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Registration number: 08191357

JGSW Inc Ltd

Annual Filleted Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

JGSW Inc Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

JGSW Inc Ltd

Company Information

Directors

Mr Joshua Harrison Clayborough

Mr Greg Scarth

Registered office

Unit 6, Swinnow Court
621 Stanningley Road
Bramley
Leeds
LS13 4ER

Accountants

Smith Butler
Accountants & Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

JGSW Inc Ltd

(Registration number: 08191357)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

4,597

4,597

Cash at bank and in hand

 

15

15

 

4,612

4,612

Creditors: Amounts falling due within one year

5

(1,666)

(1,666)

Total assets less current liabilities

 

2,946

2,946

Creditors: Amounts falling due after more than one year

5

(12,000)

(12,000)

Net liabilities

 

(9,054)

(9,054)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(9,154)

(9,154)

Shareholders' deficit

 

(9,054)

(9,054)

For the financial year ending 31 August 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 7 November 2023 and signed on its behalf by:
 

.........................................
Mr Joshua Harrison Clayborough
Director

 

JGSW Inc Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6, Swinnow Court
621 Stanningley Road
Bramley
Leeds
LS13 4ER

These financial statements were authorised for issue by the Board on 7 November 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.

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.

Depreciation

Asset class

Depreciation method and rate

Office equipment

25% Straight line

 

JGSW Inc Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3

Staff numbers

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

4

Debtors

Current

2023
£

2022
£

Other debtors

4,597

4,597

 

JGSW Inc Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

516

516

Other creditors

1,150

1,150

1,666

1,666

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

12,000

12,000

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100