Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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5,334 | 10,399 | |||
Current assets | ||||
Debtors | ||||
- due within one year | 6 |
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- due after more than one year | 6 |
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Cash at bank and in hand |
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209,542 | 278,249 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 21,954 | 64,517 | ||
Total assets less current liabilities | 27,288 | 74,916 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Share premium account |
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Fair value reserve |
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Capital redemption reserve |
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Profit and loss account | (
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of JSS (Dorchester) Limited (registered number:
P A German-Ribon
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
JSS (Dorchester) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 47 South Street, Bridport, DT6 3NY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Goodwill |
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Land and buildings | not depreciated |
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2022 |
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At 30 April 2023 |
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Accumulated amortisation | |||
At 01 May 2022 |
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Charge for the financial year |
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At 30 April 2023 |
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Net book value | |||
At 30 April 2023 |
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At 30 April 2022 |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 May 2022 |
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Additions |
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At 30 April 2023 |
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Accumulated depreciation | |||||
At 01 May 2022 |
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Charge for the financial year |
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At 30 April 2023 |
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Net book value | |||||
At 30 April 2023 |
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At 30 April 2022 |
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Listed investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 May 2022 |
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Movement in fair value | (
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At 30 April 2023 |
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Carrying value at 30 April 2023 |
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Carrying value at 30 April 2022 |
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2023 | 2022 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Trade debtors |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans (secured) |
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Bank borrowings are secured by a debenture over the company assets and undertakings.
A personal guarantee of £135,588 has also been given for the company's bank borrowings and overdrafts by the directors.
Transactions with the entity's directors
The Director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 May 2022, the balance owed by the director was £47,185. During the year, £52,281 was advanced to the director, and £5,748 was repaid by the director. At 30 April 2023, the balance owed by the director was £93,718.
At 1 May 2021, the balance owed to the director was £10,037. During the year, £65,771 was advanced to the director, and £8,549 was repaid by the director. At 30 April 2022, the balance owed by the director was £47,185.