J.J.Furness Limited - Accounts to registrar (filleted) - small 18.2
J.J.Furness Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| J.J.FURNESS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| J.J.FURNESS LIMITED (REGISTERED NUMBER: 00475411) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| J.J.FURNESS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 14 London Road |
| Newark |
| Nottinghamshire |
| NG24 1TW |
| J.J.FURNESS LIMITED (REGISTERED NUMBER: 00475411) |
| STATEMENT OF FINANCIAL POSITION |
| 30 APRIL 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve |
| Capital redemption reserve |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| J.J.FURNESS LIMITED (REGISTERED NUMBER: 00475411) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 APRIL 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved and authorised for issue by the director on |
| J.J.FURNESS LIMITED (REGISTERED NUMBER: 00475411) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 1. | STATUTORY INFORMATION |
| J.J.Furness Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue |
| Revenue represents net invoiced sales of produce and livestock, excluding value added tax. |
| Sales of produce are recognised upon despatch. Revenue from livestock is recognised on the day of sale. |
| Intangible assets |
| Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off |
| on a straight line basis over the period to 31 December 2019 when the scheme ends. |
| Property, plant and equipment |
| Land and buildings | - |
| Plant and machinery etc | - |
| Inventories |
| Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for |
| obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
| financial position 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those |
| held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are |
| depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the income statement over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| J.J.FURNESS LIMITED (REGISTERED NUMBER: 00475411) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 May 2018 |
| and 30 April 2019 |
| AMORTISATION |
| At 1 May 2018 |
| Charge for year |
| At 30 April 2019 |
| NET BOOK VALUE |
| At 30 April 2019 |
| At 30 April 2018 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2018 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 April 2019 |
| DEPRECIATION |
| At 1 May 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2019 |
| NET BOOK VALUE |
| At 30 April 2019 |
| At 30 April 2018 |
| The company has taken advantage of the exemption available under paragraph 35.10 (d) Section 1A of FRS 102 to use a |
| previous GAAP revaluation of freehold land and buildings as deemed cost. |
| J.J.FURNESS LIMITED (REGISTERED NUMBER: 00475411) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due in over 5 years | 1,256,263 | 251,148 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| The bank overdraft and loan are secured by fixed and floating charges over the company's freehold land and buildings. |
| J.J.FURNESS LIMITED (REGISTERED NUMBER: 00475411) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 2,800 | 3,500 |
| Preference | £1 | 250,000 | - |
| 252,800 | 3,500 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is J E Furness Limited. |
| Oddo House Farm |
| Elton |
| Matlock |
| Derbyshire |
| DE4 2BZ |