Registration number:
Jake Warren Limited
for the Year Ended 31 December 2022
Jake Warren Limited
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Jake Warren Limited
(Registration number: 08796822)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
- |
|
|
Other financial assets |
- |
32,324 |
|
- |
|
||
Current assets |
|||
Stocks |
- |
|
|
Debtors |
|
|
|
Cash at bank and in hand |
- |
|
|
|
|
||
Creditors: Amounts falling due within one year |
- |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
722,547 |
722,547 |
|
Shareholders' funds |
722,647 |
722,647 |
Jake Warren Limited
(Registration number: 08796822)
Balance Sheet as at 31 December 2022
For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his 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
......................................... |
Jake Warren Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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.
Summary of disclosure exemptions
The company has taken advantage of exemptions conferred by Financial Reporting Standard 102 - Related Party Disclosures not to disclose transactions between wholly owned members of the same group.
Jake Warren Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Going concern
The company transferred all of its trade and assets to its parent company, Highclere Stud Ltd, in January 2022. The company is therefore expected to remain dormant for the foreseeable future.
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.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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 |
Plant and machinery |
25% 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.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Bloodstock is stated at the lower of cost and net realisable value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Jake Warren Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Jake Warren Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Other operating income |
2022 |
2021 |
||
£ |
£ |
||
Government grants |
- |
1,600 |
|
- |
1,600 |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Plant and machinery |
Office equipment |
Total |
|
Cost or valuation |
|||
At 1 January 2022 |
|
|
|
Disposals |
( |
( |
( |
At 31 December 2022 |
- |
- |
- |
Depreciation |
|||
At 1 January 2022 |
|
|
|
Eliminated on disposal |
( |
( |
( |
At 31 December 2022 |
- |
- |
- |
Carrying amount |
|||
At 31 December 2022 |
- |
- |
- |
At 31 December 2021 |
|
|
|
Jake Warren Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 January 2022 |
32,324 |
32,324 |
Additions |
1,744 |
1,744 |
Disposals |
(34,068) |
(34,068) |
At 31 December 2022 |
- |
- |
Impairment |
||
Carrying amount |
||
At 31 December 2022 |
- |
- |
Stocks |
2022 |
2021 |
|
Other inventories |
- |
|
Debtors |
Current |
2022 |
2021 |
Trade debtors |
- |
|
Prepayments |
- |
|
Other debtors |
|
|
|
|
Jake Warren Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
|
Due within one year |
||
Trade creditors |
- |
|
Taxation and social security |
- |
|
Other creditors |
- |
|
- |
|
Related party transactions |
Transactions with the director |
2022 |
At 1 January 2022 |
Advances to director |
Repayments by director |
At 31 December 2022 |
Mr J J Warren |
||||
Directors loan account |
|
|
( |
- |
2021 |
At 1 January 2021 |
Advances to director |
Repayments by director |
At 31 December 2021 |
Mr J J Warren |
||||
Directors loan account |
|
|
( |
|
Other transactions with the director |
Mr J J Warren (director) had a loan account with the company on which interest was charged at the HMRC official rate. At the balance sheet date the amount due from Mr J J Warren was £nil (2021: £81,557).
Parent and ultimate parent undertaking |
The company's immediate parent is