E. Jackson (Chatburn) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00909769 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

E. Jackson (Chatburn) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Jackson

M E Jackson

SECRETARY:

A Jackson

REGISTERED OFFICE:

8/9 Lincoln Way

Salthill Industrial Estate

Clitheroe

Lancashire

BB7 1QD

REGISTERED NUMBER:

00909769 (England and Wales)

ACCOUNTANTS:

Bennett Kirkhope Smith

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

827,641

813,918

CURRENT ASSETS

Stocks

245,953

143,359

Debtors

5

80,253

66,103

Cash at bank

4,532

9,567

330,738

219,029

CREDITORS

Amounts falling due within one year

6

666,795

567,204

NET CURRENT LIABILITIES

(336,057

)

(348,175

)

TOTAL ASSETS LESS CURRENT LIABILITIES

491,584

465,743

CREDITORS

Amounts falling due after more than one year

7

-

18,771

NET ASSETS

491,584

446,972

CAPITAL AND RESERVES

Called up share capital

9

7,000

7,000

Revaluation reserve

10

378,418

378,418

Retained earnings

106,166

61,554

SHAREHOLDERS' FUNDS

491,584

446,972

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 and authorised for issue on 15 June 2020 and were signed on its behalf by:

A Jackson - Director

1.	STATUTORY INFORMATION

E. Jackson (Chatburn) 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 as modified by the revaluation of certain assets.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

No depreciation is provided on freehold land and buildings. Although this policy is in accordance with

Financial Reporting Standard 102 the non-depreciation is a departure from the general requirement of

the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors,

compliance with the standard is necessary for the financial statements to give a true and fair view.

Depreciation is only one of many factors reflected in the annual valuation and the amount of this which

might otherwise have been charged cannot be separately identified or quantified.

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

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 profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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 5 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 September 2018

780,291

43,651

17,833

69,700

911,475

Additions

7,961

875

290

11,900

21,026

Disposals

-

-

-

(1,100

)

(1,100

)

At 31 August 2019

788,252

44,526

18,123

80,500

931,401

DEPRECIATION

At 1 September 2018

-

34,706

14,796

48,055

97,557

Charge for year

-

917

307

4,997

6,221

Eliminated on disposal

-

-

-

(18

)

(18

)

At 31 August 2019

-

35,623

15,103

53,034

103,760

NET BOOK VALUE

At 31 August 2019

788,252

8,903

3,020

27,466

827,641

At 31 August 2018

780,291

8,945

3,037

21,645

813,918

Cost or valuation at 31 August 2019 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2008

300,365

-

-

-

300,365

Valuation in 2014

14,676

-

-

-

14,676

Cost

473,211

44,526

18,123

80,500

616,360

788,252

44,526

18,123

80,500

931,401

If freehold property had not been revalued it would have been included at the following historical cost:

31.8.19

31.8.18

£

£

Cost

473,211

465,250

Aggregate depreciation

63,377

63,377

Freehold property was valued on an open market basis on 18 August 2014 by Mortimers Estate

Agents. The directors believe the valuation is still appropriate.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1 September 2018

and 31 August 2019

11,666

DEPRECIATION

At 1 September 2018

2,956

Charge for year

1,742

At 31 August 2019

4,698

NET BOOK VALUE

At 31 August 2019

6,968

At 31 August 2018

8,710

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

77,961

64,013

Other debtors

1,000

1,000

Prepayments

1,292

1,090

80,253

66,103

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans and overdrafts

16,003

22,010

Hire purchase contracts

2,956

3,559

Trade creditors

21,182

29,734

Corporation tax

8,862

6,675

Social security and other taxes

6,722

7,100

VAT

15,770

8,999

Other creditors

173,000

173,000

Service United Limited

18,437

18,437

Directors' current accounts

379,748

279,289

Accrued expenses

24,115

18,401

666,795

567,204

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans 1-5 years

-

15,815

Hire purchase contracts

-

2,956

-

18,771

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.19

31.8.18

£

£

Hire purchase contracts

2,956

6,515

The hire purchase creditor is secured on the asset to which it relates.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.19

31.8.18

value:

£

£

7,000

Ordinary

£1

7,000

7,000

10.

RESERVES

Revaluation

reserve

£

At 1 September 2018

and 31 August 2019

378,418

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Jackson.