2023-02-012024-01-312024-01-31falseSC686293JAKOBS TRANSPORT 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JAKOBS TRANSPORT LTD

Registered Number
SC686293
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2024

JAKOBS TRANSPORT LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

MALEC, Sebastian

Registered Address

19 Glen Beasdale Court
Dunfermline
KY11 8TJ

Registered Number

SC686293 (Scotland)
JAKOBS TRANSPORT LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets328,89639,417
28,89639,417
Current assets
Debtors413,8081,775
Cash at bank and on hand6,01420,016
19,82221,791
Creditors amounts falling due within one year5(27,177)(29,437)
Net current assets (liabilities)(7,355)(7,646)
Total assets less current liabilities21,54131,771
Creditors amounts falling due after one year6(6,750)(15,750)
Accruals and deferred income-(176)
Net assets14,79115,845
Capital and reserves
Called up share capital100100
Profit and loss account14,69115,745
Shareholders' funds14,79115,845
The financial statements were approved and authorised for issue by the Director on 21 August 2024, and are signed on its behalf by:
MALEC, Sebastian
Director
Registered Company No. SC686293
JAKOBS TRANSPORT LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
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.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles-5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 2351,000
At 31 January 2451,000
Depreciation and impairment
At 01 February 2311,583
Charge for year10,521
At 31 January 2422,104
Net book value
At 31 January 2428,896
At 31 January 2339,417
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables13,8081,775
Total13,8081,775
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-7
Taxation and social security3,8904,163
Finance lease and HP contracts12,01311,793
Other creditors11,27413,474
Total27,17729,437
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.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors6,75015,750
Total6,75015,750
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts6,75015,750
8.Directors advances, credits and guarantees
Director Sebastian Malec was owed £11,273 from the company. This loan is interest free and there is no set repayment date.