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Registered number: 05919658
JAD Associates (Improvement Solutions) Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 05919658
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 2,230 23,420
Cash at bank and in hand 47,193 49,430
49,423 72,850
Creditors: Amounts Falling Due Within One Year 6 (3,632 ) (3,312 )
NET CURRENT ASSETS (LIABILITIES) 45,791 69,538
TOTAL ASSETS LESS CURRENT LIABILITIES 45,791 69,538
NET ASSETS 45,791 69,538
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 45,789 69,536
SHAREHOLDERS' FUNDS 45,791 69,538
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Riley
Director
21st July 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
JAD Associates (Improvement Solutions) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05919658 . The registered office is Stratford House, 4 Plough Drive, Market Rasen, LN8 3DW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Fixtures & Fittings 25% on cost
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
3 3
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 14,535
As at 31 May 2024 14,535
Depreciation
As at 1 June 2023 14,535
As at 31 May 2024 14,535
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
Page 2
Page 3
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,230 23,420
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,651 -
VAT 1,259 1,699
Other creditors (2) 43 43
Accruals and deferred income 630 630
Directors' loan accounts 49 940
3,632 3,312
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Ultimate Controlling Party
The company's ultimate controlling party is David & Jane Riley by virtue of their ownership of 100% of the issued share capital in the company.
Page 3