Company registration number 14643994 (England and Wales)
Jack For All Trades Limited
Unaudited financial statements
For the period ended 31 March 2024
Jack For All Trades Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Jack For All Trades Limited
Balance sheet
As at 31 March 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
11,532
Investments
4
1
11,533
Current assets
Stocks
499,460
Debtors
5
77,684
Cash at bank and in hand
46,665
623,809
Creditors: amounts falling due within one year
6
(793,833)
Net current liabilities
(170,024)
Net liabilities
(158,491)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(158,591)
Total equity
(158,491)
For the financial period 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 period 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 S Schofield
Director
Director
Company registration number 14643994 (England and Wales)
Jack For All Trades Limited
Statement of changes in equity
For the period ended 31 March 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 6 February 2023
100
100
Period ended 31 March 2024:
Loss and total comprehensive income
-
(158,591)
(158,591)
Balance at 31 March 2024
100
(158,591)
(158,491)
Jack For All Trades Limited
Notes to the financial statements
For the period ended 31 March 2024
- 3 -
1
Accounting policies
Company information
Jack For All Trades Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF.
1.1
Reporting period
The company was incorporated on 6 February 2023. These are the first financial statements of the company and cover the period from incorporation on 6 February 2023 to 31 March 2024.
1.2
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
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.
1.4
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.
1.5
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.
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 life
Computers
33% straight line life
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.
Jack For All Trades Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.7
Stocks
Stocks are stated at the lower of cost and estimated realisable value.
1.8
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.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
3
Jack For All Trades Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 6 February 2023
Additions
14,072
At 31 March 2024
14,072
Depreciation and impairment
At 6 February 2023
Depreciation charged in the period
2,540
At 31 March 2024
2,540
Carrying amount
At 31 March 2024
11,532
4
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
1
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 6 February 2023
-
Additions
1
At 31 March 2024
1
Carrying amount
At 31 March 2024
1
5
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
52,706
Other debtors
24,978
77,684
Jack For All Trades Limited
Notes to the financial statements (continued)
For the period ended 31 March 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
124,078
Other creditors
669,755
793,833
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and not fully paid
Ordinary shares of £1 each
100
100
The share capital remains unpaid at the period end.
8
Related party transactions
Transactions with related parties
During the period the company entered into the following transactions with related parties:
Purchases
2024
£
Entites with common control
113,871
2024
Amounts due to related parties
£
Entites with common control
575,000
Other related parties
145,354