Registered number
11465873
Jackmus Limited
Unaudited Filleted Accounts
31 January 2023
Jackmus Limited
Registered number: 11465873
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 1,237
Tangible assets 4 - 14,581
- 15,818
Current assets
Debtors 5 13,509 2,977
Cash at bank and in hand 52,270 50,999
65,779 53,976
Creditors: amounts falling due within one year 6 (13,113) (22,277)
Net current assets 52,666 31,699
Total assets less current liabilities 52,666 47,517
Provisions for liabilities - (2,770)
Net assets 52,666 44,747
Capital and reserves
Allotted called up and fully paid share capital 2 2
Profit and loss account 52,664 44,745
Shareholders' funds 52,666 44,747
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ivan Bennett
Director
Approved by the board on 18 October 2023
Jackmus Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Franchise fee 25% straight line
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Franchise fee:
Cost
At 1 February 2022 5,400
Disposals (5,400)
At 31 January 2023 -
Amortisation
At 1 February 2022 4,163
On disposals (4,163)
At 31 January 2023 -
Net book value
At 31 January 2023 -
At 31 January 2022 1,237
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 29,875
Disposals (29,875)
At 31 January 2023 -
Depreciation
At 1 February 2022 15,294
On disposals (15,294)
At 31 January 2023 -
Net book value
At 31 January 2023 -
At 31 January 2022 14,581
5 Debtors 2023 2022
£ £
Trade debtors - 1,300
Other debtors 13,509 1,677
13,509 2,977
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 540
Taxation and social security costs 8,708 6,273
Other creditors 4,405 15,464
13,113 22,277
7 Other information
Jackmus Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cavendish House
St Andrews Court
Leeds
LS3 1JY
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