Company registration number 09826433 (England and Wales)
JAMIE POWELL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
JAMIE POWELL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
JAMIE POWELL LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
142,700
89,200
Cash at bank and in hand
89
39,491
142,789
128,691
Creditors: amounts falling due within one year
4
(79,017)
(72,921)
Net current assets
63,772
55,770
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
63,771
55,769
Total equity
63,772
55,770
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 July 2024
Mr J L Powell
Director
Company registration number 09826433 (England and Wales)
JAMIE POWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information
Jamie Powell Limited is a private company limited by shares incorporated in England and Wales. The registered office is 102 Villageway, Ashford, Middlesex, TW15 2JJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
JAMIE POWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
142,700
89,200
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
13,174
11,015
Other taxation and social security
5,113
5,676
Other creditors
60,730
56,230
79,017
72,921
5
Related party transactions
At the balance sheet date, the amount receivable from associated companies amounted to £139,700 (2022: £89,200).
The companies are related by virtue of common director/shareholder.
At the balance sheet date, The amount due to the director amounted to £59,180 (2022: £54,680).
The loan is unsecured, interest free and repayable on demand.
The company is controlled by Mr. J. M Powell.