Registered number
SC551225
J S K Retail (Glw) Ltd
Filleted Accounts
31 December 2023
J S K Retail (Glw) Ltd
Registered number: SC551225
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 25,000 25,000
Tangible assets 4 180,396 193,424
Investments 5 60,000 60,000
265,396 278,424
Current assets
Stocks 207,741 144,457
Debtors 6 171,383 29,966
Cash at bank and in hand 4,643 6,009
383,767 180,432
Creditors: amounts falling due within one year 7 (131,433) (98,333)
Net current assets 252,334 82,099
Total assets less current liabilities 517,730 360,523
Creditors: amounts falling due after more than one year 8 (462,158) (309,322)
Net assets 55,572 51,201
Capital and reserves
Called up share capital 100 100
Profit and loss account 55,472 51,101
Shareholders' funds 55,572 51,201
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jaspreet Singh
Director
Approved by the board on 26 September 2024
J S K Retail (Glw) Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle 10% reducing balance
Fixtures, fittings, tools and equipment 10% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 24 24
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 25,000
At 31 December 2023 25,000
Net book value
At 31 December 2023 25,000
At 31 December 2022 25,000
4 Tangible fixed assets
Fixture & fittings Motor vehicles Total
£ £ £
Cost
At 1 January 2023 199,298 37,947 237,245
Additions 7,016 - 7,016
At 31 December 2023 206,314 37,947 244,261
Depreciation
At 1 January 2023 43,501 320 43,821
Charge for the year 16,281 3,763 20,044
At 31 December 2023 59,782 4,083 63,865
Net book value
At 31 December 2023 146,532 33,864 180,396
At 31 December 2022 155,797 37,627 193,424
5 Investments
Other
investments
£
Cost
At 1 January 2023 60,000
At 31 December 2023 60,000
6 Debtors 2023 2022
£ £
Loan receivable - 25,000
Other debtors 171,383 4,966
171,383 29,966
7 Creditors: amounts falling due within one year 2023 2022
£ £
Visa accounts 36,059 14,676
Trade creditors 45,553 21,926
Taxation and social security costs - 1,616
Other creditors 49,821 60,115
131,433 98,333
8 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 34,688 63,814
Energy savings loan 11,403 13,277
Bounce back loan 24,917 34,802
Other creditors 391,150 197,429
462,158 309,322
J S K Retail (Glw) Ltd SC551225 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Jaspreet Singh No description of principal activity SC551225 2022-01-01 2022-12-31 SC551225 core:WithinOneYear 2022-12-31 SC551225 core:AfterOneYear 2022-12-31 SC551225 core:ShareCapital 2022-12-31 SC551225 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC551225 2023-01-01 2023-12-31 SC551225 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC551225 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC551225 bus:Director40 2023-01-01 2023-12-31 SC551225 1 2023-01-01 2023-12-31 SC551225 2 2023-01-01 2023-12-31 SC551225 core:PlantMachinery 2023-01-01 2023-12-31 SC551225 core:Vehicles 2023-01-01 2023-12-31 SC551225 bus:FRS102 2023-01-01 2023-12-31 SC551225 bus:FilletedAccounts 2023-01-01 2023-12-31 SC551225 2023-12-31 SC551225 core:WithinOneYear 2023-12-31 SC551225 core:AfterOneYear 2023-12-31 SC551225 core:ShareCapital 2023-12-31 SC551225 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC551225 core:Goodwill 2023-12-31 SC551225 core:PlantMachinery 2023-12-31 SC551225 core:Vehicles 2023-12-31 SC551225 2022-12-31 SC551225 core:Goodwill 2022-12-31 SC551225 core:PlantMachinery 2022-12-31 SC551225 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure