JASR Ltd 10475279 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of a newsagent, off licence and general store. Digita Accounts Production Advanced 6.30.9574.0 true true 10475279 2023-02-01 2024-01-31 10475279 2024-01-31 10475279 bus:OrdinaryShareClass1 2024-01-31 10475279 core:RetainedEarningsAccumulatedLosses 2024-01-31 10475279 core:ShareCapital 2024-01-31 10475279 core:CurrentFinancialInstruments 2024-01-31 10475279 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10475279 core:Non-currentFinancialInstruments 2024-01-31 10475279 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 10475279 core:FurnitureFittingsToolsEquipment 2024-01-31 10475279 core:LandBuildings 2024-01-31 10475279 bus:SmallEntities 2023-02-01 2024-01-31 10475279 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10475279 bus:FullAccounts 2023-02-01 2024-01-31 10475279 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10475279 bus:RegisteredOffice 2023-02-01 2024-01-31 10475279 bus:Director1 2023-02-01 2024-01-31 10475279 bus:Director2 2023-02-01 2024-01-31 10475279 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10475279 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10475279 bus:Agent1 2023-02-01 2024-01-31 10475279 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 10475279 core:LandBuildings 2023-02-01 2024-01-31 10475279 core:LeaseholdImprovements 2023-02-01 2024-01-31 10475279 countries:England 2023-02-01 2024-01-31 10475279 2023-01-31 10475279 core:FurnitureFittingsToolsEquipment 2023-01-31 10475279 core:LandBuildings 2023-01-31 10475279 2022-02-01 2023-01-31 10475279 2023-01-31 10475279 bus:OrdinaryShareClass1 2023-01-31 10475279 core:RetainedEarningsAccumulatedLosses 2023-01-31 10475279 core:ShareCapital 2023-01-31 10475279 core:CurrentFinancialInstruments 2023-01-31 10475279 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10475279 core:Non-currentFinancialInstruments 2023-01-31 10475279 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 10475279 core:FurnitureFittingsToolsEquipment 2023-01-31 10475279 core:LandBuildings 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10475279

JASR Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

JASR Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

JASR Ltd

Company Information

Directors

Mrs J Kooner

Mr S Kooner

Registered office

Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

Accountants

Crossley & Davis Chartered Accountants
Ground Floor Seneca House
Links Point
Amy Johnson Way
Blackpool
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
JASR Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JASR Ltd for the year ended 31 January 2024 as set out on pages 3 to 10 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of JASR Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JASR Ltd and state those matters that we have agreed to state to the Board of Directors of JASR Ltd, 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 JASR Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JASR Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of JASR Ltd. You consider that JASR Ltd 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 accounts of JASR Ltd. 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 accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor Seneca House
Links Point
Amy Johnson Way
Blackpool
FY4 2FF

25 October 2024

 

JASR Ltd

(Registration number: 10475279)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,362

15,876

Current assets

 

Stocks

5

68,344

60,040

Debtors

6

5,149

7,097

Cash at bank and in hand

 

53,449

107,283

 

126,942

174,420

Creditors: Amounts falling due within one year

7

(82,752)

(118,298)

Net current assets

 

44,190

56,122

Total assets less current liabilities

 

59,552

71,998

Creditors: Amounts falling due after more than one year

7

(32,012)

(37,221)

Provisions for liabilities

(2,664)

(3,016)

Net assets

 

24,876

31,761

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

24,776

31,661

Shareholders' funds

 

24,876

31,761

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

JASR Ltd

(Registration number: 10475279)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Mr S Kooner
Director

 

JASR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF
England

These financial statements were authorised for issue by the Board on 25 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

JASR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to leasehold property

straight line over 5 year lease

Fixtures and fittings

20% reducing balance

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.

 

JASR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

JASR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 18).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

56,254

57,086

113,340

Additions

-

3,327

3,327

At 31 January 2024

56,254

60,413

116,667

Depreciation

At 1 February 2023

56,254

41,210

97,464

Charge for the year

-

3,841

3,841

At 31 January 2024

56,254

45,051

101,305

Carrying amount

At 31 January 2024

-

15,362

15,362

At 31 January 2023

-

15,876

15,876

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

68,344

60,040

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,230

1,934

Prepayments

3,919

5,163

 

5,149

7,097

 

JASR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,210

5,210

Trade creditors

 

29,983

38,624

Taxation and social security

 

575

13,237

Accruals and deferred income

 

4,283

6,133

Other creditors

 

42,701

55,094

 

82,752

118,298

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

32,012

37,221

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

JASR Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

32,012

37,221

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,210

5,210

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,536

22,168