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Company registration number: 13878681
JLowe Enterprises Limited
Unaudited filleted financial statements
31 January 2024
JLowe Enterprises Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
JLowe Enterprises Limited
Directors and other information
Director Mrs Jayashri Lowe
Company number 13878681
Registered office 118 Sandbach Road North
Alsager
Stoke-on-Trent
Staffordshire
ST7 2AW
Business address 118 Sandbach Road North
Alsager
Stoke-on-Trent
Staffordshire
ST7 2AW
Accountants Everyday Accounting (Cheshire) Limited
3B Crewe Road
Alsager
Stoke-on-Trent
Staffordshire
ST7 2AW
JLowe Enterprises Limited
Statement of financial position
31 January 2024
31/01/24 31/01/23
Note £ £ £ £
Fixed assets
Tangible assets 5 154,123 154,123
_______ _______
154,123 154,123
Current assets
Debtors 6 50 -
Cash at bank and in hand 14,783 6,109
_______ _______
14,833 6,109
Creditors: amounts falling due
within one year 7 ( 158,000) ( 157,097)
_______ _______
Net current liabilities ( 143,167) ( 150,988)
_______ _______
Total assets less current liabilities 10,956 3,135
_______ _______
Net assets 10,956 3,135
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,856 3,035
_______ _______
Shareholder funds 10,956 3,135
_______ _______
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
Mrs Jayashri Lowe
Director
Company registration number: 13878681
JLowe Enterprises Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 118 Sandbach Road North, Alsager, Stoke-on-Trent, Staffordshire, ST7 2AW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
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.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0 (2023: 0 ).
5. Tangible assets
Total
£
Cost
At 1 February 2023 and 31 January 2024 154,123
_______
Depreciation
At 1 February 2023 and 31 January 2024 -
_______
Carrying amount
At 31 January 2024 154,123
_______
At 31 January 2023 154,123
_______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 1 February 2023 and 31 January 2024 154,123
_______
6. Debtors
31/01/24 31/01/23
£ £
Other debtors 50 -
_______ _______
7. Creditors: amounts falling due within one year
31/01/24 31/01/23
£ £
Corporation tax 2,304 768
Other creditors 155,696 156,329
_______ _______
158,000 157,097
_______ _______