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REGISTERED NUMBER: 10522622 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

JAL Produce Limited

JAL Produce Limited (Registered number: 10522622)






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


JAL Produce Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S Difrancesco





SECRETARY: S Difrancesco





REGISTERED OFFICE: 147a High Street
Waltham Cross
United Kingdom
Hertfordshire
EN8 7AP





REGISTERED NUMBER: 10522622 (England and Wales)





AUDITORS: Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

JAL Produce Limited (Registered number: 10522622)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,755 43,611

CURRENT ASSETS
Stocks 2,070 -
Debtors 5 557,102 466,817
Cash at bank 537,795 431,642
1,096,967 898,459
CREDITORS
Amounts falling due within one year 6 676,675 681,517
NET CURRENT ASSETS 420,292 216,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,047

260,553

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 457,046 260,552
SHAREHOLDERS' FUNDS 457,047 260,553

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 July 2024 and were signed by:





S Difrancesco - Director


JAL Produce Limited (Registered number: 10522622)

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

1. STATUTORY INFORMATION

JAL Produce 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - straight line over 3 years

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

JAL Produce Limited (Registered number: 10522622)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 50,500 1,666 52,166
Disposals - (1,666 ) (1,666 )
At 31 December 2023 50,500 - 50,500
DEPRECIATION
At 1 January 2023 7,259 1,296 8,555
Charge for year 6,486 370 6,856
Eliminated on disposal - (1,666 ) (1,666 )
At 31 December 2023 13,745 - 13,745
NET BOOK VALUE
At 31 December 2023 36,755 - 36,755
At 31 December 2022 43,241 370 43,611

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 442,635 329,013
Other debtors 114,467 137,804
557,102 466,817

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 479,689 378,412
Amounts owed to group undertakings 3,107 108,115
Taxation and social security 75,983 42,493
Other creditors 117,896 152,497
676,675 681,517

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

JAL Produce Limited (Registered number: 10522622)

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

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Iain McMurray ACA (Senior Statutory Auditor)
for and on behalf of Thickbroom Coventry

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
S Difrancesco
Balance outstanding at start of year - -
Amounts advanced 125,832 148,122
Amounts repaid (125,832 ) (148,122 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

10. RELATED PARTY DISCLOSURES

All of the following companies are related by the fact that they either have common directors with JAL Produce Limited or are ultimately controlled by one or more of the directors or family members of JAL Produce Limited.

Financial information on transactions and balances between related parties are as follows:

Stubbins Marketing Limited
JAL Produce Limited is connected with Stubbins Marketing Limited due to common shareholders.

Included in other debtors is a loan balance due from Stubbins Marketing Limited amounting to £58,333 (2022: £108,333). Interest is being charged on this loan at 7.9% per annum and the interest paid on this loan during the period amounted to £13,598 (2022: £13,598). The interest is being calculated on the loan on a straight-line basis.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Salvatore Difrancesco and Mrs Joanna Difrancesco.

12. ULTIMATE PARENT COMPANY

The ultimate parent company is Red Brook Holdings Limited, company number 11040394.

Group accounts can be obtained by request at the registered office:
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP