Registered number
07548169
Jari Lager Gallery Ltd
Filleted Accounts
for the year ended 31 March 2023
Jari Lager Gallery Ltd
Registered number: 07548169
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,919 9,899
Current assets
Debtors 4 129,679 13,123
Cash at bank and in hand 171,536 298,649
301,215 311,772
Creditors: amounts falling due within one year 5 (127,828) (126,820)
Net current assets 173,387 184,952
Total assets less current liabilities 181,306 194,851
Creditors: amounts falling due after more than one year 6 (40,705) (45,827)
Net assets 140,601 149,024
Capital and reserves
Called up share capital 100 100
Profit and loss account 140,501 148,924
Shareholder's funds 140,601 149,024
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Jari Juhani Lager
Director
Approved by the board on 21 November 2023
Jari Lager Gallery Ltd
Notes to the Accounts
for the year ended 31 March 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:
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Motor Vehicles 20% reducing balances
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 37,426 9,283 46,709
At 31 March 2023 37,426 9,283 46,709
Depreciation
At 1 April 2022 30,296 6,514 36,810
Charge for the year 1,426 554 1,980
At 31 March 2023 31,722 7,068 38,790
Net book value
At 31 March 2023 5,704 2,215 7,919
At 31 March 2022 7,130 2,769 9,899
4 Debtors 2023 2022
£ £
Trade debtors 112,679 5,227
Union London 17,000 14,000
Other debtors - (6,104)
129,679 13,123
5 Creditors: amounts falling due within one year 2023 2022
£ £
Nest Pension 56 44
Taxation and social security costs (48,101) (13,485)
Other creditors 175,873 140,261
127,828 126,820
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 40,705 45,827
7 Other information
Jari Lager Gallery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
94 Teesdale Street
London
E2 6PU
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