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Registration number: 13008917

James and Rhia's Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

James and Rhia's Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

James and Rhia's Ltd

Company Information

Directors

Mr J W Gardiner-Bateman

Miss R E C Gardiner-Bateman

Registered office

3 South Parade
Chew Magna
Bristol
BS40 8SH

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

James and Rhia's Ltd

(Registration number: 13008917)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,454

11,005

Current assets

 

Stocks

5

14,292

13,336

Debtors

6

3,179

3,197

Cash at bank and in hand

 

57,623

75,596

 

75,094

92,129

Creditors: Amounts falling due within one year

7

(22,402)

(34,877)

Net current assets

 

52,692

57,252

Total assets less current liabilities

 

59,146

68,257

Provisions for liabilities

(1,227)

(2,091)

Net assets

 

57,919

66,166

Capital and reserves

 

Called up share capital

2

2

Retained earnings

57,917

66,164

Shareholders' funds

 

57,919

66,166

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

James and Rhia's Ltd

(Registration number: 13008917)
Balance Sheet as at 30 November 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Miss R E C Gardiner-Bateman
Director

 

James and Rhia's Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

James and Rhia's Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% Straight line, 50% Straight line

Shop fittings

33% Straight line, 20% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

James and Rhia's Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 1).

 

James and Rhia's Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023

4

Tangible assets

Computer equipment
£

Shop fittings
£

Total
£

Cost or valuation

At 1 December 2022

3,143

11,874

15,017

At 30 November 2023

3,143

11,874

15,017

Depreciation

At 1 December 2022

1,109

2,903

4,012

Charge for the year

1,340

3,211

4,551

At 30 November 2023

2,449

6,114

8,563

Carrying amount

At 30 November 2023

694

5,760

6,454

At 30 November 2022

2,034

8,971

11,005

5

Stocks

2023
£

2022
£

Stocks

14,292

13,336

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,845

1,820

Prepayments

1,334

1,377

 

3,179

3,197

 

James and Rhia's Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

8,216

7,617

Taxation and social security

2,865

8,853

Accruals and deferred income

2,379

2,386

Other creditors

8,942

16,021

22,402

34,877