Registered number
10564997
JEAN PATRIQUE COOKWARE LIMITED
Unaudited Filleted Accounts
31 July 2023
JEAN PATRIQUE COOKWARE LIMITED
Registered number: 10564997
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 - 3,716
Current assets
Stocks 17,227 37,697
Debtors 5 872,083 889,594
Cash at bank and in hand 64,411 48,085
953,721 975,376
Creditors: amounts falling due within one year 6 (3,377,001) (3,663,480)
Net current liabilities (2,423,280) (2,688,104)
Total assets less current liabilities (2,423,280) (2,684,388)
Creditors: amounts falling due after more than one year 7 (18,333) (28,333)
Net liabilities (2,441,613) (2,712,721)
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,441,713) (2,712,821)
Shareholders' funds (2,441,613) (2,712,721)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Kent
Director
Approved by the board on 19 February 2024
JEAN PATRIQUE COOKWARE LIMITED
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 8,149
At 31 July 2023 8,149
Amortisation
At 1 August 2022 8,149
At 31 July 2023 8,149
Net book value
At 31 July 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 11,505
At 31 July 2023 11,505
Depreciation
At 1 August 2022 7,789
Charge for the year 3,716
At 31 July 2023 11,505
Net book value
At 31 July 2023 -
At 31 July 2022 3,716
5 Debtors 2023 2022
£ £
Trade debtors 164,631 90,994
Other debtors 707,452 798,600
872,083 889,594
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 119,054 169,923
Trade creditors 3,119,316 3,338,122
Amounts owed to group undertakings and undertakings in which the company has a participating interest 100,000 100,000
Taxation and social security costs 37,631 7,603
Other creditors 1,000 47,832
3,377,001 3,663,480
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,333 28,333
8 Related party transactions
During the year under review Management Fees of £25,500 (2022: £nil) were charged by Direct Response Management Group Ltd, a company in which N Kent is also a director.
9 Controlling party
During the year under review M Malinsky was the ultimate controlling party by virtue of his holding of 66% of the issued share capital of the company. On 15 September 2023 the shares held by M Malinsky were transferred to Direct Trade Link Ltd, a company registered in Cyprus.
10 Other information
JEAN PATRIQUE COOKWARE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
3 Gateway Mews
Ringway
Bounds Green
London
N11 2UT
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