Registered number
11769609
Jigsaw Interiors Limited
Filleted Accounts
31 January 2023
Jigsaw Interiors Limited
Registered number: 11769609
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,766 6,706
Current assets
Debtors 4 5,137 5,872
Cash at bank and in hand 13,974 6,131
19,111 12,003
Creditors: amounts falling due within one year 5 (21,899) (22,387)
Net current liabilities (2,788) (10,384)
Net assets/(liabilities) 1,978 (3,678)
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,878 (3,778)
Shareholder's funds 1,978 (3,678)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
S S Ubhi, Esq.
Director
Approved by the board on 19 October 2023
Jigsaw Interiors 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, and is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Computer equipment over 3 years
Computer software over 5 years
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. Current tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 12,706
Additions 400
At 31 January 2023 13,106
Depreciation
At 1 February 2022 6,000
Charge for the year 2,340
At 31 January 2023 8,340
Net book value
At 31 January 2023 4,766
At 31 January 2022 6,706
4 Debtors 2023 2022
£ £
Other debtors 5,137 5,872
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,477 1,459
Other creditors 19,422 20,928
21,899 22,387
Included in Other creditors is £16,872 (2021: £18,248) owing to the director. The loan is interest-free and has no fixed date of repayment. The director has confirmed that the loan will only be repaid as and when cash flow permits.
6 Controlling party
The company is controlled by S. Ubhi, Esq and Mrs J Ubhi who own 76% of the issued share capital of the company.
7 Other information
Jigsaw Interiors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
Manor Way
Borehamwood
Hertfordshire
WD6 1QQ
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