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Registered number: 08314223
JAGDIP LIMITED
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08314223
2023 2022
Notes £ £ £ £
FIXED ASSETS
Fixed Asset Investments 4 24,804 24,804
24,804 24,804
CURRENT ASSETS
Debtors 5 7,699 9,655
Cash at bank and in hand 42,319 49,930
50,018 59,585
Creditors: Amounts Falling Due Within One Year 6 (22,636 ) (22,136 )
NET CURRENT ASSETS (LIABILITIES) 27,382 37,449
TOTAL ASSETS LESS CURRENT LIABILITIES 52,186 62,253
Creditors: Amounts Falling Due After More Than One Year 7 (34,515 ) (39,652 )
NET ASSETS 17,671 22,601
CAPITAL AND RESERVES
Called up share capital 8 300 300
Profit and Loss Account 17,371 22,301
SHAREHOLDERS' FUNDS 17,671 22,601
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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 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 J S Grewal
Director
28/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
JAGDIP LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08314223 . The registered office is 6 Whitebeam Road, Oadby, Leicester, Leicestershire, LE2 4EA.
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.
2.3. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.4. 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 years 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 assets reflect 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.
2.5. Pensions
The Company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Fixed Asset Investments
Unlisted
£
Cost
As at 1 December 2022 54,381
As at 30 November 2023 54,381
Provision
As at 1 December 2022 29,577
As at 30 November 2023 29,577
Net Book Value
As at 30 November 2023 24,804
As at 1 December 2022 24,804
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 7,699 9,290
VAT - 365
7,699 9,655
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 211 211
Accruals and deferred income 22,425 21,925
22,636 22,136
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 2 - 5 Years 34,515 39,652
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
150 Ordinary A shares of £ 1.00 each 150 150
50 Ordinary B shares of £ 1.00 each 50 50
100 Ordinary C shares of £ 1.00 each 100 100
300 300
9. Ultimate Controlling Party
The Company was under the control of it's director during the period under review.
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