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REGISTERED NUMBER: 09497961 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2022

FOR

J&K COMMERCIALS LIMITED

J&K COMMERCIALS LIMITED (REGISTERED NUMBER: 09497961)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


J&K COMMERCIALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2022







DIRECTORS: J K Williams
K Staples





SECRETARY: J K Williams





REGISTERED OFFICE: Unit 4, Teps Yard
Freightliner Road
Hull
East Yorkshire
HU3 4XL





REGISTERED NUMBER: 09497961 (England and Wales)






J&K COMMERCIALS LIMITED (REGISTERED NUMBER: 09497961)

BALANCE SHEET
31ST MAY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,449 25,554

CURRENT ASSETS
Debtors 5 24,543 38,220
Cash at bank 33,135 30,475
57,678 68,695
CREDITORS
Amounts falling due within one year 6 48,467 54,826
NET CURRENT ASSETS 9,211 13,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,660

39,423

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 28,560 39,323
SHAREHOLDERS' FUNDS 28,660 39,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2022 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 13th September 2022 and were signed on its behalf by:





J K Williams - Director


J&K COMMERCIALS LIMITED (REGISTERED NUMBER: 09497961)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2022

1. STATUTORY INFORMATION

J&K Commercials 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.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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 2 (2021 - 2 ) .

J&K COMMERCIALS LIMITED (REGISTERED NUMBER: 09497961)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2022

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st June 2021
and 31st May 2022 14,968 76,310 91,278
DEPRECIATION
At 1st June 2021 9,293 56,431 65,724
Charge for year 1,135 4,970 6,105
At 31st May 2022 10,428 61,401 71,829
NET BOOK VALUE
At 31st May 2022 4,540 14,909 19,449
At 31st May 2021 5,675 19,879 25,554

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 24,543 38,220

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 9,837 14,590
Corporation tax 10,540 13,287
Social security and other taxes 5,611 7,860
Directors' current accounts 21,729 18,389
Accruals and deferred income 750 700
48,467 54,826

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary 1 100 100

8. RESERVES
Retained
earnings
£   

At 1st June 2021 39,322
Profit for the year 41,238
Dividends (52,000 )
At 31st May 2022 28,560

9. ULTIMATE CONTROLLING PARTY

For both the current and the previous year, the company was under the control of its directors.