Registered number
13335552
J & N GOLD TRADERS LTD
Filleted Accounts
31 May 2024
J & N GOLD TRADERS LTD
Registered number: 13335552
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,162 1,040
Current assets
Stocks 36,800 3,500
Debtors 4 (6,788) 318
Cash at bank and in hand 1,920 1,724
31,932 5,542
Creditors: amounts falling due within one year 5 (5,158) (759)
Net current assets 26,774 4,783
Net assets 27,936 5,823
Capital and reserves
Called up share capital 100 100
Profit and loss account 27,836 5,723
Shareholder's funds 27,936 5,823
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
MOHAMMED NADEEM
Director
Approved by the board on 1 July 2024
J & N GOLD TRADERS LTD
Notes to the Accounts
for the year ended 31 May 2024
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:
Plant and machinery over 10 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 1
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 June 2023 1,300
Additions 280
At 31 May 2024 1,580
Depreciation
At 1 June 2023 260
Charge for the year 158
At 31 May 2024 418
Net book value
At 31 May 2024 1,162
At 31 May 2023 1,040
4 Debtors 2024 2023
£ £
Other debtors (6,788) 318
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation Tax 5,158 759
6 Other information
J & N GOLD TRADERS LTD is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 5 CARLTON MILLS
HIRST ROAD
DEWSBURY
WF13 2AD
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