Company Registration number: 05866000

J & S Furness Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 8

J & S Furness Limited

Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	10,318	20,635
Tangible assets	5	811	1,323
		11,129	21,958
Current assets
Stocks	6	37,289	39,352
Debtors	7	1,674	1,255
Cash at bank and in hand		11,172	33,020
		50,135	73,627
Creditors: Amounts falling due within one year	8	(58,388)	(70,639)
Net current (liabilities)/assets		(8,253)	2,988
Total assets less current liabilities		2,876	24,946
Provisions for liabilities		-	(251)
Net assets		2,876	24,695
Capital and reserves
Called up share capital	9	100	100
Retained earnings		2,776	24,595
Shareholders' funds		2,876	24,695

J & S Furness Limited

Balance Sheet as at 31 July 2025 (continued)

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 05866000

Approved and authorised by the Board on 15 April 2026 and signed on its behalf by:
 

......................................... Mr J S Furness Company secretary and director

J & S Furness Limited

Notes to the financial statements for the Year Ended 31 July 2025

1	GENERAL INFORMATION

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

The address of its registered office is:
Kingmoor Road Post Office
Kingmoor Road
Carlisle
Cumbria
CA3 9PS

These financial statements were authorised for issue by the Board on 15 April 2026.

2	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

The financial statements have been prepared on the historical cost basis and in accordance with the
applicable accounting standards.

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.

- 3 -

J & S Furness Limited

Notes to the financial statements for the Year Ended 31 July 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

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

Taxation

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 corporation 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

J & S Furness Limited

Notes to the financial statements for the Year Ended 31 July 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	20% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

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.

J & S Furness Limited

Notes to the financial statements for the Year Ended 31 July 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the
contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
 

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 17 (2024 - 18).

J & S Furness Limited

Notes to the financial statements for the Year Ended 31 July 2025 (continued)

4	INTANGIBLE ASSETS

	Goodwill  £	Total £
Cost or valuation
At 1 August 2024	206,348	206,348
At 31 July 2025	206,348	206,348
Amortisation
At 1 August 2024	185,713	185,713
Amortisation charge	10,317	10,317
At 31 July 2025	196,030	196,030
Carrying amount
At 31 July 2025	10,318	10,318
At 31 July 2024	20,635	20,635

5	TANGIBLE ASSETS

	Fixtures, fittings and equipment £	Motor vehicles  £	Computer equipment £	Total £
Cost or valuation
At 1 August 2024	11,933	2,950	13,543	28,426
Disposals	-	(2,950)	(12,548)	(15,498)
At 31 July 2025	11,933	-	995	12,928
Depreciation
At 1 August 2024	10,971	2,880	13,253	27,104
Charge for the year	192	-	249	441
Eliminated on disposal	-	(2,880)	(12,548)	(15,428)
At 31 July 2025	11,163	-	954	12,117
Carrying amount
At 31 July 2025	770	-	41	811
At 31 July 2024	963	70	290	1,323

J & S Furness Limited

Notes to the financial statements for the Year Ended 31 July 2025 (continued)

6

STOCKS

	2025 £	2024 £
Stocks	37,289	39,352

7

DEBTORS

	2025 £	2024 £
Trade debtors	619	598
Prepayments	1,055	657
	1,674	1,255

8

CREDITORS

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	2,884	17,409
Taxation and social security	8,061	10,998
Accruals and deferred income	5,874	4,567
Other creditors	41,569	37,665
	58,388	70,639

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100