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Registered number: 11974312










Jerboa Homes Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2023

 
Jerboa Homes Ltd
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Jerboa Homes Ltd for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jerboa Homes Ltd for the year ended 30 June 2023 which comprise the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Jerboa Homes Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Jerboa Homes Ltd  and state those matters that we have agreed to state to the Board of Directors of Jerboa Homes Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jerboa Homes Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Jerboa Homes 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 loss of Jerboa Homes Ltd. You consider that Jerboa Homes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Jerboa Homes 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.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
15 March 2024
Page 1

 
Jerboa Homes Ltd
Registered number: 11974312

Balance Sheet
As at 30 June 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
266,965
194,778

Debtors: amounts falling due within one year
 4 
1,574
527

Cash at bank and in hand
  
28,291
29,999

  
296,830
225,304

Creditors: amounts falling due within one year
 5 
(308,154)
(234,527)

Net current liabilities
  
 
 
(11,324)
 
 
(9,223)

Total assets less current liabilities
  
(11,324)
(9,223)

  

Net liabilities
  
(11,324)
(9,223)


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
(11,624)
(9,523)

  
(11,324)
(9,223)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M D Lyons
Director

Date: 15 March 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
Jerboa Homes Ltd
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

1.


General information

The Company is a private company limited by share capital, incorporated England and Wales.
The registered office address is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The principal place of business is:
Toddington Nursery
Lake Lane
Barnham
West Sussex
PO22 0AQ

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

  
2.3

Borrowing costs

The Company has adopted a policy of capitalising borrowing costs in relation to the qualifying stock items. Borrowing costs of £7,332 occurring within the current financial year have been capitalised within stock.  At the year end the total amount of borrowing costs included in stock is £36,194 (2022 - £28,862).

Page 3

 
Jerboa Homes Ltd
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
Jerboa Homes Ltd
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Debtors

2023
2022
£
£


Other debtors
1,574
274

Prepayments and accrued income
-
253

1,574
527



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
18
18

Other creditors
272,568
206,272

Accruals and deferred income
35,568
28,237

308,154
234,527



Page 5