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J K Agency Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Hornsby Accounts Ltd
Office Suite
6a Market Place
Brigg
North Lincolnshire
DN20 8HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04796472
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 39 53
39 53
CURRENT ASSETS
Debtors 6 1,845 2,989
Cash at bank and in hand 13,433 16,514
15,278 19,503
Creditors: Amounts Falling Due Within One Year 7 (9,443 ) (9,611 )
NET CURRENT ASSETS (LIABILITIES) 5,835 9,892
TOTAL ASSETS LESS CURRENT LIABILITIES 5,874 9,945
NET ASSETS 5,874 9,945
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 5,873 9,944
SHAREHOLDERS' FUNDS 5,874 9,945
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Jayne Woolass
Director
3rd October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
J K Agency Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04796472 . The registered office is 26 High Street, Messingham, Scunthorpe, North Lincolnshire, DN17 3RS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 24,000
As at 31 March 2024 24,000
Amortisation
As at 1 April 2023 24,000
As at 31 March 2024 24,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 1,845 1,050 2,895
As at 31 March 2024 1,845 1,050 2,895
Depreciation
As at 1 April 2023 1,792 1,050 2,842
Provided during the period 14 - 14
As at 31 March 2024 1,806 1,050 2,856
Net Book Value
As at 31 March 2024 39 - 39
As at 1 April 2023 53 - 53
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 97 120
Other debtors 139 418
Director's loan account 1,609 2,451
1,845 2,989
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,473 3,602
Corporation tax 2,449 3,007
VAT 2,191 2,657
Accruals and deferred income 330 345
9,443 9,611
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5