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REGISTERED NUMBER: 02793219 (England and Wales)















JIG U.K. LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






JIG U.K. LTD (REGISTERED NUMBER: 02793219)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


JIG U.K. LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: B E Athey
G I Bretherton
A Mackinder





SECRETARY: Ms J Cutler





REGISTERED OFFICE: Hurlingham Business Park
Fulbeck Heath
Grantham
Lincolnshire
NG32 3HL





REGISTERED NUMBER: 02793219 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

JIG U.K. LTD (REGISTERED NUMBER: 02793219)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 281,367 230,094

CURRENT ASSETS
Stocks 1,927,818 2,100,553
Debtors 5 1,295,337 1,639,379
Cash at bank and in hand 612,114 499,745
3,835,269 4,239,677
CREDITORS
Amounts falling due within one year 6 1,000,194 1,467,511
NET CURRENT ASSETS 2,835,075 2,772,166
TOTAL ASSETS LESS CURRENT LIABILITIES 3,116,442 3,002,260

PROVISIONS FOR LIABILITIES 58,435 34,051
NET ASSETS 3,058,007 2,968,209

CAPITAL AND RESERVES
Called up share capital 9 1,000,000 1,000,000
Retained earnings 2,058,007 1,968,209
SHAREHOLDERS' FUNDS 3,058,007 2,968,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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

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 17 January 2024 and were signed on its behalf by:





B E Athey - Director


JIG U.K. LTD (REGISTERED NUMBER: 02793219)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

JIG U.K. LTD 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 and other income
Sale of goods

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Interest receivable

Interest income is recognised using the effective interest method.

Rental income

Rental income is included as the company's right to receive payment is established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 20% on cost and 10% on cost

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.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


JIG U.K. LTD (REGISTERED NUMBER: 02793219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 1,582,241
Additions 139,985
Disposals (6,251 )
At 31 May 2023 1,715,975
DEPRECIATION
At 1 June 2022 1,352,147
Charge for year 88,712
Eliminated on disposal (6,251 )
At 31 May 2023 1,434,608
NET BOOK VALUE
At 31 May 2023 281,367
At 31 May 2022 230,094

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 942,352 1,282,399
Other debtors 352,985 356,980
1,295,337 1,639,379

JIG U.K. LTD (REGISTERED NUMBER: 02793219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 595,387 875,146
Taxation and social security 149,106 272,578
Other creditors 255,701 319,787
1,000,194 1,467,511

7. LEASING AGREEMENTS

Total financial commitments, guarantees and contingencies which are not included in the statement of financial position amount to £280,000 (2022: £315,000)

8. SECURED DEBTS

There are charges dated February 2011 and May 2012 held by NatWest Bank PLC over all monies due or becoming due on any account held by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000,000 Ordinary £1 1,000,000 1,000,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the beginning of the year the directors loan account was overdrawn by £12,183 (2022: £10,305 in credit). During the year the director was charged interest of £345 (2022: borrowed £22,488) and repaid £6,049 (2022: £nil), leaving an overdrawn balance of £6,479 at the year end (2022: £12,183).