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Registered number: 04577776
Janet Baxter Enterprises Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
TaxAssist Accountants
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 04577776
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,738 1,044
3,738 1,044
CURRENT ASSETS
Debtors 5 52,287 30,245
Cash at bank and in hand 29,549 40,860
81,836 71,105
Creditors: Amounts Falling Due Within One Year 6 (15,259 ) (16,496 )
NET CURRENT ASSETS (LIABILITIES) 66,577 54,609
TOTAL ASSETS LESS CURRENT LIABILITIES 70,315 55,653
NET ASSETS 70,315 55,653
CAPITAL AND RESERVES
Called up share capital 7 200 200
Income Statement 70,115 55,453
SHAREHOLDERS' FUNDS 70,315 55,653
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Income Statement.
On behalf of the board
Mr Oliver Baxter
Director
25/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Janet Baxter Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04577776 . The registered office is 8 Heron Close, Farndon, Chester, CH3 6RQ.
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 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 33% RBM
Fixtures & Fittings 25% RBM
Computer Equipment 25% RBM
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 1,560 7,009 333 8,902
Additions - 2,501 1,439 3,940
As at 31 October 2023 1,560 9,510 1,772 12,842
Depreciation
As at 1 November 2022 1,560 6,106 192 7,858
Provided during the period - 851 395 1,246
As at 31 October 2023 1,560 6,957 587 9,104
Net Book Value
As at 31 October 2023 - 2,553 1,185 3,738
As at 1 November 2022 - 903 141 1,044
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 241 -
Director's loan account 52,046 30,245
52,287 30,245
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,047
Corporation tax 10,035 11,295
VAT 3,675 2,717
Accruals and deferred income 1,549 1,437
15,259 16,496
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Oliver Baxter 30,245 60,219 (38,418 ) - 52,046
The above loan is unsecured, interest free and repayable on demand.
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