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REGISTERED NUMBER: 03600582 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JACOB JURGENSEN (UK) LTD

JACOB JURGENSEN (UK) LTD (REGISTERED NUMBER: 03600582)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JACOB JURGENSEN (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M Bausor
S Prodohl





REGISTERED OFFICE: Weston House
18/22 Church Street
Lutterworth
Leicestershire
LE17 4AL





REGISTERED NUMBER: 03600582 (England and Wales)





AUDITORS: PWH Accountancy Ltd (Statutory Auditors)
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

JACOB JURGENSEN (UK) LTD (REGISTERED NUMBER: 03600582)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,637 3,812

CURRENT ASSETS
Debtors 6 18,612 18,568
Cash at bank 39,786 54,146
58,398 72,714
CREDITORS
Amounts falling due within one year 7 8,810 13,324
NET CURRENT ASSETS 49,588 59,390
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,225

63,202

CAPITAL AND RESERVES
Called up share capital 8 50,000 50,000
Retained earnings 9 3,225 13,202
SHAREHOLDERS' FUNDS 53,225 63,202

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 Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:




M Bausor - Director



S Prodohl - Director


JACOB JURGENSEN (UK) LTD (REGISTERED NUMBER: 03600582)

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

1. STATUTORY INFORMATION

Jacob Jurgensen (UK) 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at variable rates on reducing balance

JACOB JURGENSEN (UK) LTD (REGISTERED NUMBER: 03600582)

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

3. ACCOUNTING POLICIES - continued

Financial instruments

Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Foreign currencies
The financial statements are presented in GBP, being both the company's functional and presentation currency. Transactions denominated in foreign currencies are translated into GBP at the rates of exchange in operation on the dates of the transactions. Monetary assets and liabilities expressed in foreign currencies are translated into GBP at the rates of exchange prevailing at the date of the Statements of Financial Position. Translation differences are dealt with through the Statement of Comprehensive Income in the period in which they arise.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

JACOB JURGENSEN (UK) LTD (REGISTERED NUMBER: 03600582)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 14,093
Additions 1,083
At 31 December 2023 15,176
DEPRECIATION
At 1 January 2023 10,281
Charge for year 1,258
At 31 December 2023 11,539
NET BOOK VALUE
At 31 December 2023 3,637
At 31 December 2022 3,812

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 8,348 9,098
ACT recoverable 3,590 3,590
PL debit balances - 2,087
VAT 1,151 84
Prepayments and accrued income 5,523 3,709
18,612 18,568

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Social security and other taxes 924 507
Other creditors - 2,261
Purchase ledger control 93 29
Credit card 101 618
Directors' loan accounts 5,692 2,909
Accrued expenses 2,000 7,000
8,810 13,324

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary £1 50,000 50,000

JACOB JURGENSEN (UK) LTD (REGISTERED NUMBER: 03600582)

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

9. RESERVES
Retained
earnings
£   

At 1 January 2023 13,202
Deficit for the year (9,977 )
At 31 December 2023 3,225

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Roger A Platt (Senior Statutory Auditor)
for and on behalf of PWH Accountancy Ltd (Statutory Auditors)

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2023 and the period ended 31 December 2022:

2023 2022
£    £   
M Bausor
Balance outstanding at start of year (2,908 ) (20,184 )
Amounts advanced - 24,504
Amounts repaid (2,784 ) (7,228 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,692 ) (2,908 )

12. RELATED PARTY DISCLOSURES

Included within creditors on the balance sheet is an amount due to the director, Mr M Bausor of £5,692 (2022 £2,908). During the year ended 31 December 2022, Mr M Bauser waived £5,000 of the balance due to him by the company in the year ended 31 December 2022..

The company charged commission to its parent company. Details of these transactions are recorded in the accounts of the parent company.

13. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Jacob Jurgensen Papier und Zellstoff Gmbh, a company registered in Germany, whose registered office is Hans-Henny-Jahnn Weg, 22085 Hamburg, Germany.
The director Mr S Prodohl and Mr D von Stamm act together as the controlling party by reason of their controlling interest in the shares of the parent company.