Registered number
11761318
JAGIR SINGH & SONS LIMITED
Filleted Accounts
31 January 2023
JAGIR SINGH & SONS LIMITED
Registered number: 11761318
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 425,000 425,000
425,000 425,000
Current assets
Cash at bank and in hand 39,571 11,663
39,571 11,663
Creditors: amounts falling due within one year 4 (6,314) (3,617)
Net current assets 33,257 8,046
Total assets less current liabilities 458,257 433,046
Creditors: amounts falling due after more than one year 5 (418,923) (418,923)
Net assets 39,334 14,123
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,234 14,023
Shareholders' funds 39,334 14,123
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.
Amarjit Singh SIDHU
Director
Approved by the board on 27 October 2023
JAGIR SINGH & SONS 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.
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:
Leasehold land and buildings over the lease term
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 425,000 - - 425,000
At 31 January 2023 425,000 - - 425,000
Depreciation
At 1 February 2022 - - - -
Charge for the year - - - -
Surplus on revaluation - - - -
On disposals - - - -
At 31 January 2023 - - - -
Net book value
At 31 January 2023 425,000 - - 425,000
At 31 January 2022 425,000 - - 425,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 5,914 3,117
Other creditors 400 500
6,314 3,617
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 418,923 418,923
418,923 418,923
JAGIR SINGH & SONS LIMITED 11761318 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts October 2023 Amarjit Singh SIDHU No description of principal activity 11761318 2021-02-01 2022-01-31 11761318 core:WithinOneYear 2022-01-31 11761318 core:AfterOneYear 2022-01-31 11761318 core:ShareCapital 2022-01-31 11761318 core:RetainedEarningsAccumulatedLosses 2022-01-31 11761318 2022-02-01 2023-01-31 11761318 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 11761318 bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 11761318 bus:Director40 2022-02-01 2023-01-31 11761318 2 2022-02-01 2023-01-31 11761318 core:LandBuildings 2022-02-01 2023-01-31 11761318 core:PlantMachinery 2022-02-01 2023-01-31 11761318 core:Vehicles 2022-02-01 2023-01-31 11761318 bus:FRS102 2022-02-01 2023-01-31 11761318 bus:FullAccounts 2022-02-01 2023-01-31 11761318 2023-01-31 11761318 core:WithinOneYear 2023-01-31 11761318 core:AfterOneYear 2023-01-31 11761318 core:ShareCapital 2023-01-31 11761318 core:RetainedEarningsAccumulatedLosses 2023-01-31 11761318 core:LandBuildings 2023-01-31 11761318 core:PlantMachinery 2023-01-31 11761318 core:Vehicles 2023-01-31 11761318 2022-01-31 11761318 core:LandBuildings 2022-01-31 11761318 core:PlantMachinery 2022-01-31 11761318 core:Vehicles 2022-01-31 iso4217:GBP xbrli:pure