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REGISTERED NUMBER: 02986943 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

JADE PALACE LIMITED

JADE PALACE LIMITED (REGISTERED NUMBER: 02986943)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JADE PALACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: C Y Fung
W T Fung





SECRETARY: C Y Fung





REGISTERED OFFICE: 12 Station Court
Station Approach
Wickford
Essex
SS11 7AT





REGISTERED NUMBER: 02986943 (England and Wales)





ACCOUNTANTS: Connah Goldsworthy
Chartered Certified Accountants
12 Station Court
Station Approach
Wickford
Essex
SS11 7AT

JADE PALACE LIMITED (REGISTERED NUMBER: 02986943)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,554 29,089

CURRENT ASSETS
Stocks 5,500 8,000
Debtors 5 425 3,792
Cash at bank and in hand 110,515 90,751
116,440 102,543
CREDITORS
Amounts falling due within one year 6 64,830 63,383
NET CURRENT ASSETS 51,610 39,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,164

68,249

PROVISIONS FOR LIABILITIES 4,665 5,527
NET ASSETS 71,499 62,722

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 71,399 62,622
SHAREHOLDERS' FUNDS 71,499 62,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





C Y Fung - Director


JADE PALACE LIMITED (REGISTERED NUMBER: 02986943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Jade Palace Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on reducing balance
Equipment - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

JADE PALACE LIMITED (REGISTERED NUMBER: 02986943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property Equipment fittings Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 163,967 63,720 64,241 291,928
DEPRECIATION
At 1 February 2023 159,863 48,111 54,865 262,839
Charge for year 2,036 1,561 938 4,535
At 31 January 2024 161,899 49,672 55,803 267,374
NET BOOK VALUE
At 31 January 2024 2,068 14,048 8,438 24,554
At 31 January 2023 4,104 15,609 9,376 29,089

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 425 3,792

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 16,002 20,225
Taxation and social security 42,256 35,586
Other creditors 6,572 7,572
64,830 63,383

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 February 2023 62,622
Profit for the year 72,077
Dividends (63,300 )
At 31 January 2024 71,399

9. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.