Registered number
08248794
JALSA LTD
Filleted Accounts
31 October 2023
JALSA LTD
Registered number: 08248794
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 65,015 67,641
Current assets
Stocks 21,510 55,860
Debtors 4 220,927 187,240
Cash at bank and in hand 62,631 30,002
305,068 273,102
Creditors: amounts falling due within one year 5 (203,963) (197,424)
Net current assets 101,105 75,678
Total assets less current liabilities 166,120 143,319
Creditors: amounts falling due after more than one year 6 (15,968) (25,817)
Net assets 150,152 117,502
Capital and reserves
Called up share capital 100 100
Profit and loss account 150,052 117,402
Shareholders' funds 150,152 117,502
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.
DHIRAJKUMAR KOTECHA
Director
Approved by the board on 26 July 2024
JALSA LTD
Notes to the Accounts
for the year ended 31 October 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.
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:
Fixtures, fittings and Equipment 20% on a reducing balance basis
Motor vans 25% on a reducing balance basis
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Improvmnts to Premises Fixtures, Fittings and Equipment Motor vans Total
£ £ £ £
Cost
At 1 November 2022 26,873 171,714 33,003 231,590
Additions - 7,346 - 7,346
At 31 October 2023 26,873 179,060 33,003 238,936
Depreciation
At 1 November 2022 - 137,931 26,018 163,949
Charge for the year - 8,226 1,746 9,972
At 31 October 2023 - 146,157 27,764 173,921
Net book value
At 31 October 2023 26,873 32,903 5,239 65,015
At 31 October 2022 26,873 33,783 6,985 67,641
4 Debtors 2023 2022
£ £
Trade debtors 198,460 168,026
Other debtors 22,467 19,214
220,927 187,240
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Obligations under finance lease and hire purchase contracts 20 3,272
Trade creditors 127,692 105,235
Corporation tax 31,889 28,142
Other taxes and social security costs 4,778 4,289
Other creditors 28,936 45,838
203,963 197,424
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,968 25,817
7 Other information
JALSA LTD is a private company limited by shares and incorporated in England. Its registered office is:
111 High Street
Edgware
Middlesex
HA8 7DB
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