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REGISTERED NUMBER: 11125258 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

JR BOARD LTD

JR BOARD LTD (REGISTERED NUMBER: 11125258)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


JR BOARD LTD (REGISTERED NUMBER: 11125258)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 930,000 850,000

CURRENT ASSETS
Debtors 6 52,621 36,903
Cash at bank 209,653 21,644
262,274 58,547
CREDITORS
Amounts falling due within one year 7 594,648 578,627
NET CURRENT LIABILITIES (332,374 ) (520,080 )
TOTAL ASSETS LESS CURRENT LIABILITIES 597,626 329,920

CREDITORS
Amounts falling due after more than one
year

8

(686,350

)

(438,305

)

PROVISIONS FOR LIABILITIES (25,350 ) (13,331 )
NET LIABILITIES (114,074 ) (121,716 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (114,174 ) (121,816 )
SHAREHOLDERS' FUNDS (114,074 ) (121,716 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

JR BOARD LTD (REGISTERED NUMBER: 11125258)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





Mr J L Richardson - Director


JR BOARD LTD (REGISTERED NUMBER: 11125258)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

JR Board Ltd is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 11125258

Registered office: 31 Linden Quarter
Cromwell Street
Bristol
BS3 3NP

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The company have made a profit in the current year of £7,642 (2023: loss of £67,799) and had a net deficit as at 31st March 2024 of £114,074 (2023: £121,716).

The directors were owed £398,210 (2023: £408,313) from the company as at the 31st March 2024, and this balance will not be recalled unless it is within the financial constraints of JR Board Limited.

As a result, it is considered appropriate to prepare the financial statements on a going concern basis.

Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


JR BOARD LTD (REGISTERED NUMBER: 11125258)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

JR BOARD LTD (REGISTERED NUMBER: 11125258)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

JR BOARD LTD (REGISTERED NUMBER: 11125258)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial Instruments

Classification

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 850,000
Revaluations 80,000
At 31 March 2024 930,000
NET BOOK VALUE
At 31 March 2024 930,000
At 31 March 2023 850,000

There has been no valuation of investment property by an independent valuer in the financial period. The carrying value at the 31st March 2024 of £930,000 is considered to be a reasonable estimate of the market value at that date.


JR BOARD LTD (REGISTERED NUMBER: 11125258)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,878 1,281
Other debtors 48,174 34,043
Prepayments 1,569 1,579
52,621 36,903

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 468 15
Other creditors 160,300 139,750
Directors' loan accounts 398,210 408,313
Accruals and deferred income 25,670 20,549
594,648 578,627

The loans and borrowings are secured against the investment property, and also personal guarantees provided by the directors.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 15,000 25,000
Other loans (see note 9) 671,350 413,305
686,350 438,305

The loans and borrowings are secured against the investment property, and also personal guarantees provided by the directors.

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 15,000 25,000
Other loans - 2-5 years 671,350 413,305
686,350 438,305

JR BOARD LTD (REGISTERED NUMBER: 11125258)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100