J.T. Hewitt & Son Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03605495 (England and Wales)

J.T. Hewitt & Son Limited

Unaudited Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J T Hewitt

Mr C P Hewitt

SECRETARY:

Mr J T Hewitt

REGISTERED OFFICE:

33 Chester Road West

Queensferry

Deeside

Flintshire

CH5 1SA

REGISTERED NUMBER:

03605495 (England and Wales)

ACCOUNTANTS:

Henry R. Davis & Co. Limited

Chartered Accountants

33 Chester Road West

Queensferry

Deeside

Flintshire

CH5 1SA

FIXED ASSETS

Intangible assets

4

-

2,130

Tangible assets

5

41,852

51,331

Investment property

6

175,516

175,516

217,368

228,977

CURRENT ASSETS

Debtors

7

124,407

69,437

Cash at bank and in hand

137,219

85,486

261,626

154,923

CREDITORS

Amounts falling due within one year

8

107,306

39,902

NET CURRENT ASSETS

154,320

115,021

TOTAL ASSETS LESS CURRENT LIABILITIES

371,688

343,998

PROVISIONS FOR LIABILITIES

7,951

9,752

NET ASSETS

363,737

334,246

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

363,637

334,146

SHAREHOLDERS' FUNDS

363,737

334,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 25 October 2019 and were signed on its behalf by:

Mr C P Hewitt - Director

1.	STATUTORY INFORMATION

J.T. Hewitt & Son 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

Goodwill

Goodwill, being the amount transferred in connection with the acquisition of the business on 1st January 1999,

is being written off evenly over its estimated useful life of 20 years.

Amounts recoverable on contract

Amounts recoverable on contract are recorded at their recoverable amount on a percentage basis, less any

payments on account, where there is reasonable certainty of the outcome.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

56,800

AMORTISATION

At 1 April 2018

54,670

Charge for year

2,130

At 31 March 2019

56,800

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

2,130

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

119,279

Additions

8,770

Disposals

(40,350

)

At 31 March 2019

87,699

DEPRECIATION

At 1 April 2018

67,948

Charge for year

10,619

Eliminated on disposal

(32,720

)

At 31 March 2019

45,847

NET BOOK VALUE

At 31 March 2019

41,852

At 31 March 2018

51,331

Included in cost of land and buildings is freehold land of £ 45,000 (2018 - £ 45,000 ) which is not depreciated.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

175,516

NET BOOK VALUE

At 31 March 2019

175,516

At 31 March 2018

175,516

The investment property was valued at £175,516 on an open market basis on 31st March 2019 by Mr J T

Hewitt a director of the company.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

122,489

67,170

Other debtors

1,918

2,267

124,407

69,437

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

32,675

12,677

Taxation and social security

47,083

24,799

Other creditors

27,548

2,426

107,306

39,902

9.	INVESTMENT PROPERTY

Land and buildings have been reclassified as investment property. The prior years accounts have been restated

to reflect the change. Depreciation charged of £2,610 and accumulated depreciation of £11,750 have been

adjusted.