1 December 2020 false No description of principal activity Taxfiler 2022.8.3 07088620business:PrivateLimitedCompanyLtd2020-12-012021-11-30 070886202020-11-30 070886202020-12-012021-11-30 07088620business:AuditExempt-NoAccountantsReport2020-12-012021-11-30 07088620business:FullAccounts2020-12-012021-11-30 070886202021-11-30 07088620business:Director12020-12-012021-11-30 07088620business:Director22020-12-012021-11-30 07088620business:CompanySecretary12020-12-012021-11-30 07088620business:RegisteredOffice2020-12-012021-11-30 070886202020-11-30 07088620core:WithinOneYear2021-11-30 07088620core:WithinOneYear2020-11-30 07088620core:SharePremium2021-11-30 07088620core:SharePremium2020-11-30 07088620core:RetainedEarningsAccumulatedLosses2021-11-30 07088620core:RetainedEarningsAccumulatedLosses2020-11-30 07088620business:SmallEntities2020-12-012021-11-30 07088620countries:EnglandWales2020-12-012021-11-30 07088620core:IntangibleAssetsOtherThanGoodwill2020-11-30 07088620core:IntangibleAssetsOtherThanGoodwill2021-11-30 07088620core:IntangibleAssetsOtherThanGoodwill2020-12-012021-11-30 07088620core:FurnitureFittings2020-11-30 07088620core:ComputerEquipment2020-11-30 07088620core:FurnitureFittings2020-12-012021-11-30 07088620core:ComputerEquipment2020-12-012021-11-30 07088620core:FurnitureFittings2021-11-30 07088620core:ComputerEquipment2021-11-30 07088620core:BetweenOneFiveYears2021-11-30 07088620core:BetweenOneFiveYears2020-11-30 070886202019-12-012020-11-30 iso4217:GBP xbrli:pure
Company Registration No. 07088620 (England and Wales)
The Jolly Savage Limited Unaudited accounts for the year ended 30 November 2021
The Jolly Savage Limited Unaudited accounts Contents
Page
- 2 -
The Jolly Savage Limited Company Information for the year ended 30 November 2021
Directors
Oliver Thomas Savage Leon Barrie Jolly
Secretary
Oliver Thomas Savage
Company Number
07088620 (England and Wales)
Registered Office
Ground Floor 66 Wilbury Way Hitchin Hertfordshire SG4 0TP
Accountants
Savage Accountants Limited Red Oaks, Reacliffe Road Rudyard Leek Staffordshire ST13 8RS
- 3 -
The Jolly Savage Limited Statement of financial position as at 30 November 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,364 
4,727 
Tangible assets
2,388 
2,570 
Investments
2,263 
2,263 
7,015 
9,560 
Current assets
Inventories
365,442 
449,666 
Debtors
609,335 
440,728 
Cash at bank and in hand
301,022 
283,985 
1,275,799 
1,174,379 
Creditors: amounts falling due within one year
(647,965)
(648,629)
Net current assets
627,834 
525,750 
Net assets
634,849 
535,310 
Capital and reserves
Share premium
4 
4 
Profit and loss account
634,845 
535,306 
Shareholders' funds
634,849 
535,310 
For the year ending 30 November 2021 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by
Oliver Thomas Savage Director Company Registration No. 07088620
- 4 -
The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2021
1
Statutory information
The Jolly Savage Limited is a private company, limited by shares, registered in England and Wales, registration number 07088620. The registered office is Ground Floor, 66 Wilbury Way, Hitchin, Hertfordshire, SG4 0TP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
No material adjustments were required.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write of the cost of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at rates of 25-33% per annum. Assets held under finance leases are depreciated in the same way as owned assets. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expenses in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as an expense in the period in which the reversal occurs.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities 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.
- 5 -
The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2021
Employee benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Pensions
The company operates an auto enrolment scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance sheet obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not re-translated.
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 December 2020
9,454 
At 30 November 2021
9,454 
Amortisation
At 1 December 2020
4,727 
Charge for the year
2,363 
At 30 November 2021
7,090 
Net book value
At 30 November 2021
2,364 
At 30 November 2020
4,727 
- 6 -
The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2021
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2020
11,731 
9,121 
20,852 
Disposals
- 
(1,068)
(1,068)
At 30 November 2021
11,731 
8,053 
19,784 
Depreciation
At 1 December 2020
9,811 
8,471 
18,282 
Charge for the year
960 
984 
1,944 
On disposals
- 
(2,830)
(2,830)
At 30 November 2021
10,771 
6,625 
17,396 
Net book value
At 30 November 2021
960 
1,428 
2,388 
At 30 November 2020
1,920 
650 
2,570 
6
Investments
Other investments 
£ 
Valuation at 1 December 2020
2,263 
Valuation at 30 November 2021
2,263 
7
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
436,479 
424,551 
Amounts due from group undertakings etc.
156,895 
- 
Accrued income and prepayments
6,811 
418 
Other debtors
9,150 
15,759 
609,335 
440,728 
8
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
278,606 
293,480 
VAT
88,888 
- 
Trade creditors
29,547 
21,591 
Taxes and social security
66,913 
216,763 
Other creditors
50,000 
97,936 
Loans from directors
133,411 
18,259 
Accruals
600 
600 
647,965 
648,629 
- 7 -
The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2021
9
Operating lease commitments
2021 
2020 
£ 
£ 
At 30 November 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
30,500 
30,500 
Within two to five years
7,625 
38,125 
38,125 
68,625 
10
Average number of employees
During the year the average number of employees was 13 (2020: 13).
- 8 -