Company Registration No. 10790140 (England and Wales)
Jadala Limited
Unaudited accounts
for the year ended 31 May 2023
Jadala Limited
Unaudited accounts
Contents
Jadala Limited
Company Information
for the year ended 31 May 2023
Directors
T Munthe
James Paul Neeley
Company Number
10790140 (England and Wales)
Registered Office
SOMERSET HOUSE EXCHANGE SOMERSET HOUSE
STRAND
LONDON
London
WC2R 1LA
ENGLAND
Accountants
Adams O'Rourke Accountants Ltd
436 Woolton Road
Liverpool
L25 6JQ
Jadala Limited
Statement of financial position
as at 31 May 2023
Intangible assets
2,281
3,828
Cash at bank and in hand
34,682
113,292
Creditors: amounts falling due within one year
(55,630)
(62,433)
Net current (liabilities)/assets
(19,623)
53,542
Total assets less current liabilities
(17,333)
58,013
Creditors: amounts falling due after more than one year
(569,336)
(567,331)
Provisions for liabilities
Net liabilities
(586,670)
(509,440)
Called up share capital
119
119
Profit and loss account
(586,789)
(509,559)
Shareholders' funds
(586,670)
(509,440)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by
James Paul Neeley
Director
Company Registration No. 10790140
Jadala Limited
Notes to the Accounts
for the year ended 31 May 2023
Jadala Limited is a private company, limited by shares, registered in England and Wales, registration number 10790140. The registered office is SOMERSET HOUSE EXCHANGE SOMERSET HOUSE, STRAND, LONDON, London, WC2R 1LA, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The board are confident it has adequate resources to continue in operational existence for at
least twelve months from the balance sheet date. Thus the directors adopt the going concern basis of accounting in preparing these financial statements.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Jadala Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
125
2,140
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
(752)
2,756
Loans from directors
55,960
55,937
Jadala Limited
Notes to the Accounts
for the year ended 31 May 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Amounts owed to group undertakings and other participating interests
569,336
567,331
Allotted, called up and fully paid:
119 Ordinary shares of £1 each
119
119
10
Transactions with related parties
Balance of the directors loan account as at the year end is £55,960. This loan is provided to the company by director T Munthe. It is provided interest free and repayable on demand.
Wholly owned subsidiary of Jadala Corp. Registration Number FC036909. Address 251 Little Falls Drive, City Of Wilmington, County Of New Castle, Delaware 19808, United States
12
Average number of employees
During the year the average number of employees was 2 (2022: 2).