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Registered Number: 13077414
England and Wales

 

 

 

JAKE & CO CAPITAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Jake Wang
Registered Number 13077414
Registered Office 61 Bridge Street
Kington
England
HR5 3DJ
Accountants aa Chartered Accountants
Fenlake House
Fenlake Business Centre
Peterborough
PE1 5BQ
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 December 2023
Principal activities
The companys principal activity during the year was other letting and operating of own or leased real estate
Director
The director who served the company throughout the year was as follows:
Jake Wang
Statement of director's responsibilities
The director is responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the director is required to   
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Jake Wang
Director

Date approved: 04 September 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Jake & Co Capital Ltd for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jake & Co Capital Ltd for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Jake & Co Capital Ltd, as a body, in accordance with the terms of our engagement letter dated 04 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Jake & Co Capital Ltd and state those matters that we have agreed to state to the Board of Directors of Jake & Co Capital Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jake & Co Capital Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jake & Co Capital Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jake & Co Capital Ltd. You consider that Jake & Co Capital Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Jake & Co Capital Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
31 December 2023



....................................................
aa Chartered Accountants
Fenlake House
Fenlake Business Centre
Peterborough
PE1 5BQ
04 September 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 127,850    125,000 
127,850    125,000 
Current assets      
Debtors 4 6,434    12,638 
Cash at bank and in hand 1,319    1,121 
7,753    13,759 
Creditors: amount falling due within one year 5 (24,247)   (19,769)
Net current assets (16,494)   (6,010)
 
Total assets less current liabilities 111,356    118,990 
Creditors: amount falling due after more than one year 6 (95,625)   (95,625)
Accruals and deferred income   (491)
Provisions for liabilities 7 (4,479)   (4,479)
Net assets 11,252    18,395 
 

Capital and reserves
     
Called up share capital 8 1    1 
Reserves 9 25,881    25,881 
Profit and loss account (14,630)   (7,487)
Shareholders' funds 11,252    18,395 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 04 September 2024 and were signed by:


-------------------------------
Jake Wang
Director
4
General Information
Jake & Co Capital Ltd is a private company, limited by shares, registered in England and Wales, registration number 13077414, registration address 61 Bridge Street, Kington, England, HR5 3DJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements, and agree not to withdraw any funding.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees including directors

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 January 2023 125,000    125,000 
Additions 2,850    2,850 
Disposals  
At 31 December 2023 127,850    127,850 
Depreciation
At 01 January 2023  
Charge for year  
On disposals  
At 31 December 2023  
Net book values
Closing balance as at 31 December 2023 127,850    127,850 
Opening balance as at 01 January 2023 125,000    125,000 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
A & J Accommodation Ltd 5,000   
Prepayments & Accrued Income 659    1,102 
Deposits paid 775    490 
Other Debtors   11,046 
6,434    12,638 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 187    232 
Amounts Owed to Participating Interests 2,798   
Accrued Expenses 1,410    1,380 
Other Creditors 775    490 
Directors' Current Accounts 19,077    17,667 
24,247    19,769 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 95,625    95,625 
95,625    95,625 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 4,479    4,479 
4,479    4,479 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

9.

Reserves

2023
£
  2022
£
Revaluation Reserve b/fwd 25,881   
Revaluation of Fixed Assets   25,881 
25,881    25,881 

10.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
A & J Accommodation Ltd5,000 11,000 
Bridgnect Co Ltd2,798 

The company was involved in related party transactions with A & J Accommodation Ltd during the year. Jake Wang is also a director for mentioned company however as of 31 December 2023, A & J Accommodation Ltd owed Jake & Co Capital Limited £5,000 (£11,000 - 2022).
The company was involved in related party transactions with Bridgnect Co., Limited during the year. Jake Wang is also a director for mentioned company however as of 31 December 2023, Jake & Co Capital Ltd owed Bridgnect Co., Limited £2,798 (£nill - 2022).
11.

Bank Loans- Security

The bank loans are secured on the Company's Investment Properties.
12.

Director loan

The director has advanced to and has been advanced monies by company during the year. The balance at 31 December 2023 is £19,077 (2022: £17,667) owed to the director.


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