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REGISTERED NUMBER: 07877154 (England and Wales)















Jay Jay's @ The Beach Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Jay Jay's @ The Beach Limited (Registered number: 07877154)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Jay Jay's @ The Beach Limited

Company Information
for the Year Ended 31 December 2023







Directors: J J V Formosa
H V Formosa





Registered office: The Laurels
Lowestoft Road
Hopton
Great Yarmouth
Norfolk
NR31 9AH





Registered number: 07877154 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Jay Jay's @ The Beach Limited (Registered number: 07877154)

Statement of Financial Position
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 32,269 33,901

Current assets
Stocks - 3,367
Debtors 5 5,988 52
Cash at bank and in hand 83,556 83,560
89,544 86,979
Creditors
Amounts falling due within one year 6 12,231 26,027
Net current assets 77,313 60,952
Total assets less current liabilities 109,582 94,853

Provisions for liabilities 4,360 4,449
Net assets 105,222 90,404

Capital and reserves
Called up share capital 2 2
Retained earnings 105,220 90,402
Shareholders' funds 105,222 90,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2024 and were signed on its behalf by:




H V Formosa - Director


Jay Jay's @ The Beach Limited (Registered number: 07877154)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Jay Jay's @ The Beach Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered. It is stated net of VAT imputed under the flat rate VAT scheme.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer, usually on despatch of the goods and the amount of revenue can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - in accordance with the property
Fixtures, fittings and equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
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.

Taxation
Taxation for the year comprises current and deferred tax. 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Jay Jay's @ The Beach Limited (Registered number: 07877154)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 2 ) .

4. Tangible fixed assets
Improvements Fixtures,
to fittings
leasehold and
property equipment Totals
£    £    £   
Cost
At 1 January 2023 21,894 63,505 85,399
Additions - 5,504 5,504
At 31 December 2023 21,894 69,009 90,903
Depreciation
At 1 January 2023 11,408 40,090 51,498
Charge for year 1,163 5,973 7,136
At 31 December 2023 12,571 46,063 58,634
Net book value
At 31 December 2023 9,323 22,946 32,269
At 31 December 2022 10,486 23,415 33,901

5. Debtors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Other debtors 5,988 52

6. Creditors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Trade creditors - 102
Taxation and social security 4,307 4,847
Other creditors 7,924 21,078
12,231 26,027

Jay Jay's @ The Beach Limited (Registered number: 07877154)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 7,000 7,000
Between one and five years 28,000 28,000
In more than five years 21,000 28,000
56,000 63,000

The company entered into a 20 year lease in respect of its property until 22 January 2032 at an annual rent of £7,000 per annum.