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2022-08-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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09125055
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09125055
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2023-07-31
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
|
All of the members of Jessicas Sweets Hereford Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
09125055
JESSICAS SWEETS HEREFORD LIMITED |
|
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
|
JESSICAS SWEETS HEREFORD LIMITED |
|
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
JESSICAS SWEETS HEREFORD LIMITED |
|
YEAR ENDED 31 JULY 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Jessicas Sweets Hereford Limited for the year ended 31 July 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED
Accountants and Registered Auditors
Lifford Hall
Lifford Lane
Kings Norton
Birmingham
B30 3JN
12 April 2024
JESSICAS SWEETS HEREFORD LIMITED |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
|
31 July 2023
Fixed assets
Tangible assets |
5 |
|
6,239 |
|
7,243 |
|
|
|
|
|
|
Current assets
Stocks |
31,058 |
|
33,578 |
|
Debtors |
6,500 |
|
6,500 |
|
Cash at bank and in hand |
6,421 |
|
4,646 |
|
|
------------ |
|
------------ |
|
|
43,979 |
|
44,724 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
47,233 |
|
50,515 |
|
|
------------ |
|
------------ |
|
Net current liabilities |
|
3,254 |
|
5,791 |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
2,985 |
|
1,452 |
|
|
------------ |
|
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
|
100 |
Profit and loss account |
|
2,885 |
|
1,352 |
|
|
------------ |
|
------------ |
Shareholders funds |
|
2,985 |
|
1,452 |
|
|
------------ |
|
------------ |
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
JESSICAS SWEETS HEREFORD LIMITED |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
|
31 July 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
12 April 2024
, and are signed on behalf of the board by:
Company registration number:
09125055
JESSICAS SWEETS HEREFORD LIMITED |
|
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 JULY 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9-11 Eign Gate, Hereford, HR4 0AB.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of value added tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixture and fittings |
- |
15% reducing balance |
|
|
|
|
No depreciation is charged in the year of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2022:
7
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 August 2022 and 31 July 2023 |
21,069 |
|
------------ |
Depreciation |
|
At 1 August 2022 |
13,826 |
Charge for the year |
1,004 |
|
------------ |
At 31 July 2023 |
14,830 |
|
------------ |
Carrying amount |
|
At 31 July 2023 |
6,239 |
|
------------ |
At 31 July 2022 |
7,243 |
|
------------ |
|
|
6.
Director's advances, credits and guarantees
Amounts owed to the director at the balance sheet date are included in creditors and totalled £21,314. (2022: £35,139).