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(1) General Information
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Jack Croft Oil.Servicing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number
13829390. The registered office is 51 Williams Road, Steeton, Keighley, West Yorkshire, BD20 6PQ. |
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(2) Significant Accounting Policies
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Basis of Preparation
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| The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
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Revenue recognition
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| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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Sale of goods
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| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
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Rendering of Services
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| Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
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Tangible Fixed Assets and Depreciation
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| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: | | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | | | Equipment | | | Motor Cars | 25% reducing balance |
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Inventories
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| Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. |
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Taxation
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| Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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Current Tax
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| The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
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Deferred Tax
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A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
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(3) Employees
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| During the year, the average number of employees including director was 1 (2025 : 1). |
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(4) Tangible fixed assets
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| Motor Vehicles | | £ | | Cost | | | As at 01 February 2025 | 46,000 | | As at 31 January 2026 | 46,000 | | Depreciation | | | As at 01 February 2025 | 21,720 | | For the year | 6,070 | | As at 31 January 2026 | 27,790 | | Net book value | | | As at 31 January 2026 | 18,210 | | As at 31 January 2025 | 24,280 |
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(5) Inventories
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| | | 2026 | | 2025 | | £ | | £ | | | | | | | Stock of Finished Goods | 1,250 | | 1,250 | | 1,250 | | 1,250 |
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(6) Debtors
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Amounts falling due within one year
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| | | 2026 | | 2025 | | £ | | £ | | | Trade debtors | 11,128 | | 330 | | Other debtors | 352 | | 6,572 | | Prepayments and accrued income | 1,815 | | 209 | | 13,296 | | 7,111 |
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(7) Creditors: Amounts falling due within one year
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| | | 2026 | | 2025 | | £ | | £ | | | Trade creditors | 6,201 | | 473 | | | | | | | | | | Other taxes and social security | 11,473 | | 15,576 | | Other creditors | 25,764 | | 22,612 | | Accruals and deferred income | 1,715 | | 1,820 | | 45,153 | | 40,481 |
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(8) Share capital
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| | Alloted, called up and fully paid: | 2026 | | 2025 | | £ | | £ | | | 100 (2025 : 100) Ordinary Shares of £ 1 each | 100 | | 100 | | 100 | | 100 | | | | | Retained earnings | | | 2026 | | | | £ | | At 1 February 2025 | | | 781 | | Profit of the year | | | 30,297 | | Dividends paid | | | (30,000) | | At 31 January 2026 | | | 1,078 | |
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