JA Audit Limited 07916322 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the provision of audit services - as Chartered Accountants. Digita Accounts Production Advanced 6.30.9574.0 true false true 07916322 2023-07-01 2024-06-30 07916322 2024-06-30 07916322 bus:OrdinaryShareClass1 2024-06-30 07916322 core:RetainedEarningsAccumulatedLosses 2024-06-30 07916322 core:ShareCapital 2024-06-30 07916322 core:CurrentFinancialInstruments 2024-06-30 07916322 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 07916322 bus:SmallEntities 2023-07-01 2024-06-30 07916322 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07916322 bus:FilletedAccounts 2023-07-01 2024-06-30 07916322 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07916322 bus:RegisteredOffice 2023-07-01 2024-06-30 07916322 bus:CompanySecretary1 2023-07-01 2024-06-30 07916322 bus:Director2 2023-07-01 2024-06-30 07916322 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 07916322 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07916322 countries:EnglandWales 2023-07-01 2024-06-30 07916322 core:CostValuation 2023-06-30 07916322 2022-07-01 2023-06-30 07916322 2023-06-30 07916322 bus:OrdinaryShareClass1 2023-06-30 07916322 core:RetainedEarningsAccumulatedLosses 2023-06-30 07916322 core:ShareCapital 2023-06-30 07916322 core:CurrentFinancialInstruments 2023-06-30 07916322 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07916322

JA Audit Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

JA Audit Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

JA Audit Limited

Company Information

Director

K F Senior

Company secretary

T F Senior

Registered office

59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

JA Audit Limited

(Registration number: 07916322)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Debtors

5

133,385

13,575

Cash at bank and in hand

 

17,614

3,376

 

150,999

16,951

Creditors: Amounts falling due within one year

6

(38,771)

(11,571)

Net current assets

 

112,228

5,380

Net assets

 

112,229

5,381

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

111,229

4,381

Shareholders' funds

 

112,229

5,381

For the financial year ending 30 June 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 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 his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 August 2024
 

.........................................
K F Senior
Director

 

JA Audit Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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:
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB
England

These financial statements were authorised for issue by the director on 23 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts..

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

JA Audit Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change 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.

Where losses are incurred and these are surrendered to group, the subsidiary claiming the losses pays the amount of the tax saving to the company. This is recognised as a credit to the taxation charge in the period.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

JA Audit Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 July 2023

1

Provision

Carrying amount

At 30 June 2024

1

At 30 June 2023

1

5

Debtors

2024
£

2023
£

Trade debtors

33,269

5,467

Amounts owed by group undertakings and undertakings in which the company has a participating interest

100,116

-

Other debtors

-

8,108

133,385

13,575

 

JA Audit Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

19,000

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

-

10,405

Taxation and social security

 

7,706

1,166

Accruals and deferred income

 

12,065

-

 

38,771

11,571

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

19,000

-

9

Related party transactions

Other transactions with the director

The directors have provided an interest free loan repayable on demand which, at the year end, amounted to £19,000 (2023 - £Nil).