISTERED NUMBER:

05055881 (England and Wales)

ACCOUNTANTS:

Gravita Western Limited

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Investments

4

6,425,536

6,393,128

CREDITORS

Amounts falling due within one year

5

(4,350,952

)

(4,350,499

)

NET CURRENT LIABILITIES

(4,350,952

)

(4,350,499

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,074,584

2,042,629

CAPITAL AND RESERVES

Called up share capital

117,500

117,500

Retained earnings

1,957,084

1,925,129

2,074,584

2,042,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16 December 2025 and were signed by:

M R Sanders - Director

1.	COMPANY INFORMATION

JFS Works 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 (£).

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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents the company's share of profits and losses deriving from its various Partnership interests wholly undertaken in the UK.

Cash and cash equivalents

Cash and cash equivalents 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 current liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Investments

Fixed asset investments are stated at cost and represent the company's Partnership current account and permanent capital account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2024

6,393,128

Additions

(19,109

)

Share of profit/(loss)

51,517

At 31 March 2025

6,425,536

NET BOOK VALUE

At 31 March 2025

6,425,536

At 31 March 2024

6,393,128

Cost or valuation at 31 March 2025 is represented by:

Other

investments

£

Valuation in 2014

15,315

Cost

6,410,221

6,425,536

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

8,652

17,334

Other creditors

945,538

936,442

Loan

2,400,000

2,400,000

Directors' loan accounts

995,275

995,275

Accrued expenses

1,487

1,448

4,350,952

4,350,499

6.	RELATED PARTY DISCLOSURES

The Company is a partner in and has an active participating interest in a Partnership that trades under the name of The Bike Shed.

The director is also a partner in The Bike Shed.

The company's investment in this Partnership is detailed in the notes to the financial statements. Under the Partnership Agreement the Company is entitled to a share of Partnership profits.

A company in which M R Sanders and Mrs J F Sanders are both directors. Included in other creditors, is a loan and at the balance sheet date the amount owed by the company was £2,400,000 (2024 - £2,400,000). The loan is interest free and repayable on demand.