Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28truefalse12022-02-17The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalse 13923111 2022-02-16 13923111 2022-02-17 2023-02-28 13923111 2021-02-17 2022-02-16 13923111 2023-02-28 13923111 c:Director1 2022-02-17 2023-02-28 13923111 d:PlantMachinery 2022-02-17 2023-02-28 13923111 d:PlantMachinery 2023-02-28 13923111 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-17 2023-02-28 13923111 d:CurrentFinancialInstruments 2023-02-28 13923111 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13923111 d:ShareCapital 2023-02-28 13923111 d:RetainedEarningsAccumulatedLosses 2023-02-28 13923111 c:OrdinaryShareClass1 2022-02-17 2023-02-28 13923111 c:OrdinaryShareClass1 2023-02-28 13923111 c:FRS102 2022-02-17 2023-02-28 13923111 c:AuditExempt-NoAccountantsReport 2022-02-17 2023-02-28 13923111 c:FullAccounts 2022-02-17 2023-02-28 13923111 c:PrivateLimitedCompanyLtd 2022-02-17 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13923111









JIGSAW COMMERCE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2023

 
JIGSAW COMMERCE LIMITED
REGISTERED NUMBER: 13923111

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
2,000

  
2,000

Current assets
  

Stocks
 5 
37,158

Debtors: amounts falling due within one year
 6 
26,301

Cash at bank and in hand
  
126,657

  
190,116

Creditors: amounts falling due within one year
 7 
(224,743)

Net current (liabilities)/assets
  
 
 
(34,627)

Total assets less current liabilities
  
(32,627)

  

Net (liabilities)/assets
  
(32,627)


Capital and reserves
  

Called up share capital 
 8 
1

Profit and loss account
  
(32,628)

  
(32,627)


Page 1

 
JIGSAW COMMERCE LIMITED
REGISTERED NUMBER: 13923111
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 February 2024.




N Nathwani
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
JIGSAW COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 13923111. The Company's registered office is 21 Wainwright Street, Aston, Birmingham, England, B6 5TH.
The company was incorporated on 17 February 2022 and these accounts cover the period from incorporation to 28 February 2023.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
JIGSAW COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
JIGSAW COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Page 5

 
JIGSAW COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


        2023
            No.






Employees
1

Page 6

 
JIGSAW COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


Additions
2,500



At 28 February 2023

2,500



Depreciation


Charge for the period on owned assets
500



At 28 February 2023

500



Net book value



At 28 February 2023
2,000


5.


Stocks

2023
£

Finished goods and goods for resale
37,158

37,158



6.


Debtors

2023
£


Trade debtors
14,494

Other debtors
1,876

Prepayments and accrued income
9,931

26,301


Page 7

 
JIGSAW COMMERCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

7.


Creditors: Amounts falling due within one year

2023
£

Other creditors
223,059

Accruals and deferred income
1,684

224,743



8.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


1 Ordinary share of £1.00 was allotted on incorporation at par value.


9.Other financial commitments

As at 28 February 2023 the company had total commitments of £458,333.


10.


Related party transactions

During the period the company received a loan from the director of £76,919.  As at the balance sheet date £76,619 was outstanding and due to the director. The loan is interest free and repayable on demand.

 
Page 8