Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06543952 Mr Steven Burn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06543952 2023-03-31 06543952 2024-03-31 06543952 2023-04-01 2024-03-31 06543952 frs-core:CurrentFinancialInstruments 2024-03-31 06543952 frs-core:FurnitureFittings 2024-03-31 06543952 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06543952 frs-core:FurnitureFittings 2023-03-31 06543952 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 06543952 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06543952 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 06543952 frs-core:ShareCapital 2024-03-31 06543952 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06543952 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06543952 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06543952 frs-bus:SmallEntities 2023-04-01 2024-03-31 06543952 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06543952 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06543952 frs-bus:Director1 2023-04-01 2024-03-31 06543952 1 2023-04-01 2024-03-31 06543952 frs-countries:EnglandWales 2023-04-01 2024-03-31 06543952 2022-03-31 06543952 2023-03-31 06543952 2022-04-01 2023-03-31 06543952 frs-core:CurrentFinancialInstruments 2023-03-31 06543952 frs-core:ShareCapital 2023-03-31 06543952 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06543952 1 2022-04-01 2023-03-31
Registered number: 06543952
Just Gents (York) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06543952
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,216 12,791
12,216 12,791
CURRENT ASSETS
Stocks 5 700 500
Cash at bank and in hand 5,761 2,313
6,461 2,813
Creditors: Amounts Falling Due Within One Year 7 (7,945 ) (3,711 )
NET CURRENT ASSETS (LIABILITIES) (1,484 ) (898 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,732 11,893
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,249 ) (1,249 )
NET ASSETS 9,483 10,644
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 9,482 10,643
SHAREHOLDERS' FUNDS 9,483 10,644
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For the year ending 31 March 2024 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 Profit and Loss Account.
On behalf of the board
Mr Steven Burn
Director
19 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Just Gents (York) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06543952 . The registered office is 138 High Street, Crediton, Devon, EX17 3DX. The business address is 52 Broadway, Fulford, York, YO10 4JX.
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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold 6.66% straight line
Fixtures & Fittings 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
2.6. 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 year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
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.
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2.7. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
All Staff 2 3
2 3
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 8,478 47,832 56,310
Additions - 2,029 2,029
Disposals - (957 ) (957 )
As at 31 March 2024 8,478 48,904 57,382
Depreciation
As at 1 April 2023 2,260 41,259 43,519
Provided during the period 565 1,824 2,389
Disposals - (742 ) (742 )
As at 31 March 2024 2,825 42,341 45,166
Net Book Value
As at 31 March 2024 5,653 6,563 12,216
As at 1 April 2023 6,218 6,573 12,791
5. Stocks
2024 2023
£ £
Materials 700 500
6. Debtors
2024 2023
£ £
Due within one year
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 146 144
Other creditors 312 670
Director's loan account 7,487 2,897
7,945 3,711
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Related Party Transactions
At the year end, 31 March 2024, the company owed the Director £7,487 (2023: £2,897) in respect of loans held with the company. These amounts are interest free and repayable on demand.
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