Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-3015false2022-07-01No description of principal activity15falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12075110 2022-07-01 2023-06-30 12075110 2021-07-01 2022-06-30 12075110 2023-06-30 12075110 2022-06-30 12075110 c:Director1 2022-07-01 2023-06-30 12075110 c:Director2 2022-07-01 2023-06-30 12075110 c:Director3 2022-07-01 2023-06-30 12075110 c:Director4 2022-07-01 2023-06-30 12075110 c:RegisteredOffice 2022-07-01 2023-06-30 12075110 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 12075110 d:Buildings d:LongLeaseholdAssets 2023-06-30 12075110 d:Buildings d:LongLeaseholdAssets 2022-06-30 12075110 d:PlantMachinery 2022-07-01 2023-06-30 12075110 d:PlantMachinery 2023-06-30 12075110 d:PlantMachinery 2022-06-30 12075110 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12075110 d:FurnitureFittings 2022-07-01 2023-06-30 12075110 d:FurnitureFittings 2023-06-30 12075110 d:FurnitureFittings 2022-06-30 12075110 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12075110 d:ComputerEquipment 2022-07-01 2023-06-30 12075110 d:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 12075110 d:OtherPropertyPlantEquipment 2023-06-30 12075110 d:OtherPropertyPlantEquipment 2022-06-30 12075110 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12075110 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12075110 d:Goodwill 2022-07-01 2023-06-30 12075110 d:Goodwill 2023-06-30 12075110 d:Goodwill 2022-06-30 12075110 d:ComputerSoftware 2023-06-30 12075110 d:ComputerSoftware 2022-06-30 12075110 d:CurrentFinancialInstruments 2023-06-30 12075110 d:CurrentFinancialInstruments 2022-06-30 12075110 d:Non-currentFinancialInstruments 2023-06-30 12075110 d:Non-currentFinancialInstruments 2022-06-30 12075110 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12075110 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 12075110 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 12075110 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 12075110 d:ShareCapital 2023-06-30 12075110 d:ShareCapital 2022-06-30 12075110 d:OtherMiscellaneousReserve 2023-06-30 12075110 d:OtherMiscellaneousReserve 2022-06-30 12075110 d:RetainedEarningsAccumulatedLosses 2023-06-30 12075110 d:RetainedEarningsAccumulatedLosses 2022-06-30 12075110 c:FRS102 2022-07-01 2023-06-30 12075110 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 12075110 c:FullAccounts 2022-07-01 2023-06-30 12075110 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 12075110 d:Goodwill d:OwnedIntangibleAssets 2022-07-01 2023-06-30 12075110 d:ComputerSoftware d:OwnedIntangibleAssets 2022-07-01 2023-06-30 12075110 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Company registration number: 12075110







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023


JSNC LIMITED






































img3768.png                        

 


JSNC LIMITED
 


 
COMPANY INFORMATION


Directors
H Y Kwong 
P J Kwong 
W Y A Kwong 
J Sawyer 




Registered number
12075110



Registered office
Magna House 2nd Floor
18-32 London Road

Staines

Surrey

TW18 4BP




Accountants
Menzies LLP
Chartered Accountants

Magna House 2nd Floor

18-32 London Road

Staines

Surrey

TW18 4BP





 


JSNC LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8


 


JSNC LIMITED
REGISTERED NUMBER:12075110



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
185,634
217,240

Tangible assets
 5 
40,457
56,577

  
226,091
273,817

Current assets
  

Stocks
  
90,700
37,300

Debtors: amounts falling due within one year
 6 
175,103
443,210

Cash at bank and in hand
  
3,546
18,519

  
269,349
499,029

Creditors: amounts falling due within one year
 7 
(503,055)
(1,003,392)

Net current liabilities
  
 
 
(233,706)
 
 
(504,363)

Total assets less current liabilities
  
(7,615)
(230,546)

Creditors: amounts falling due after more than one year
 8 
(1,598,538)
(670,717)

  

Net liabilities
  
(1,606,153)
(901,263)


Capital and reserves
  

Called up share capital 
  
300,000
300,000

Other reserves
  
296,750
296,750

Profit and loss account
  
(2,202,903)
(1,498,013)

  
(1,606,153)
(901,263)


Page 1

 


JSNC LIMITED
REGISTERED NUMBER:12075110


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




H Y Kwong
Director

Date: 13 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


JSNC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

JSNC Limited is a private company limited by shares and incorporated in England & Wales. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date, the company had net liabilites of £1,606,153  (2022: £901,263). The company has the ongoing support from its directors and an associated company which enables the company to meet creditors as they fall due. Accordingly, the financial statements have been prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoices. Turnover in respect of long term contracts for on-going services is recognised by referemce to the stage of completion.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 


JSNC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 


JSNC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both a reducing balance and straight-line basis.

Depreciation is provided on the following basis:

Leasehold Improvement
-
over 5 years
Fixtures and fittings
-
25% redecing balance
Plant and machinery
-
25% reducing balance
Tooling
-
7 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 5

 


JSNC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 15 (2022-15).


4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 July 2022
24,001
309,390
333,391



At 30 June 2023

24,001
309,390
333,391



Amortisation


At 1 July 2022
23,334
92,817
116,151


Charge for the year on owned assets
667
30,939
31,606



At 30 June 2023

24,001
123,756
147,757



Net book value



At 30 June 2023
-
185,634
185,634



At 30 June 2022
667
216,573
217,240



Page 6

 


JSNC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Leasehold improvement
Plant and machinery
Fixtures and fittings
Tooling
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
52,456
10,779
281
31,278
94,794


Additions
-
497
-
216
713



At 30 June 2023

52,456
11,276
281
31,494
95,507



Depreciation


At 1 July 2022
20,982
3,989
12
13,234
38,217


Charge for the year on owned assets
10,492
1,775
67
4,499
16,833



At 30 June 2023

31,474
5,764
79
17,733
55,050



Net book value



At 30 June 2023
20,982
5,512
202
13,761
40,457



At 30 June 2022
31,474
6,790
269
18,044
56,577


6.


Debtors

2023
2022
£
£


Trade debtors
73,234
101,731

Other debtors
76,212
313,104

Prepayments and accrued income
25,657
28,375

175,103
443,210



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
134,316
778,624

Other taxation and social security
288,234
117,379

Other creditors
13,575
6,713

Accruals and deferred income
66,930
100,676

503,055
1,003,392


Page 7

 


JSNC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
1,598,538
670,717

1,598,538
670,717


 
Page 8