Company registration number 07136009 (England and Wales)
JELLYJAMES PUBLISHING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
JELLYJAMES PUBLISHING LIMITED
COMPANY INFORMATION
Directors
Mrs K K Esmail
Mr K R Esmail
Secretary
Mr K R Esmail
Company number
07136009
Registered office
4 Old Forge Close
Stanmore
Middlesex
HA7 3EB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
NatWest Bank Plc
317 Hale Lane
Edgware
London
HA8 7AX
JELLYJAMES PUBLISHING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
JELLYJAMES PUBLISHING LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JELLYJAMES PUBLISHING LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jellyjames Publishing Limited for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Jellyjames Publishing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jellyjames Publishing Limited and state those matters that we have agreed to state to the board of directors of Jellyjames Publishing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jellyjames Publishing Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Jellyjames Publishing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jellyjames Publishing Limited. You consider that Jellyjames Publishing Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Jellyjames Publishing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
6 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
JELLYJAMES PUBLISHING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,972
6,070
Tangible assets
4
8,391
7,517
10,363
13,587
Current assets
Stocks
10,607
33,185
Debtors
5
489,459
464,500
Cash at bank and in hand
17,204
82,110
517,270
579,795
Creditors: amounts falling due within one year
6
(215,917)
(243,100)
Net current assets
301,353
336,695
Total assets less current liabilities
311,716
350,282
Creditors: amounts falling due after more than one year
7
(12,231)
(22,681)
Net assets
299,485
327,601
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
299,385
327,501
Total equity
299,485
327,601
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JELLYJAMES PUBLISHING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 6 September 2024 and are signed on its behalf by:
Mrs K K Esmail
Director
Company registration number 07136009 (England and Wales)
JELLYJAMES PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Jellyjames Publishing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Old Forge Close, Stanmore, Middlesex, United Kingdom, HA7 3EB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
Five years
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
JELLYJAMES PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computer equipment
33% on cost
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
JELLYJAMES PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
8
3
Intangible fixed assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
22,200
28,305
50,505
Amortisation and impairment
At 1 April 2023
18,008
26,427
44,435
Amortisation charged for the year
2,220
1,878
4,098
At 31 March 2024
20,228
28,305
48,533
Carrying amount
At 31 March 2024
1,972
1,972
At 31 March 2023
4,192
1,878
6,070
JELLYJAMES PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
13,863
21,920
35,783
Additions
6,355
6,355
At 31 March 2024
13,863
28,275
42,138
Depreciation and impairment
At 1 April 2023
9,435
18,831
28,266
Depreciation charged in the year
1,108
4,373
5,481
At 31 March 2024
10,543
23,204
33,747
Carrying amount
At 31 March 2024
3,320
5,071
8,391
At 31 March 2023
4,428
3,089
7,517
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
26,306
40,918
Other debtors
463,153
423,582
489,459
464,500
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
21,261
27,388
Trade creditors
226
6,714
Taxation and social security
48,960
43,838
Other creditors
145,470
165,160
215,917
243,100
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,231
22,681
JELLYJAMES PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank overdrafts
11,057
17,681
Bank loans
22,435
32,388
33,492
50,069
Bank loans are secured by way of a government-backed guarantee.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
45
45
45
45
Ordinary B of £1 each
45
45
45
45
Ordinary C of £1 each
45
45
5
5
Ordinary D of £1 each
45
45
5
5
180
180
100
100
10
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Loan accounts
2.25
-
46,535
1,388
47,923
-
46,535
1,388
47,923
The directors' loan accounts were repaid within nine months of the year end.
11
Ultimate controlling party
The ultimate controlling party is Mr K R Esmail and Mrs K K Esmail.