Company registration number 12529441 (England and Wales)
JUNIORS ENTERPRISES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
JUNIORS ENTERPRISES LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
JUNIORS ENTERPRISES LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
50,368
67,157
Investments
4
4,230,737
4,254,479
4,281,105
4,321,636
Current assets
Cash at bank and in hand
1,158,972
245,026
Creditors: amounts falling due within one year
5
(5,921,670)
(4,708,037)
Net current liabilities
(4,762,698)
(4,463,011)
Net liabilities
(481,593)
(141,375)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(481,693)
(141,475)
Total equity
(481,593)
(141,375)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 5 February 2024
S Sullivan
Director
Company Registration No. 12529441
JUNIORS ENTERPRISES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 May 2021
100
138,890
138,990
Period ended 31 March 2022:
Loss and total comprehensive income for the period
-
(280,365)
(280,365)
Balance at 31 March 2022
100
(141,475)
(141,375)
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
(340,218)
(340,218)
Balance at 31 March 2023
100
(481,693)
(481,593)
JUNIORS ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Juniors Enterprises Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Stoney Down, 5 Ladyegate Road, Dorking, Surrey, RH5 4AS.

1.1
Reporting period

The company's reporting period is a full 12 month period, however the comparative period was a reduced 11 month period, having been reduced for commercial reasons. The comparative amounts presented in the financial statements (including the relevant notes) are therefore not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to the profit or loss as incurred.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

JUNIORS ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

JUNIORS ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
JUNIORS ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
102,335
Depreciation and impairment
At 1 April 2022
35,178
Depreciation charged in the year
16,789
At 31 March 2023
51,967
Carrying amount
At 31 March 2023
50,368
At 31 March 2022
67,157
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
4,230,737
4,254,479
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2022
4,254,479
Additions
1,456,834
Valuation changes
(351,781)
Loss on sale of investments
(50,886)
Disposals
(1,077,909)
At 31 March 2023
4,230,737
Carrying amount
At 31 March 2023
4,230,737
At 31 March 2022
4,254,479
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
5,921,670
4,708,037
JUNIORS ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
98
98
98
98
A Ordinary shares of £1 each
1
1
1
1
B Ordinary shares of £1 each
1
1
1
1
100
100
100
100
2023-03-312022-04-01false05 February 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityS Sullivan125294412022-04-012023-03-31125294412023-03-31125294412022-03-3112529441core:OtherPropertyPlantEquipment2023-03-3112529441core:OtherPropertyPlantEquipment2022-03-3112529441core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3112529441core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3112529441core:ShareCapital2023-03-3112529441core:ShareCapital2022-03-3112529441core:RetainedEarningsAccumulatedLosses2023-03-3112529441core:RetainedEarningsAccumulatedLosses2022-03-3112529441core:ShareCapital2021-04-3012529441core:RetainedEarningsAccumulatedLosses2021-04-3012529441core:ShareCapitalOrdinaryShares2023-03-3112529441core:ShareCapitalOrdinaryShares2022-03-3112529441bus:Director12022-04-012023-03-3112529441core:RetainedEarningsAccumulatedLosses2021-05-012022-03-31125294412021-05-012022-03-3112529441core:RetainedEarningsAccumulatedLosses2022-04-012023-03-3112529441core:MotorVehicles2022-04-012023-03-3112529441core:OtherPropertyPlantEquipment2022-03-3112529441core:OtherPropertyPlantEquipment2022-04-012023-03-3112529441core:CurrentFinancialInstruments2023-03-3112529441core:CurrentFinancialInstruments2022-03-3112529441bus:PrivateLimitedCompanyLtd2022-04-012023-03-3112529441bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3112529441bus:FRS1022022-04-012023-03-3112529441bus:AuditExemptWithAccountantsReport2022-04-012023-03-3112529441bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP