1 August 2022 v2023.31.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0falsetruexbrli:purexbrli:sharesiso4217:GBP120912132022-08-012023-07-31120912132023-07-31120912132022-07-3112091213core:WithinOneYear2023-07-3112091213core:WithinOneYear2022-07-3112091213core:ShareCapital2023-07-3112091213core:ShareCapital2022-07-3112091213core:RetainedEarningsAccumulatedLosses2023-07-3112091213core:RetainedEarningsAccumulatedLosses2022-07-3112091213bus:Director12022-08-012023-07-3112091213bus:RegisteredOffice2022-08-012023-07-3112091213core:PlantMachinery2022-08-012023-07-3112091213core:PlantMachinery2022-08-0112091213core:PlantMachinery2023-07-3112091213core:PlantMachinery2022-07-311209121312022-08-012023-07-31120912132021-08-012022-07-3112091213countries:EnglandWales2022-08-012023-07-3112091213bus:AuditExemptWithAccountantsReport2022-08-012023-07-3112091213bus:PrivateLimitedCompanyLtd2022-08-012023-07-3112091213bus:SmallEntities2022-08-012023-07-3112091213bus:FullAccounts2022-08-012023-07-31
Company registration number:
12091213
Jacob Kirk Visualisation Ltd
Unaudited Filleted Financial Statements for the year ended
31 July 2023
Jacob Kirk Visualisation Ltd
Statement of Financial Position
31 July 2023
20232022
Note££
Fixed assets    
Tangible assets 5
2,115
 
1,591
 
Current assets    
Debtors 6
6,900
 
10,750
 
Cash at bank and in hand
15,022
 
9,704
 
21,922
 
20,454
 
Creditors: amounts falling due within one year 7
(11,226
)
(8,887
)
Net current assets
10,696
 
11,567
 
Total assets less current liabilities 12,811   13,158  
Provisions for liabilities
(469
)
(395
)
Net assets
12,342
 
12,763
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
12,341
 
12,762
 
Shareholders funds
12,342
 
12,763
 
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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
13 November 2023
, and are signed on behalf of the board by:
Mr Jacob Kirk
Director
Company registration number:
12091213
Jacob Kirk Visualisation Ltd
Notes to the Financial Statements
Year ended
31 July 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Old Birchenlee House
,
Birchenlee Lane
,
Colne
,
Lancashire
,
BB8 8HL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

Turnover

Turnover is the value of services provided to customers during the year.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent it relates to items recognised in other comprehensive income or directly in equity. Current tax and deferred tax are recognised at the amount payable using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and accumulated impairment losses.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital reserves of that asset, the excess shall be recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% straight line If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2022: nil).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 August 2022
1,625
 
Additions
1,039
 
At
31 July 2023
2,664
 
Depreciation  
At
1 August 2022
34
 
Charge
515
 
At
31 July 2023
549
 
Carrying amount  
At
31 July 2023
2,115
 
At 31 July 2022
1,591
 

6 Debtors

20232022
££
Trade debtors
6,900
 
10,750
 

7 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
10,926
 
8,637
 
Other creditors
300
 
250
 
11,226
 
8,887
 

8 Controlling party

The ultimate controlling party was Mr J Kirk, the director and shareholder of the company.