Jarad Associates Ltd 11861896 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is dental practitioners. Digita Accounts Production Advanced 6.30.9574.0 true true 11861896 2022-05-01 2023-04-30 11861896 2023-04-30 11861896 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 11861896 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 11861896 core:CurrentFinancialInstruments 2023-04-30 11861896 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11861896 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11861896 core:FurnitureFittingsToolsEquipment 2023-04-30 11861896 core:MotorVehicles 2023-04-30 11861896 bus:SmallEntities 2022-05-01 2023-04-30 11861896 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11861896 bus:FullAccounts 2022-05-01 2023-04-30 11861896 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11861896 bus:RegisteredOffice 2022-05-01 2023-04-30 11861896 bus:Director1 2022-05-01 2023-04-30 11861896 bus:Director2 2022-05-01 2023-04-30 11861896 bus:Director3 2022-05-01 2023-04-30 11861896 bus:Director4 2022-05-01 2023-04-30 11861896 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11861896 core:ComputerEquipment 2022-05-01 2023-04-30 11861896 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 11861896 core:MotorVehicles 2022-05-01 2023-04-30 11861896 countries:UnitedKingdom 2022-05-01 2023-04-30 11861896 2022-04-30 11861896 core:FurnitureFittingsToolsEquipment 2022-04-30 11861896 core:MotorVehicles 2022-04-30 11861896 2021-04-01 2022-04-30 11861896 2022-04-30 11861896 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-04-30 11861896 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-04-30 11861896 core:CurrentFinancialInstruments 2022-04-30 11861896 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 11861896 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 11861896 core:FurnitureFittingsToolsEquipment 2022-04-30 11861896 core:MotorVehicles 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 11861896

Jarad Associates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Jarad Associates Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Jarad Associates Ltd

Company Information

Directors

F Jarad

S S Al Badri

H Jarad

D Jarad

Registered office

Bretton House
Bell Meadow Business Park
Park Lane
Pulford
Chester
CH4 9EP

Accountants

Duncan Boxwell & Company Limited
Chartered Accountants
Bretton House
Bell Meadow Business Park
Park Lane
Pulford
Chester
CH4 9EP

 

Jarad Associates Ltd

(Registration number: 11861896)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

48,339

5,012

Current assets

 

Debtors

5

9,447

8,412

Cash at bank and in hand

 

44,706

32,757

 

54,153

41,169

Creditors: Amounts falling due within one year

6

(12,039)

(11,392)

Net current assets

 

42,114

29,777

Total assets less current liabilities

 

90,453

34,789

Creditors: Amounts falling due after more than one year

6

(42,547)

-

Provisions for liabilities

(8,989)

(2,688)

Net assets

 

38,917

32,101

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

38,717

31,901

Shareholders' funds

 

38,917

32,101

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 October 2023 and signed on its behalf by:
 

 

Jarad Associates Ltd

(Registration number: 11861896)
Balance Sheet as at 30 April 2023

.........................................
F Jarad
Director

 

Jarad Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Bretton House
Bell Meadow Business Park
Park Lane
Pulford
Chester
CH4 9EP

These financial statements were authorised for issue by the Board on 13 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Jarad Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Jarad Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Jarad Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 4).

 

Jarad Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

9,555

-

9,555

Additions

4,310

57,990

62,300

At 30 April 2023

13,865

57,990

71,855

Depreciation

At 1 May 2022

4,543

-

4,543

Charge for the year

4,476

14,497

18,973

At 30 April 2023

9,019

14,497

23,516

Carrying amount

At 30 April 2023

4,846

43,493

48,339

At 30 April 2022

5,012

-

5,012

5

Debtors

Current

2023
£

2022
£

Trade debtors

289

6,336

Prepayments

9,158

-

Other debtors

-

2,076

 

9,447

8,412

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

11,976

1,135

Taxation and social security

 

-

7,112

Other creditors

 

63

3,145

 

12,039

11,392

 

Jarad Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

42,547

-

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

42,547

-

2023
£

2022
£

Current loans and borrowings

Bank borrowings

375

1,135

Hire purchase contracts

11,601

-

11,976

1,135

9

Related party transactions

The company was under the control of the directors throughout the year.

At the balance sheet date the company owed £63 (2022 - £3,143) to the directors. The loan is interest free and does not have a set repayment date.