John Jackson and Sons Limited - Period Ending 2014-05-31

Registration number: 03765874

John Jackson and Sons Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

A P Robinson LLP
Chartered Accountants
107 Cleethorpe Road
Grimsby
N E Lincolnshire
DN31 3ER

John Jackson and Sons Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

  Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
  John Jackson and Sons Limited
  for the Year Ended 31 May 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of John Jackson and Sons Limited for the year ended 31 May 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of John Jackson and Sons Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of John Jackson and Sons Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Jackson and Sons Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that John Jackson and Sons Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of John Jackson and Sons Limited. You consider that John Jackson and Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of John Jackson and Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

A P Robinson LLP
Chartered Accountants
107 Cleethorpe Road
Grimsby
N E Lincolnshire
DN31 3ER

11 September 2014

Page 1

John Jackson and Sons Limited
(Registration number: 03765874)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					6,877			14,055
Current assets
Stocks					25,000			22,603
Debtors					83,253			105,327
Cash at bank and in hand					8,548			919
					116,801			128,849
Creditors: Amounts falling due within one year					(90,693)			(108,501)
Net current assets					26,108			20,348
Net assets					32,985			34,403
Capital and reserves
Called up share capital		3			100			100
Share premium account					11,733			11,733
Profit and loss account					21,152			22,570
Shareholders' funds					32,985			34,403

For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 11 September 2014 and signed on its behalf by:

.........................................
Mr J Jackson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

John Jackson and Sons Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line
Motor vehicles	25% straight line
Fixtures and fittings	15% reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

John Jackson and Sons Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2013		58,379			58,379
At 31 May 2014		58,379			58,379
Depreciation
At 1 June 2013		44,324			44,324
Charge for the year		7,178			7,178
At 31 May 2014		51,502			51,502
Net book value
At 31 May 2014		6,877			6,877
At 31 May 2013		14,055			14,055

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary A shares of £1 each		98			98			98			98
Ordinary B shares of £1 each		2			2			2			2
		100			100			100			100

4

Control

The company is controlled by Mr John Jackson who owns 98% of the issued share capital.

Page 4