Jaylance Limited
Registered number: 04314104
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 721,570 801,570
Cash at bank and in hand 464,397 365,628
1,185,967 1,167,198
Creditors: amounts falling due within one year 4 (12,391) (8,384)
Net current assets 1,173,576 1,158,814
Net assets 1,173,576 1,158,814
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,173,575 1,158,813
Shareholders' funds 1,173,576 1,158,814
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.
G.P. Taylor
Director
Approved by the board on 9 October 2024
Jaylance Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Trade debtors 473,570 571,570
Amounts owed by other businesses 228,000 145,000
Other debtors 20,000 85,000
721,570 801,570
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 11,465 7,577
Other creditors 926 807
12,391 8,384
5 Other information
Jaylance Limited is a private company limited by shares and incorporated in England. Its registered office is:
Holly House
220 New London Road
Chelmsford
CM2 9AE
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