REGISTERED NUMBER: |
C. J. (UK) LIMITED |
Financial Statements for the Year Ended 30 June 2023 |
REGISTERED NUMBER: |
C. J. (UK) LIMITED |
Financial Statements for the Year Ended 30 June 2023 |
C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477) |
Contents of the Financial Statements |
for the year ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 6 |
C. J. (UK) LIMITED |
Company Information |
for the year ended 30 June 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
5-6 Greenfield Crescent |
Edgbaston |
Birmingham |
West Midlands |
B15 3BE |
C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477) |
Notes to the Financial Statements |
for the year ended 30 June 2023 |
1. | Statutory information |
C. J. (UK) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Going concern |
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the company owes a net sum of £1,847,759 to other members of its group which is potentially repayable on demand. At the present time the company does not have adequate resources to fund the repayment of this liability if requested in full and this is expected to remain the case for at least the next 12 months. Thus the company's going concern status is dependent on maintaining ongoing financial support from other group companies for the next 12 months whereby the outstanding liabilities are not called in. |
The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment, and have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixed assets are initially recorded at cost. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - | 33% on cost, 20% on cost and 10% on cost |
Short leasehold | - | over the life of the lease |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company has elected to apply the exemption from provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
5. | Tangible fixed assets |
Fixtures |
Short | and |
leasehold | fittings | Totals |
£ | £ | £ |
Cost |
At 1 July 2022 |
Additions |
At 30 June 2023 |
Depreciation |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 | 101,425 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 26,303 | - |
Other creditors |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Other long term loans |
9. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
C. J. (UK) LIMITED (REGISTERED NUMBER: 02637477) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | 1 | 1,000 | 1,000 |
Ordinary B | 1 | 330 | 330 |
1,330 | 1,330 |
Ordinary A and Ordinary B shares have a right to receive notice of, attend and vote at a general meeting of the company, receive dividends and capital on wind up. |
11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | Related party disclosures |
The following amounts were owed by related parties at the reporting end date:- |
Other related parties £nil (2022: £8,395) |
The following amounts were owed to related parties at the reporting end date: |
Entities with control, joint control or significant influence over the company £1,847,759 (2022: £3,695,208) |
13. | Parent company |
Continental Holdings Limited (incorporated in Hong Kong) is regarded by the directors as company's ultimate parent company. |
The immediate parent company is Yett Holdings Limited, a company registered in the British Virgin Islands. |