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Company Registration No. 07088620 (England and Wales)
The Jolly Savage Limited Unaudited accounts for the year ended 30 November 2023
The Jolly Savage Limited Unaudited accounts Contents
Page
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The Jolly Savage Limited Company Information for the year ended 30 November 2023
Directors
Oliver Thomas Savage Leon Barrie Jolly
Secretary
Oliver Thomas Savage
Company Number
07088620 (England and Wales)
Registered Office
First Floor 66 Wilbury Way Hitchin Hertfordshire SG4 0TP
Accountants
Savage Accountants Limited Red Oaks, Reacliffe Road Rudyard Leek Staffordshire ST13 8RS
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The Jolly Savage Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
39,129 
54,459 
Investments
2,263 
2,263 
41,392 
56,722 
Current assets
Inventories
471,613 
350,504 
Debtors
767,217 
790,340 
Cash at bank and in hand
118,795 
227,743 
1,357,625 
1,368,587 
Creditors: amounts falling due within one year
(726,524)
(738,425)
Net current assets
631,101 
630,162 
Total assets less current liabilities
672,493 
686,884 
Provisions for liabilities
Deferred tax
(8,943)
(13,615)
Net assets
663,550 
673,269 
Capital and reserves
Share premium
4 
4 
Profit and loss account
663,546 
673,265 
Shareholders' funds
663,550 
673,269 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by
Oliver Thomas Savage Director Company Registration No. 07088620
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The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
The Jolly Savage Limited is a private company, limited by shares, registered in England and Wales, registration number 07088620. The registered office is First Floor, 66 Wilbury Way, Hitchin, Hertfordshire, SG4 0TP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
No material adjustments were required.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write of the cost of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at rates of 25-33% per annum. Assets held under finance leases are depreciated in the same way as owned assets. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expenses in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as an expense in the period in which the reversal occurs.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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.
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The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2023
Employee benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Pensions
The company operates an auto enrolment scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance sheet obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals payable under operating leases, including any lease incentives received, are charged to income 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 lease asset are consumed.
Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not re-translated.
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 December 2022
9,454 
At 30 November 2023
9,454 
Amortisation
At 1 December 2022
9,454 
At 30 November 2023
9,454 
Net book value
At 30 November 2023
- 
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The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2023
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 December 2022
53,705 
28,717 
8,388 
90,810 
At 30 November 2023
53,705 
28,717 
8,388 
90,810 
Depreciation
At 1 December 2022
13,426 
15,977 
6,948 
36,351 
Charge for the year
10,070 
4,246 
1,014 
15,330 
At 30 November 2023
23,496 
20,223 
7,962 
51,681 
Net book value
At 30 November 2023
30,209 
8,494 
426 
39,129 
At 30 November 2022
40,279 
12,740 
1,440 
54,459 
6
Investments
Other investments 
£ 
Valuation at 1 December 2022
2,263 
Valuation at 30 November 2023
2,263 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
462,181 
532,362 
Amounts due from group undertakings etc.
279,919 
229,437 
Accrued income and prepayments
13,807 
17,231 
Other debtors
11,310 
11,310 
767,217 
790,340 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
200,626 
294,860 
VAT
73,734 
57,507 
Trade creditors
89,440 
50,048 
Taxes and social security
59,392 
47,826 
Other creditors
79,739 
94,605 
Loans from directors
222,593 
178,054 
Accruals
1,000 
15,525 
726,524 
738,425 
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The Jolly Savage Limited Notes to the Accounts for the year ended 30 November 2023
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
31,500 
31,500 
Later than one year and not later than five years
78,750 
110,250 
110,250 
141,750 
10
Average number of employees
During the year the average number of employees was 14 (2022: 13).
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