T Jacques Limited 04830964 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is providing building and carpentry services Digita Accounts Production Advanced 6.30.9574.0 true 04830964 2022-09-01 2023-08-31 04830964 2023-08-31 04830964 core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 04830964 core:CurrentFinancialInstruments 2023-08-31 04830964 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04830964 core:FurnitureFittingsToolsEquipment 2023-08-31 04830964 core:MotorVehicles 2023-08-31 04830964 bus:SmallEntities 2022-09-01 2023-08-31 04830964 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04830964 bus:FullAccounts 2022-09-01 2023-08-31 04830964 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04830964 bus:RegisteredOffice 2022-09-01 2023-08-31 04830964 bus:CompanySecretaryDirector1 2022-09-01 2023-08-31 04830964 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04830964 core:FurnitureFittings 2022-09-01 2023-08-31 04830964 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 04830964 core:MotorCars 2022-09-01 2023-08-31 04830964 core:MotorVehicles 2022-09-01 2023-08-31 04830964 countries:EnglandWales 2022-09-01 2023-08-31 04830964 2022-08-31 04830964 core:FurnitureFittingsToolsEquipment 2022-08-31 04830964 core:MotorVehicles 2022-08-31 04830964 2021-09-01 2022-08-31 04830964 2022-08-31 04830964 core:AcceleratedTaxDepreciationDeferredTax 2022-08-31 04830964 core:CurrentFinancialInstruments 2022-08-31 04830964 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04830964 core:FurnitureFittingsToolsEquipment 2022-08-31 04830964 core:MotorVehicles 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 04830964

Prepared for the registrar

T Jacques Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

T Jacques Limited

(Registration number: 04830964)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

541

890

Current assets

 

Stocks

500

500

Debtors

5

7,287

12,645

Cash at bank and in hand

 

36,014

52,930

 

43,801

66,075

Creditors: Amounts falling due within one year

6

(30,858)

(6,107)

Net current assets

 

12,943

59,968

Total assets less current liabilities

 

13,484

60,858

Deferred tax liabilities

8

(103)

(169)

Net assets

 

13,381

60,689

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

13,281

60,589

Shareholders' funds

 

13,381

60,689

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 February 2024 and signed on its behalf by:
 

N K Jacques
Company secretary and director

   
     
 

T Jacques Limited

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

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
96 Lamberts Field
Bourton on the Water
Gloucestershire
GL54 2EH

 

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements and estimation uncertainty

No significant judgements or key sources of estimation uncertainty have been made or identified by management in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the sale of goods and provision of services. Turnover is shown as the gross amount invoiced.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures fittings & equipment

15% of written down value per annum

Motor vehicles

25% of written down value per annum

 

T Jacques Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

T Jacques Limited

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

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 September 2022

3,769

13,410

17,179

At 31 August 2023

3,769

13,410

17,179

Depreciation

At 1 September 2022

3,223

13,066

16,289

Charge for the year

263

86

349

At 31 August 2023

3,486

13,152

16,638

Carrying amount

At 31 August 2023

283

258

541

At 31 August 2022

546

344

890

 

5

Debtors

Note

2023
 £

2022
 £

Trade debtors

 

-

809

Amounts owed by related parties

9

-

4,593

Other debtors

 

6,919

6,919

Prepayments

 

368

324

   

7,287

12,645

 

T Jacques Limited

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

 

6

Creditors

2023
 £

2022
 £

Due within one year

Loans and borrowings

25,320

-

Trade creditors

928

787

Accrued expenses

2,505

1,050

Corporation tax liability

2,105

4,270

30,858

6,107

 

7

Loans and borrowings

Note

2023
£

2022
£

Current loans and borrowings

Directors' loan account

9

25,320

-

 

8

Deferred tax

Deferred tax assets and liabilities

2023

Liability
£

Difference between accumulated depreciation and capital allowances

103

2022

Liability
£

Difference between accumulated depreciation and capital allowances

169

 

9

Related party transactions

Transactions with directors

At the year end, the amount owed to the director was £25,320 (2022: £4,593 owed by the director) in the form of a directors' loan account. The loan is interest free, repayable on demand and has no fixed repayment term.