Jealous Sweets Limited (formerly Grosvenor Castle Limited) Filleted Accounts Cover
Jealous Sweets Limited (formerly Grosvenor Castle Limited)
Company No. 07379225
Information for Filing with The Registrar
31 December 2022
Jealous Sweets Limited (formerly Grosvenor Castle Limited) Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2022.
Principal activities
The principal activity of the company during the year under review was trading as a confectionary business.
Change of name
The company name changed from Grosvenor Castle Limited to Jealous Sweets Limited on 21st June 2023.
Directors
The Directors who served at any time during the year were as follows:
S. Ahuja
T. Basunia
T. Basunia
I. Merza
N. Saperia
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
T. Basunia
Director
28 September 2023
Jealous Sweets Limited (formerly Grosvenor Castle Limited) Balance Sheet Registrar
at
31 December 2022
Company No.
07379225
Notes
2022
2021
£
£
Fixed assets
Intangible assets
4
12,07412,074
Tangible assets
5
1,8524,072
13,92616,146
Current assets
Stocks
6
134,642151,938
Debtors
7
90,159166,125
Cash at bank and in hand
28,35352,240
253,154370,303
Creditors: Amount falling due within one year
8
(318,669)
(332,723)
Net current (liabilities)/assets
(65,515)
37,580
Total assets less current liabilities
(51,589)
53,726
Creditors: Amounts falling due after more than one year
9
(178,260)
(196,772)
Net liabilities
(229,849)
(143,046)
Capital and reserves
Called up share capital
417417
Share premium account
10
399,847399,847
Profit and loss account
10
(630,113)
(543,310)
Total equity
(229,849)
(143,046)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2022 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 28 September 2023
And signed on its behalf by:
T. Basunia
Director
28 September 2023
Jealous Sweets Limited (formerly Grosvenor Castle Limited) Notes to the Accounts Registrar
for the year ended 31 December 2022
1
General information
Its registered number is: 07379225
Its registered office is:
82 St John Street
London
EC1M 4JN
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
Going concern
As at the date of accounts signatory the company has raised an additional £461,334 of equity to support the growth plans of the business, including rebranding and improvements in the supply chain to increase margin. The August 2023 management accounts represent positive net assets of £132,014 and positive net current assets £139,514. The directors therefore consider that the company has sufficient funding for the foreseeable future along with increased sales levels and additional fundraising if required. The Financial Statements have therefore been prepared as a going concern on the basis that the company is expected to continue in operational existence for the foreseeable future.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Reducing balance
Furniture, fittings and equipment
25% Reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 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 expense 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 a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2022
2021
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Intangible fixed assets
Other
Total
£
£
Cost
At 1 January 2022
12,07412,074
At 31 December 2022
12,07412,074
Amortisation and impairment
Net book values
At 31 December 2022
12,07412,074
At 31 December 2021
12,07412,074
5
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 January 2022
9,5292,00011,529
Disposals
(1,202)
-
(1,202)
At 31 December 2022
8,3272,00010,327
Depreciation
At 1 January 2022
5,5341,9237,457
Charge for the year
999191,018
At 31 December 2022
6,5331,9428,475
Net book values
At 31 December 2022
1,794581,852
At 31 December 2021
3,995
77
4,072
6
Stocks
2022
2021
£
£
Finished goods
134,642151,938
134,642151,938
7
Debtors
2022
2021
£
£
Trade debtors
64,637101,623
Other debtors
17,40464,502
Prepayments and accrued income
8,118-
90,159166,125
8
Creditors:
amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
83,88294,477
Trade creditors
181,610167,179
Taxes and social security
29,740
55,972
Other creditors
5,22414,345
Accruals and deferred income
18,213750
318,669332,723
9
Creditors:
amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
62,50087,500
Other creditors
115,760109,272
178,260196,772
10
Reserves
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
11
Post balance sheet events
As at the date of accounts signatory the company has raised an additional £461,330 of equity following a share issue of 12,815 A Ordinary shares (at £36 per share) to support the growth plans of the business for rebranding, improvements in the supply chain to increase margin and for working capital. As per the August 2023 management accounts the Company has positive net assets of £132,014 and positive net current assets of £139,514. Further equity funding has been pledged in October 2023.
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