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REGISTERED NUMBER: 04865606 (England and Wales)












JHALLEY LIMITED

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






JHALLEY LIMITED (REGISTERED NUMBER: 04865606)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


JHALLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







Directors: Mrs S K Jhalley
Mr A K Jhalley



Secretary: Mrs S K Jhalley



Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Business address: 28-30 Regent Road
Morecambe
LA3 1QN



Registered number: 04865606 (England and Wales)



Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: Royal Bank of Scotland Plc
St Ann Street
MANCHESTER
M60 2SS

JHALLEY LIMITED (REGISTERED NUMBER: 04865606)

ABRIDGED BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 122,605 136,620
122,605 136,620

Current assets
Stocks 235,781 198,424
Debtors 308,705 219,855
Prepayments and accrued income 5,506 7,627
Cash at bank and in hand 578,331 568,079
1,128,323 993,985
Creditors
Amounts falling due within one year 483,189 352,773
Net current assets 645,134 641,212
Total assets less current liabilities 767,739 777,832

Provisions for liabilities (10,801 ) (9,432 )

Accruals and deferred income (5,685 ) (5,335 )
Net assets 751,253 763,065

Capital and reserves
Called up share capital 6 100 100
Retained earnings 751,153 762,965
Shareholders' funds 751,253 763,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

JHALLEY LIMITED (REGISTERED NUMBER: 04865606)

ABRIDGED BALANCE SHEET - continued
31 AUGUST 2023


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 Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 August 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 A K Jhalley - Director


JHALLEY LIMITED (REGISTERED NUMBER: 04865606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. Statutory information

Jhalley 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods and services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good or service to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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 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 - 2% Straight line
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% Reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

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.


JHALLEY LIMITED (REGISTERED NUMBER: 04865606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. Accounting policies - continued
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.

3. Employees and directors

The average number of employees during the year was 20 (2022 - 20 ) .

4. Intangible fixed assets
Totals
£   
Cost
At 1 September 2022
and 31 August 2023 100,000
Amortisation
At 1 September 2022
and 31 August 2023 100,000
Net book value

At 31 August 2023 -
At 31 August 2022 -

JHALLEY LIMITED (REGISTERED NUMBER: 04865606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. Tangible fixed assets
Totals
£   
Cost
At 1 September 2022 372,950
Additions 1,722
Disposals (28,499 )
At 31 August 2023 346,173
Depreciation
At 1 September 2022 236,330
Charge for year 14,115
Eliminated on disposal (26,877 )
At 31 August 2023 223,568
Net book value
At 31 August 2023 122,605
At 31 August 2022 136,620

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 Ordinary A shares £1 51 51
28 Ordinary B shares £1 28 28
21 Ordinary C shares £1 21 21
100 100