Registered number
09356184
HAYLEY JAYAWARDENE LTD
Unaudited Filleted Accounts
31 December 2023
HAYLEY JAYAWARDENE LTD
Registered number: 09356184
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,794 2,654
Current assets
Debtors 4 714 1,367
Cash at bank and in hand 12,957 26,671
13,671 28,038
Creditors: amounts falling due within one year 5 (15,282) (26,671)
Net current (liabilities)/assets (1,611) 1,367
Net assets 1,183 4,021
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,083 3,921
Shareholders' funds 1,183 4,021
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.
H Jayawardene
Director
Approved by the board on 29 July 2024
HAYLEY JAYAWARDENE LTD
Notes to the Accounts
for the year ended 31 December 2023
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 6,841
Additions 1,071
At 31 December 2023 7,912
Depreciation
At 1 January 2023 4,187
Charge for the year 931
At 31 December 2023 5,118
Net book value
At 31 December 2023 2,794
At 31 December 2022 2,654
4 Debtors 2023 2022
£ £
Trade debtors - 350
Other debtors 714 1,017
714 1,367
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 13,603
Corporation tax 13,000 11,750
Other taxes and social security costs 1,002 -
Other creditors 1,280 1,318
15,282 26,671
6 Related party transactions
During the year the company paid the following dividend to the directors
Hayley Jayawardene 52,000 70,000
Errol Jayawardene 1,000
53,000 70,000
7 Controlling party
The ultimate controlling interest is held by the directors.
8 Other information
HAYLEY JAYAWARDENE LTD is a private company limited by shares and incorporated in England. Its registered office is:
Hamilton House
4A The Avenue
Highams Park
London
E4 9LD
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