IRIS Accounts Production v24.1.0.578 07252554 Board of Directors 31.7.22 30.7.23 30.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh072525542022-07-30072525542023-07-30072525542022-07-312023-07-30072525542021-07-31072525542021-08-012022-07-30072525542022-07-3007252554ns15:EnglandWales2022-07-312023-07-3007252554ns14:PoundSterling2022-07-312023-07-3007252554ns10:Director12022-07-312023-07-3007252554ns10:PrivateLimitedCompanyLtd2022-07-312023-07-3007252554ns10:SmallEntities2022-07-312023-07-3007252554ns10:AuditExempt-NoAccountantsReport2022-07-312023-07-3007252554ns10:SmallCompaniesRegimeForDirectorsReport2022-07-312023-07-3007252554ns10:SmallCompaniesRegimeForAccounts2022-07-312023-07-3007252554ns10:AbridgedAccounts2022-07-312023-07-3007252554ns10:Director22022-07-312023-07-3007252554ns10:RegisteredOffice2022-07-312023-07-3007252554ns5:CurrentFinancialInstruments2023-07-3007252554ns5:CurrentFinancialInstruments2022-07-3007252554ns5:ShareCapital2023-07-3007252554ns5:ShareCapital2022-07-3007252554ns5:RetainedEarningsAccumulatedLosses2023-07-3007252554ns5:RetainedEarningsAccumulatedLosses2022-07-3007252554ns5:LandBuildings2022-07-312023-07-3007252554ns5:PlantMachinery2022-07-312023-07-3007252554ns5:MoreThanFiveYears2023-07-3007252554ns5:MoreThanFiveYears2022-07-30072525541ns10:Director12022-07-30072525541ns10:Director12021-07-31072525541ns10:Director12022-07-312023-07-30072525541ns10:Director12021-08-012022-07-30072525541ns10:Director12023-07-30072525541ns10:Director12022-07-3007252554ns10:Director222022-07-3007252554ns10:Director222021-07-3107252554ns10:Director222022-07-312023-07-3007252554ns10:Director222021-08-012022-07-3007252554ns10:Director222023-07-3007252554ns10:Director222022-07-30
REGISTERED NUMBER: 07252554 (England and Wales)















Financial Statements for the Year Ended 30 July 2023

for

JSK Fashions Limited

JSK Fashions Limited (Registered number: 07252554)






Contents of the Financial Statements
for the Year Ended 30 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


JSK Fashions Limited

Company Information
for the Year Ended 30 July 2023







DIRECTORS: Mr R Soni
Mrs P Soni-Jairath





REGISTERED OFFICE: Unit 3 Derby House
59 Derby Street
Manchester
M8 8HW





REGISTERED NUMBER: 07252554 (England and Wales)





ACCOUNTANTS: Ashworth Treasure Limited
Chartered Accountants
17-19 Park Street
Lytham
Lancashire
FY8 5LU

JSK Fashions Limited (Registered number: 07252554)

Abridged Balance Sheet
30 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 76,564 80,971

CURRENT ASSETS
Stocks 463,734 395,133
Debtors 2,833,238 2,256,507
Cash at bank and in hand 101,624 1,380,974
3,398,596 4,032,614
CREDITORS
Amounts falling due within one year 1,888,578 2,249,498
NET CURRENT ASSETS 1,510,018 1,783,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,586,582

1,864,087

PROVISIONS FOR LIABILITIES 12,613 15,312
NET ASSETS 1,573,969 1,848,775

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,573,869 1,848,675
SHAREHOLDERS' FUNDS 1,573,969 1,848,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 April 2024 and were signed on its behalf by:





Mr R Soni - Director


JSK Fashions Limited (Registered number: 07252554)

Notes to the Financial Statements
for the Year Ended 30 July 2023

1. STATUTORY INFORMATION

JSK Fashions Limited 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.

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 and are presented in sterling, which is the functional currency of the entity.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Derivative financial instruments
Derivative financial instruments are recognised at fair value based on quoted prices in active markets with any gains or losses being reported in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

JSK Fashions Limited (Registered number: 07252554)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 38 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 31 July 2022 155,106
Additions 34,763
At 30 July 2023 189,869
DEPRECIATION
At 31 July 2022 74,135
Charge for year 39,170
At 30 July 2023 113,305
NET BOOK VALUE
At 30 July 2023 76,564
At 30 July 2022 80,971

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
In more than five years - 19,500

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 July 2023 and the period ended 30 July 2022:

2023 2022
£    £   
Mr R Soni
Balance outstanding at start of year 162,983 -
Amounts advanced 81,182 162,983
Amounts repaid (163,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,165 162,983

Mrs P Soni-Jairath
Balance outstanding at start of year 129,962 (10,073 )
Amounts advanced 99,469 140,035
Amounts repaid (163,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,431 129,962

Interest was charged at the official rate of interest where applicable.

JSK Fashions Limited (Registered number: 07252554)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

8. RELATED PARTY DISCLOSURES

Included in debtors are amounts owed by companies external to the group related by virtue of common control of £883,377 (2022:£8,629).
This loan is interest free.

During the year the company rented property from a company related by virtue of common control. The annual rental paid was £36,000 (2022:£36,000).