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Registration number: NI651613

JACQNI Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

JACQNI Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

JACQNI Ltd

Company Information

Director

Mrs Jackie Crooks

Registered office

5 Lower Catherine Street
Newry
Co Down
BT35 6BE

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

JACQNI Ltd

(Registration number: NI651613)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,350

2,686

Current assets

 

Debtors

5

45,722

51,390

Cash at bank and in hand

 

1,166

1,595

 

46,888

52,985

Creditors: Amounts falling due within one year

6

(5,111)

(4,564)

Net current assets

 

41,777

48,421

Total assets less current liabilities

 

44,127

51,107

Creditors: Amounts falling due after more than one year

6

(25,972)

(29,700)

Provisions for liabilities

(446)

(767)

Net assets

 

17,709

20,640

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

17,708

20,639

Shareholders' funds

 

17,709

20,640

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 November 2023
 

.........................................
Mrs Jackie Crooks
Director

   
     
 

JACQNI Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

These financial statements were authorised for issue by the director on 15 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

JACQNI Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

12.5% Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

JACQNI Ltd

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the director) during the year, was 0 (2022 - 1).

 

JACQNI Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

4,165

4,165

At 31 March 2023

4,165

4,165

Depreciation

At 1 April 2022

1,479

1,479

Charge for the year

336

336

At 31 March 2023

1,815

1,815

Carrying amount

At 31 March 2023

2,350

2,350

At 31 March 2022

2,686

2,686

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

10

1,141

6,141

Other debtors

 

44,581

45,249

   

45,722

51,390

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

3,667

3,300

Trade creditors

 

180

-

Taxation and social security

 

64

64

Accruals and deferred income

 

1,200

1,200

 

5,111

4,564

Creditors: amounts falling due after more than one year

 

JACQNI Ltd

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

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

25,972

29,700

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

25,972

29,700

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,667

3,300

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £Nil per each Ordinary Share

 

-

 

-

         

10

Related party transactions

 

JACQNI Ltd

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

Transactions with the director

2023

At 1 April 2022
£

At 31 March 2023
£

Mrs Jackie Crooks

Directors loan payable on demand

44,692

44,692

     
   

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mrs Jackie Crooks

Directors loan payable on demand

36,080

23,584

(14,972)

44,692

         
       

 

 

JACQNI Ltd

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

Dividends paid to the director

   

2023
£

 

2022
£

Mrs Jackie Crooks

       

Dividends

 

-

 

-

         

Summary of transactions with other related parties

Kinsetsu Limited
 At the year ended 31st March 2023, there was an outstanding loan balance of £1,141 (2022 - £6,141) owed to JACQNI Ltd from related party Kinsetsu Ltd