REGISTERED NUMBER: |
JEDI 4X4 LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
REGISTERED NUMBER: |
JEDI 4X4 LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
JEDI 4X4 LTD (REGISTERED NUMBER: 09240722) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
JEDI 4X4 LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Exchange |
5 Bank Street |
Bury |
BL9 0DN |
JEDI 4X4 LTD (REGISTERED NUMBER: 09240722) |
STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Inventories |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
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. |
JEDI 4X4 LTD (REGISTERED NUMBER: 09240722) |
STATEMENT OF FINANCIAL POSITION - continued |
30 SEPTEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
JEDI 4X4 LTD (REGISTERED NUMBER: 09240722) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
1. | STATUTORY INFORMATION |
Jedi 4x4 Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09240722 and registered office address is Unit N, Waterfoot Business Centre, Clarke Holme Street, Rossendale, BB4 9HR. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The director has considered the impact of the global Covid-19 pandemic on the company and recognises that the future cannot be predicted with any certainty. Despite the challenging economic conditions, the reported results are encouraging and the director is confident that the company will continue to trade profitably. |
Taking all factors into account, the director is satisfied that the company is a going concern and that the accounts have been correctly prepared on this basis. |
Critical accounting estimates and judgements |
In the opinion of the director there are currently no critical accounting estimates or judgements applied in preparing the financial statements. |
Revenue |
Revenue represents the aggregate of the fair value of the sale of motor vehicles. Sales of motor vehicles are recognised when the company has supplied the vehicle to the customer, the customer has accepted the vehicle and collection of the related receivables is anticipated. |
Property, plant and equipment |
Plant and machinery etc | - |
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises. |
Government grants |
Grants are accounted for under the accruals model as permitted by FRS 102. |
Grants relating to revenue have been recognised in the same period as the related costs for which the grant is intended to compensate. |
Inventories |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is based on purchase price. Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion and disposal. |
JEDI 4X4 LTD (REGISTERED NUMBER: 09240722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost. |
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. |
Leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
JEDI 4X4 LTD (REGISTERED NUMBER: 09240722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2020 |
Additions |
At 30 September 2021 |
DEPRECIATION |
At 1 October 2020 |
Charge for year |
At 30 September 2021 |
NET BOOK VALUE |
At 30 September 2021 |
At 30 September 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 6,250 |
JEDI 4X4 LTD (REGISTERED NUMBER: 09240722) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |