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Registration number: 07069829

Jessup-Bould Limited
Annual Report and
Unaudited Financial Statements

30 November 2023

 

Jessup-Bould Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Jessup-Bould Limited

Balance Sheet
30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

257

344

Current assets

 

Debtors

5

21,747

343

Cash at bank and in hand

 

32,232

35,075

 

53,979

35,418

Creditors: Amounts falling due within one year

6

(18,572)

(11,557)

Net current assets

 

35,407

23,861

Net assets

 

35,664

24,205

Capital and reserves

 

Called up share capital

24

24

Retained earnings

35,640

24,181

Shareholders' funds

 

35,664

24,205

 

Jessup-Bould Limited

Balance Sheet
30 November 2023

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2024
 

.........................................
A S Jessup-Bould
Director

Company Registration Number: 07069829

 

Jessup-Bould Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Edward Avenue
Bredbury
Stockport
Cheshire
SK6 2PQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Jessup-Bould Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Jessup-Bould Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 2 (2022 - 2).

 

Jessup-Bould Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

6,421

6,421

Additions

134

134

At 30 November 2023

6,555

6,555

Depreciation

At 1 December 2022

6,077

6,077

Charge for the year

221

221

At 30 November 2023

6,298

6,298

Carrying amount

At 30 November 2023

257

257

At 30 November 2022

344

344

5

Debtors

Current

2023
£

2022
£

Trade debtors

21,540

-

Prepayments

207

-

Other debtors

-

343

 

21,747

343

 

Jessup-Bould Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

370

312

Taxation and social security

14,247

7,457

Accruals and deferred income

1,036

1,181

Other creditors

2,919

2,607

18,572

11,557

7

Related party transactions

Director's remuneration

The director is remunerated by salary and dividend. The director considers that his remuneration meets the criteria of being under normal market conditions.