REGISTERED NUMBER: |
Jackson Financial Services Ltd |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
REGISTERED NUMBER: |
Jackson Financial Services Ltd |
Unaudited Financial Statements |
for the Year Ended 31 October 2023 |
Jackson Financial Services Ltd (Registered number: 05968495) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Statement of financial position | 3 | to | 4 |
Notes to the financial statements | 5 | to | 8 |
Jackson Financial Services Ltd |
Company Information |
for the Year Ended 31 October 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Jackson Financial Services Ltd |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jackson Financial Services Ltd for the year ended 31 October 2023 which comprise the Statement of income and retained earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Jackson Financial Services Ltd, as a body, in accordance with the terms of our engagement letter dated 8 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Jackson Financial Services Ltd and state those matters that we have agreed to state to the Board of Directors of Jackson Financial Services Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jackson Financial Services Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Jackson Financial Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jackson Financial Services Ltd. You consider that Jackson Financial Services Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Jackson Financial Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Jackson Financial Services Ltd (Registered number: 05968495) |
Statement of Financial Position |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 5 |
Tangible assets | 6 |
Investments | 7 |
Current assets |
Debtors | 8 |
Cash at bank |
Creditors |
Amounts falling due within one year | 9 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
10 |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Share premium |
Fair value reserve | 12 |
Retained earnings |
Shareholders' funds |
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. |
Jackson Financial Services Ltd (Registered number: 05968495) |
Statement of Financial Position - continued |
31 October 2023 |
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 |
Jackson Financial Services Ltd (Registered number: 05968495) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | Statutory information |
Jackson Financial Services Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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: |
Computer equipment | - | 33% straight line |
Office equipment | - | 25% reducing balance |
Leasehold property | - | 10% straight line |
Jackson Financial Services Ltd (Registered number: 05968495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
3. | Accounting policies - continued |
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. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
4. | Employees and directors |
The average number of employees during the year was |
Jackson Financial Services Ltd (Registered number: 05968495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
5. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Amortisation |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
6. | Tangible fixed assets |
Leasehold |
property | Equipment | Totals |
£ | £ | £ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Depreciation |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
7. | Fixed asset investments |
Other |
loans |
£ |
At 1 November 2022 |
Repayment in year | ( |
) |
At 31 October 2023 |
8. | Debtors |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Tax |
Prepayments and accrued income |
Jackson Financial Services Ltd (Registered number: 05968495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
8. | Debtors - continued |
2023 | 2022 |
£ | £ |
Amounts falling due after more than one year: |
Tax |
Aggregate amounts |
9. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Directors' current accounts | 2,269 | 16,248 |
Accruals and deferred income |
10. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans 1-2 years | - | 9,470 |
Bank loans 2-5 years | - | 15,258 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | £1 | 100 | 100 |
Ordinary A shares | £1 | 50 | 50 |
150 | 150 |
12. | Reserves |
Fair |
value |
reserve |
£ |
At 1 November 2022 |
Fair value adjustment | (1,781 | ) |
At 31 October 2023 |