Registered number
05173305
Jettadrain Limited
Unaudited Filleted Accounts
31 July 2023
Jettadrain Limited
Registered number: 05173305
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 425 850
Tangible assets 4 89,447 62,562
89,872 63,412
Current assets
Stocks 5,000 4,100
Debtors 5 37,523 25,673
Cash at bank and in hand 151,421 195,239
193,944 225,012
Creditors: amounts falling due within one year 6 (46,742) (67,082)
Net current assets 147,202 157,930
Total assets less current liabilities 237,074 221,342
Provisions for liabilities (17,038) (10,578)
Net assets 220,036 210,764
Capital and reserves
Called up share capital 100 100
Profit and loss account 219,936 210,664
Shareholders' funds 220,036 210,764
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. S. N. Franks
Director
Approved by the board on 23 April 2024
Jettadrain Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 8,500
At 31 July 2023 8,500
Amortisation
At 1 August 2022 7,650
Provided during the year 425
At 31 July 2023 8,075
Net book value
At 31 July 2023 425
At 31 July 2022 850
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 321,051
Additions 60,946
Disposals (67,047)
At 31 July 2023 314,950
Depreciation
At 1 August 2022 258,489
Charge for the year 29,891
On disposals (62,877)
At 31 July 2023 225,503
Net book value
At 31 July 2023 89,447
At 31 July 2022 62,562
5 Debtors 2023 2022
£ £
Trade debtors 33,758 24,196
Other debtors 3,765 1,477
37,523 25,673
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,616 4,029
Directors loan account 3,924 2,988
Taxation and social security costs 31,580 37,402
Other creditors 8,622 22,663
46,742 67,082
7 Controlling party
The ultimate controlling parties are Mr. & Mrs. Franks who own the whole of the issued share capital.
8 Other information
Jettadrain Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Dainton Business Park
Heathfield
Newton Abbot
Devon
TQ12 6RG
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