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REGISTERED NUMBER: 02370959 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

J Guest Limited

J Guest Limited (Registered number: 02370959)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


J Guest Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: J Guest
Miss H Guest



SECRETARY: Mrs J Guest



REGISTERED OFFICE: Knarsboro House
Bradley Road
Stourbridge
West Midlands
DY8 1XB



REGISTERED NUMBER: 02370959 (England and Wales)



ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: HSBC Bank PLC
114 High Street
Stourbridge
West Midlands
DY8 1DZ

J Guest Limited (Registered number: 02370959)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,760 24,399

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 1,105,243 1,546,903
Cash at bank 168,425 101,811
1,275,668 1,650,714
CREDITORS
Amounts falling due within one year 783,886 1,156,710
NET CURRENT ASSETS 491,782 494,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

507,542

518,403

PROVISIONS FOR LIABILITIES 3,911 3,911
NET ASSETS 503,631 514,492

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 453,631 464,492
SHAREHOLDERS' FUNDS 503,631 514,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J Guest Limited (Registered number: 02370959)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





J Guest - Director


J Guest Limited (Registered number: 02370959)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

J Guest 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.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers during the year excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost is calculated on on a first in first out basis. Net realisable value is based on the estimated selling price less estimated cost of disposal.


J Guest Limited (Registered number: 02370959)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.


J Guest Limited (Registered number: 02370959)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


Contracts, work in progress and turnover recognition
Turnover and attributable profit is recognised on all contracts according to the stage of completion, where the eventual outcome of those contracts can be reliably foreseen. Attributable turnover on such contracts not yet invoiced at the year end is recognised in debtors.

Where the outcome of a contract in progress at the year end cannot be reliably foreseen, the net costs of the contract are included within work in progress after deducting payments received on account.

Where a long term contract is considered to be loss making, the whole of the foreseeable loss is recognised immediately.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

J Guest Limited (Registered number: 02370959)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 157,510
DEPRECIATION
At 1 January 2023 133,111
Charge for year 8,639
At 31 December 2023 141,750
NET BOOK VALUE
At 31 December 2023 15,760
At 31 December 2022 24,399