Company registration number 13074403 (England and Wales)
JAS3 Ltd
Unaudited financial statements
For the year ended 31 March 2024
JAS3 Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JAS3 Ltd
Balance sheet
As at 31 March 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,500
Current assets
Stocks
-
15,000
Debtors
4
1,411,041
785,008
Cash at bank and in hand
38,767
44,589
1,449,808
844,597
Creditors: amounts falling due within one year
5
(1,473,322)
(847,880)
Net current liabilities
(23,514)
(3,283)
Net liabilities
(11,014)
(3,283)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(11,114)
(3,383)
Total equity
(11,014)
(3,283)
JAS3 Ltd
Balance sheet (continued)
As at 31 March 2024
31 March 2024
- 2 -
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 10 October 2024 and are signed on its behalf by:
Mrs A Reade
Mr J A Schofield
Director
Director
Mr S Schofield
Director
Company registration number 13074403 (England and Wales)
JAS3 Ltd
Notes to the financial statements
For the year ended 31 March 2024
- 3 -
1
Accounting policies
Company information
JAS3 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Cheshire, CW5 6PF, Nantwich.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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 and other sales related taxes.
1.4
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.
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:
Plant and equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
JAS3 Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
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 liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
Additions
15,000
At 31 March 2024
15,000
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
2,500
At 31 March 2024
2,500
Carrying amount
At 31 March 2024
12,500
At 31 March 2023
JAS3 Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
20,527
6,250
Other debtors
1,292,766
688,233
Prepayments and accrued income
15,307
1,475
1,328,600
695,958
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
82,441
89,050
Total debtors
1,411,041
785,008
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,682
4,192
Taxation and social security
2,717
Deferred income
1,154
Other creditors
1,466,097
841,097
Accruals and deferred income
2,826
1,437
1,473,322
847,880
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
JAS3 Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
- 6 -
7
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Recharge of goods and services
2024
2023
£
£
Entities with common control
130,370
64,765
Other related parties
14,832
-
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Entities with common control
970,258
111,540
Other related parties
315
21,723