Company Registration No. 9297831 (England and Wales)
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
BALANCE SHEET
AS AT
28 NOVEMBER 2023
28 November 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,260
3,726
Investments
4
23,980
18,480
27,240
22,206
Current assets
Debtors
5
126,999
77,886
Cash at bank and in hand
108,598
83,447
235,597
161,333
Creditors: amounts falling due within one year
6
(93,385)
(51,249)
Net current assets
142,212
110,084
Total assets less current liabilities
169,452
132,290
Creditors: amounts falling due after more than one year
7
(19,396)
(28,792)
Net assets
150,056
103,498
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
149,956
103,398
Total equity
150,056
103,498
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 28 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
BALANCE SHEET (CONTINUED)
AS AT
28 NOVEMBER 2023
28 November 2023
2
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 29 July 2024
Miss JB Lorimer
Director
Company Registration No. 9297831
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023
3
1
Accounting policies
Company information
Jess Lorimer Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
33% straight line
Computer equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
1
Accounting policies (Continued)
4
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
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.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charges as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
5
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
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 November 2022
7,871
Additions
2,102
At 28 November 2023
9,973
Depreciation and impairment
At 29 November 2022
4,145
Depreciation charged in the year
2,568
At 28 November 2023
6,713
Carrying amount
At 28 November 2023
3,260
At 28 November 2022
3,726
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
23,980
18,480
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
4
Fixed asset investments (Continued)
6
Movements in fixed asset investments
Investments
£
Cost or valuation
At 29 November 2022
18,480
Additions
5,500
At 28 November 2023
23,980
Carrying amount
At 28 November 2023
23,980
At 28 November 2022
18,480
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
109,082
72,519
Other debtors
17,917
5,367
126,999
77,886
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,396
12,289
Trade creditors
681
Taxation and social security
55,368
27,741
Other creditors
28,621
10,538
93,385
51,249
JESS LORIMER LTD
(FORMERLY CV FUTURE LTD.)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
7
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,396
28,792
8
Financial commitments, guarantees and contingent liabilities
The company had operating lease commitments amounting to £18,734 (2022: £25,546) at the Balance Sheet date.