REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Jayan Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Jayan Limited |
Jayan Limited (Registered number: 10406206) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Jayan Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Rectory |
Springhead Road |
Northfleet |
Kent |
DA11 8HN |
Jayan Limited (Registered number: 10406206) |
Abridged Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Jayan Limited (Registered number: 10406206) |
Abridged Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Jayan Limited (Registered number: 10406206) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Jayan Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Income comprises the fair value of the consideration received for the rendering of services in the ordinary course of the company's activities. Income is presented, net of value-added tax, rebates and discounts. |
Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year. |
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 when specific criteria have been met for each of the company's activities as follows: |
Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to receive payment is established. |
Dividend income is recognised when the right to receive payment is established. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Jayan Limited (Registered number: 10406206) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 | 168,791 |
DEPRECIATION |
At 1 April 2022 | 76,088 |
Charge for year | 23,175 |
At 31 March 2023 | 99,263 |
NET BOOK VALUE |
At 31 March 2023 | 69,528 |
At 31 March 2022 | 92,703 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.3.23 | 31.3.22 |
£ | £ |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Jayan Limited (Registered number: 10406206) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
8. | RELATED PARTY DISCLOSURES |
During the period the company repaid £541,153 of a loan from a director. At the end of the period the amount owed to the director was £19,058 (2022: £560,211). The loan is included within creditors due within one year, is made free of interest and is repayable on demand. |
During the period the company borrowed £2,590 from VNM Estates and Lettings Ltd. At the end of the period the company owed £52,590 (2022: £50,000) to VNM Estates and Lettings Ltd, which is a group company. The loan is included within creditors due within one year, is free of interest and is repayable on demand. |
During the period the company borrowed £880,000 from Jayan Property Ltd. Jayan Property Ltd is under the control of the directors of the company. At the end of the period the amount owed to Jayan Property Ltd was £880,000 (2022: £0). The loan is included within creditors due within one year, is free of interest and is repayable on demand. |
During the period the company borrowed £5,600 from VNM Properties Ltd. VNM Properties Ltd has common directors with the company. At the end of the period the amount owed to VNM Properties Ltd was £5,600 (2022: £0). The loan is included within creditors due within one year, is free of interest and is repayable on demand. |
During the period the company received £3,400 of a loan due from VNM Investments Ltd, which is a subsidiary of the company. At the end of the period the amount owed to the company was £332 (2022: £3,732.. The loan is included within debtors due within one year, is free of interest and is repayable on demand. |
9. | COVID-19 BUSINESS SUPPORT |
The company received £0 (2022: £208) of grants covering a portion of the interest due on the Bounce Back loan.. No conditions or other contingencies have been applied to the grant. |
10. | GOING CONCERN |
The accounts have been prepared on a going concern basis despite the company having negative reserves at the end of the period. The directors have confirmed they do not intend for the company to repay the outstanding related party loans until the situation has resolved itself, and consider that the company will continue to trade for at least twelve months after the date the accounts were approved. |