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Company registration number: 09819902
JJS Medical Limited
Unaudited filleted financial statements
31 August 2023
JJS Medical Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
JJS Medical Limited
Directors and other information
Directors Mr J Smith
Mrs J A Smith
Secretary Mrs J A Smith
Company number 09819902
Registered office 38 Outerwyke Road
Bognor Regis
West Sussex
PO22 8NF
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
JJS Medical Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of JJS Medical Limited
Year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JJS Medical Limited for the year ended 31 August 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of JJS Medical Limited, as a body, in accordance with the terms of our engagement letter dated 29 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of JJS Medical Limited and state those matters that we have agreed to state to the board of directors of JJS Medical Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JJS Medical Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that JJS Medical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JJS Medical Limited. You consider that JJS Medical Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of JJS Medical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
27 August 2024
JJS Medical Limited
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 360 -
_______ _______
360 -
Current assets
Debtors 6 - 118
Cash at bank and in hand 9,387 6,983
_______ _______
9,387 7,101
Creditors: amounts falling due
within one year 7 ( 2,347) ( 2,404)
_______ _______
Net current assets 7,040 4,697
_______ _______
Total assets less current liabilities 7,400 4,697
_______ _______
Net assets 7,400 4,697
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,300 4,597
_______ _______
Shareholders funds 7,400 4,697
_______ _______
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Mr J Smith
Director
Company registration number: 09819902
JJS Medical Limited
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Outerwyke Road, Bognor Regis, West Sussex, PO22 8NF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which assumes the continued support of the company's directors.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 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 a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Computer equipment Total
£ £
Cost
At 1 September 2022 - -
Additions 499 499
_______ _______
At 31 August 2023 499 499
_______ _______
Depreciation
At 1 September 2022 - -
Charge for the year 139 139
_______ _______
At 31 August 2023 139 139
_______ _______
Carrying amount
At 31 August 2023 360 360
_______ _______
At 31 August 2022 - -
_______ _______
6. Debtors
2023 2022
£ £
Other debtors - 118
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 1,561 1,662
Other creditors 786 742
_______ _______
2,347 2,404
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr J Smith ( 82) ( 8,351) 8,373 ( 60)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr J Smith ( 629) ( 2,090) 2,637 ( 82)
_______ _______ _______ _______