Registered number
07237273
J & G (TAX) LTD
Filleted Accounts
31 March 2024
J & G (TAX) LTD
Registered number: 07237273
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 104,582
Current assets
Debtors 4 184,901 52,817
Cash at bank and in hand 99,474 89,026
284,375 141,843
Creditors: amounts falling due within one year 5 (1,000) (18,098)
Net current assets 283,375 123,745
Net assets 283,375 228,327
Capital and reserves
Called up share capital 3 3
Profit and loss account 283,372 228,324
Shareholders' funds 283,375 228,327
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P C Wood
Director
Approved by the board on 2 September 2024
J & G (TAX) LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 104,582
Disposals (104,582)
At 31 March 2024 -
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 -
At 31 March 2023 104,582
4 Debtors 2024 2023
£ £
Other debtors 184,901 52,817
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 15,569
Other creditors 1,000 2,529
1,000 18,098
6 Other information
J & G (TAX) LTD is a private company limited by shares and incorporated in England. Its registered office is:
Brambles
Ashmount Road
Grange Over Sands
Cumbria
LA11 6BX
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