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Registered number: 14423423
JJ&T LTD
Unaudited Financial Statements
For the Period 17 October 2022 to 30 October 2023
LABAIT PROFESSIONALS LIMITED
Institute of Financial Accountants
Unit 1
17 Castle Street
Chester
England
CH1 2DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14423423
30 October 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 3,227
Investment Properties 5 695,071
698,298
CURRENT ASSETS
Debtors 6 155,701
Cash at bank and in hand 2,011,603
2,167,304
Creditors: Amounts Falling Due Within One Year 7 (11,734 )
NET CURRENT ASSETS (LIABILITIES) 2,155,570
TOTAL ASSETS LESS CURRENT LIABILITIES 2,853,868
Creditors: Amounts Falling Due After More Than One Year 8 (2,872,000 )
NET LIABILITIES (18,132 )
CAPITAL AND RESERVES
Called up share capital 9 1
Profit and Loss Account (18,133 )
SHAREHOLDERS' FUNDS (18,132)
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Page 2
For the period ending 30 October 2023 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 HSUAN-YIN CHEN
Director
11/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JJ&T LTD is a private company, limited by shares, incorporated in England & Wales, registered number 14423423 . The registered office is Apartment 1109 1 Park Drive, London, E14 9GG.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. 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:
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments FRS 102' to all of its financial instrument.
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 liability are offset, with the net amounts present in the financial statements, when there is a legal 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, which include debtors and cash and bank balance, and 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. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instrument are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 17 October 2022 - - -
Additions 310 3,389 3,699
As at 30 October 2023 310 3,389 3,699
Depreciation
As at 17 October 2022 - - -
Provided during the period 42 430 472
As at 30 October 2023 42 430 472
Net Book Value
As at 30 October 2023 268 2,959 3,227
As at 17 October 2022 - - -
5. Investment Property
30 October 2023
£
Fair Value
As at 17 October 2022 -
Additions 695,071
As at 30 October 2023 695,071
6. Debtors
30 October 2023
£
Due within one year
Other debtors 155,701
7. Creditors: Amounts Falling Due Within One Year
30 October 2023
£
Other creditors 11,734
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8. Creditors: Amounts Falling Due After More Than One Year
30 October 2023
£
Other loans 2,618,000
Other creditors 254,000
2,872,000
9. Share Capital
30 October 2023
£
Allotted, Called up and fully paid 1
10. Related Party Transactions
At the start of the accounting year, the opening balance of the directors' loans and other related parties owned by the company was nil.
During the year,  the company borrowed £2,618,000.00 from JAU – DER CHEN and FANG LI CHEN.  the company also borrowed £259,917.00 from the director Hsuan-Yin CHEN.
The closing balance of loans owned by the company at the end of the accounting year is £2,877,917.00.
The loan interest payable was not paid to the borrowers within 12 months of the end of the accounting period in which it accrued,  so the interest was not recorded in this accounting year.
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