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Registration number: 06380470

Jade Jagger Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Jade Jagger Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Jade Jagger Limited

Company Information

Director

J J S Jagger

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Jade Jagger Limited

Statement of Financial Position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,065

7,469

Current assets

 

Stocks

5

110,179

167,173

Debtors

6

48,397

51,312

Cash at bank and in hand

 

25,996

26,923

 

184,572

245,408

Creditors: Amounts falling due within one year

7

(90,830)

(69,431)

Net current assets

 

93,742

175,977

Total assets less current liabilities

 

97,807

183,446

Provisions for liabilities

(239)

(239)

Net assets

 

97,568

183,207

Capital and reserves

 

Called up share capital

50

50

Retained earnings

97,518

183,157

Shareholders' funds

 

97,568

183,207

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Jade Jagger Limited

Statement of Financial Position as at 30 September 2023

Approved and authorised by the director on 3 September 2024
 

.........................................

J J S Jagger

Director

Company registration number: 06380470

 

Jade Jagger Limited

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

1

General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the design and sale of fashion clothing and jewellery, and of personal appearances by the director.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

Although the company made a loss for the year ended 30 September 2023, it had net assets amounting to £97,568 at that date.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.

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 value added tax, returns, rebates and discounts.

Turnover in respect of the design and sale of fashion clothing and jewellery is recognised when the ownership of the goods is transferred.

Turnover in respect of personal appearances is recognised when the service is performed.

 

Jade Jagger Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixtures, Fittings, & Equipment

25% straight line

Motor vehicles

10% 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 first-in, first-out (FIFO) 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Jade Jagger Limited

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

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3

Staff numbers

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

4

Tangible assets

Fixtures, Fittings, & Equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

67,759

3,425

71,184

At 30 September 2023

67,759

3,425

71,184

Depreciation

At 1 October 2022

62,687

1,028

63,715

Charge for the year

3,062

342

3,404

At 30 September 2023

65,749

1,370

67,119

Carrying amount

At 30 September 2023

2,010

2,055

4,065

At 30 September 2022

5,072

2,397

7,469

 

Jade Jagger Limited

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

5

Stocks

2023
£

2022
£

Stock

110,179

167,173

6

Debtors

2023
£

2022
£

Trade debtors

35,287

30,350

Other debtors

13,110

20,962

48,397

51,312

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

20,607

35,421

Taxation and social security

1,813

2,147

Other creditors

68,410

31,863

90,830

69,431

8

Commitments and guarantees

Amounts not provided for in the statement of financial position

The total amount of financial commitments not reflected in the statement of financial position amounts to £21,375 (2022 - £Nil).

9

Transactions with directors

At 30 September 2023 an amount of £Nil (2022: £9,263) was due from a director. During the year advances of £38,245 and repayments of £47,508 were made. Interest of £244 (2022: £1,466) is payable to the company at 2% and 2.25% p.a.. There are no set terms in place.