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REGISTERED NUMBER: 05038543 (England and Wales)











Unaudited Financial Statements

for the Year Ended 28 February 2023

for

JEL 04 Limited

JEL 04 Limited (Registered number: 05038543)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


JEL 04 Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: L Norman
Ms J M E Green
Mrs E J Norman-Green
C R E Green
Mrs R Green





SECRETARY: Mrs E J Norman-Green





REGISTERED OFFICE: The Edgcumbe Hotel
19 Summerleaze Crescent
Bude
Cornwall
EX23 8HJ





REGISTERED NUMBER: 05038543 (England and Wales)





ACCOUNTANTS: Metherell Gard Ltd
Chartered Accountants
Burn View
Bude
Cornwall
EX23 8BX

JEL 04 Limited (Registered number: 05038543)

Abridged Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 80,980 72,941

CURRENT ASSETS
Stocks 3,500 4,620
Debtors 1,000 5,033
Cash at bank and in hand 5,408 75,792
9,908 85,445
CREDITORS
Amounts falling due within one year 78,592 67,558
NET CURRENT (LIABILITIES)/ASSETS (68,684 ) 17,887
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,296

90,828

CREDITORS
Amounts falling due after more than one
year

(23,172

)

(36,543

)

PROVISIONS FOR LIABILITIES (14,300 ) (12,700 )
NET (LIABILITIES)/ASSETS (25,176 ) 41,585

CAPITAL AND RESERVES
Called up share capital 250 250
Retained earnings (25,426 ) 41,335
SHAREHOLDERS' FUNDS (25,176 ) 41,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

JEL 04 Limited (Registered number: 05038543)

Abridged Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





L Norman - Director


JEL 04 Limited (Registered number: 05038543)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

JEL 04 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods
Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership. It is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Rendering of services
Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings - 10% on cost
Plant and machinery etc - 20% on cost and 10% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

JEL 04 Limited (Registered number: 05038543)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
At the period end the company's liabilities were in excess of its assets. This has mainly been funded by a loan from the directors and a bank loan. The directors have confirmed their continuing support of the company and consider that the accounts should be prepared on the going concern basis.

Financial instruments
All financial instruments are recognised initially at transaction price excluding transaction costs and subsequently at amortised cost. These include cash at bank, trade and other debtors and trade and other creditors.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowing
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 110,413
Additions 18,824
At 28 February 2023 129,237
DEPRECIATION
At 1 March 2022 37,472
Charge for year 10,785
At 28 February 2023 48,257
NET BOOK VALUE
At 28 February 2023 80,980
At 28 February 2022 72,941

JEL 04 Limited (Registered number: 05038543)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


5. TRANSITION TO FRS102 1A

As detailed in note 2, these accounts have been prepared in accordance with Financial Reporting Standard 102 including the provisions of Section 1A (FRS 102 1A). Last year the accounts were prepared in accordance with Financial Reporting Standard 105 (FRS 105). Adjustments have been made upon the transition from FRS 105 to FRS102 1A. The only adjustments to make were in relation to deferred tax. The deferred tax balance at the start of the previous accounting period has been adjusted from £nil to £11,900. The movement in the deferred tax provision for the previous accounting period has been adjusted from £nil to £800.