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REGISTERED NUMBER: 05968495 (England and Wales)














Jackson Financial Services Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Jackson Financial Services Ltd (Registered number: 05968495)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Jackson Financial Services Ltd

Company Information
for the Year Ended 31 October 2023







Directors: Mr J S Jackson
Mrs A T Jackson
Mr D P McDonald





Secretary: Mr J S Jackson





Registered office: 35B West Street
Bourne
PE10 9NB





Registered number: 05968495 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Jackson Financial Services Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jackson Financial Services Ltd for the year ended 31 October 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jackson Financial Services Ltd, as a body, in accordance with the terms of our engagement letter dated 8 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Jackson Financial Services Ltd and state those matters that we have agreed to state to the Board of Directors of Jackson Financial Services Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jackson Financial Services Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jackson Financial Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jackson Financial Services Ltd. You consider that Jackson Financial Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jackson Financial Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


8 February 2024

Jackson Financial Services Ltd (Registered number: 05968495)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 5 70,407 72,876
Tangible assets 6 45,725 53,838
Investments 7 - 34,564
116,132 161,278

Current assets
Debtors 8 14,627 17,377
Cash at bank 16,670 2,723
31,297 20,100
Creditors
Amounts falling due within one year 9 39,688 58,709
Net current liabilities (8,391 ) (38,609 )
Total assets less current liabilities 107,741 122,669

Creditors
Amounts falling due after more than one
year

10

-

(24,728

)

Provisions for liabilities (739 ) (749 )
Net assets 107,002 97,192

Capital and reserves
Called up share capital 11 150 150
Share premium 69,950 69,950
Fair value reserve 12 - 1,781
Retained earnings 36,902 25,311
Shareholders' funds 107,002 97,192

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

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

Jackson Financial Services Ltd (Registered number: 05968495)

Statement of Financial Position - continued
31 October 2023


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:




Mr J S Jackson - Director Mrs A T Jackson - Director




Mr D P McDonald - Director


Jackson Financial Services Ltd (Registered number: 05968495)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. Statutory information

Jackson Financial Services 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of thirty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer equipment-33% straight line
Office equipment-25% reducing balance
Leasehold property-10% straight line

Jackson Financial Services Ltd (Registered number: 05968495)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. Accounting policies - continued

Financial instruments
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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

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.

4. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

Jackson Financial Services Ltd (Registered number: 05968495)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


5. Intangible fixed assets
Goodwill
£   
Cost
At 1 November 2022
and 31 October 2023 74,065
Amortisation
At 1 November 2022 1,189
Charge for year 2,469
At 31 October 2023 3,658
Net book value
At 31 October 2023 70,407
At 31 October 2022 72,876

6. Tangible fixed assets
Leasehold
property Equipment Totals
£    £    £   
Cost
At 1 November 2022
and 31 October 2023 71,281 12,119 83,400
Depreciation
At 1 November 2022 21,384 8,178 29,562
Charge for year 7,128 985 8,113
At 31 October 2023 28,512 9,163 37,675
Net book value
At 31 October 2023 42,769 2,956 45,725
At 31 October 2022 49,897 3,941 53,838

7. Fixed asset investments
Other
loans
£   
At 1 November 2022 34,564
Repayment in year (34,564 )
At 31 October 2023 -

8. Debtors
2023 2022
£    £   
Amounts falling due within one year:
Tax 14,627 5,209
Prepayments and accrued income - 2,750
14,627 7,959

Jackson Financial Services Ltd (Registered number: 05968495)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


8. Debtors - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Tax - 9,418

Aggregate amounts 14,627 17,377

9. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts - 9,324
Trade creditors 1,374 4,529
Corporation tax 31,396 24,415
Social security and other taxes 15 -
Directors' current accounts 2,269 16,248
Accruals and deferred income 4,634 4,193
39,688 58,709

10. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 1-2 years - 9,470
Bank loans 2-5 years - 15,258
- 24,728

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100
50 Ordinary A shares £1 50 50
150 150

12. Reserves
Fair
value
reserve
£   
At 1 November 2022 1,781
Fair value adjustment (1,781 )

At 31 October 2023 -