Jake Warren Limited 08796822 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is activities of racehorse owners. The company ceased trading in January 2022. Digita Accounts Production Advanced 6.30.9574.0 true false true 08796822 2022-01-01 2022-12-31 08796822 2022-12-31 08796822 bus:Director1 1 2022-12-31 08796822 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2022-12-31 08796822 core:CurrentFinancialInstruments 2022-12-31 08796822 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08796822 core:OfficeEquipment 2022-12-31 08796822 core:PlantMachinery 2022-12-31 08796822 bus:SmallEntities 2022-01-01 2022-12-31 08796822 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 08796822 bus:FullAccounts 2022-01-01 2022-12-31 08796822 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 08796822 bus:RegisteredOffice 2022-01-01 2022-12-31 08796822 bus:Director1 2022-01-01 2022-12-31 08796822 bus:Director1 1 2022-01-01 2022-12-31 08796822 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08796822 core:OfficeEquipment 2022-01-01 2022-12-31 08796822 core:PlantMachinery 2022-01-01 2022-12-31 08796822 core:VehiclesPlantMachinery 2022-01-01 2022-12-31 08796822 1 2022-01-01 2022-12-31 08796822 countries:EnglandWales 2022-01-01 2022-12-31 08796822 2021-12-31 08796822 bus:Director1 1 2021-12-31 08796822 core:OfficeEquipment 2021-12-31 08796822 core:PlantMachinery 2021-12-31 08796822 2021-01-01 2021-12-31 08796822 2021-12-31 08796822 bus:Director1 1 2021-12-31 08796822 core:CurrentFinancialInstruments 2021-12-31 08796822 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 08796822 core:OfficeEquipment 2021-12-31 08796822 core:PlantMachinery 2021-12-31 08796822 bus:Director1 1 2021-01-01 2021-12-31 08796822 bus:Director1 1 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 08796822

Jake Warren Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Jake Warren Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Jake Warren Limited

(Registration number: 08796822)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

-

2,574

Other financial assets

6

-

32,324

 

-

34,898

Current assets

 

Stocks

7

-

124,645

Debtors

8

722,647

253,317

Cash at bank and in hand

 

-

492,468

 

722,647

870,430

Creditors: Amounts falling due within one year

9

-

(182,681)

Net current assets

 

722,647

687,749

Net assets

 

722,647

722,647

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 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 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 director on 16 October 2023
 

.........................................
Mr J J Warren
Director

 

Jake Warren Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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

3

Other operating income

2022

2021

£

£

Government grants

-

1,600

-

1,600

4

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 3).

5

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2022

5,421

1,359

6,780

Disposals

(5,421)

(1,359)

(6,780)

At 31 December 2022

-

-

-

Depreciation

At 1 January 2022

3,832

374

4,206

Eliminated on disposal

(3,832)

(374)

(4,206)

At 31 December 2022

-

-

-

Carrying amount

At 31 December 2022

-

-

-

At 31 December 2021

1,589

985

2,574

 

Jake Warren Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

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

-

-

7

Stocks

2022
£

2021
£

Other inventories

-

124,645

8

Debtors

Current

2022
£

2021
£

Trade debtors

-

40,016

Prepayments

-

1,344

Other debtors

722,647

211,957

 

722,647

253,317

 

Jake Warren Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

9

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

-

30,162

Taxation and social security

-

141,557

Other creditors

-

10,962

-

182,681

10

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

81,557

2,673

(84,230)

-

         
       

 

2021

At 1 January 2021
£

Advances to director
£

Repayments by director
£

At 31 December 2021
£

Mr J J Warren

Directors loan account

218,122

15,530

(152,095)

81,557

         
       

 

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).

11

Parent and ultimate parent undertaking

The company's immediate parent is Highclere Stud Limited, incorporated in England and Wales.