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Jide Ltd

Financial Statements for the Year Ended 30 November 2023






Jide Ltd (Registered number: 07436702)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jide Ltd

Company Information
for the year ended 30 November 2023







DIRECTOR: Mr A O Akanbi





REGISTERED OFFICE: 3 Grampian Place
Stevenage
Hertfordshire
SG1 6DR





REGISTERED NUMBER: 07436702 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Jide Ltd (Registered number: 07436702)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 191 16
191 16

CURRENT ASSETS
Debtors 6 10,894 28,443
Cash at bank 597 48
11,491 28,491
CREDITORS
Amounts falling due within one year 7 43,392 32,338
NET CURRENT LIABILITIES (31,901 ) (3,847 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,710

)

(3,831

)

CREDITORS
Amounts falling due after more than one
year

8

16,765

25,985
NET LIABILITIES (48,475 ) (29,816 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (48,477 ) (29,818 )
SHAREHOLDERS' FUNDS (48,475 ) (29,816 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Jide Ltd (Registered number: 07436702)

Balance Sheet - continued
30 November 2023


The 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.

The financial statements were approved by the director and authorised for issue on 5 April 2024 and were signed by:





Mr A O Akanbi - Director


Jide Ltd (Registered number: 07436702)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

Jide Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered to be valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
The franchise fee and computer software costs are now fully amortised

Computer software
Was amortised over its estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Franchise Computer
fee software Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 25,995 2,795 28,790
AMORTISATION
At 1 December 2022
and 30 November 2023 25,995 2,795 28,790
NET BOOK VALUE
At 30 November 2023 - - -
At 30 November 2022 - - -

Jide Ltd (Registered number: 07436702)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 December 2022 458 1,300 1,758
Additions - 268 268
At 30 November 2023 458 1,568 2,026
DEPRECIATION
At 1 December 2022 443 1,299 1,742
Charge for year 4 89 93
At 30 November 2023 447 1,388 1,835
NET BOOK VALUE
At 30 November 2023 11 180 191
At 30 November 2022 15 1 16

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,240 1,240
Other debtors 1,725 1,725
Directors' current accounts - 19,135
Tax 6,343 6,343
VAT 1,586 -
10,894 28,443

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,890 15,530
Capital on Tap loan 11,609 8,921
PAYE (361 ) 391
VAT - 7,496
Directors' current accounts 254 -
43,392 32,338

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 16,765 25,985

Jide Ltd (Registered number: 07436702)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr A O Akanbi
Balance outstanding at start of year 19,135 19,256
Amounts repaid (19,135 ) (121 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,135

10. GOING CONCERN

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. The loss for the period was £18,659 and at the balance sheet date the company had net liabilities of £48,475 and net current liabilities of £31,710. The validity of this basis depends upon the continued support of the company's creditors. The directors are not aware of any reason why continued support from creditors should not be forthcoming.