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Registration number: 06931768

White Jays Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

White Jays Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

White Jays Ltd

Company Information

Directors

CB White

J R White

J C White

Registered office

2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

White Jays Ltd

(Registration number: 06931768)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

         

Fixed assets

   

Intangible assets

5

 

388

450

Tangible assets

6

 

413,821

424,032

   

414,209

424,482

Current assets

   

Stocks

7

10,000

 

10,000

Debtors

8

25,002

 

25,000

Cash at bank and in hand

 

27,013

 

48,498

 

62,015

 

83,498

Creditors: Amounts falling due within one year

9

(122,283)

 

(100,447)

Net current liabilities

   

(60,268)

(16,949)

Total assets less current liabilities

   

353,941

407,533

Creditors: Amounts falling due after more than one year

9

 

(507,715)

(562,589)

Net liabilities

   

(153,774)

(155,056)

Capital and reserves

   

Called up share capital

100

 

100

Retained earnings

(153,874)

 

(155,156)

Shareholders' deficit

   

(153,774)

(155,056)

For the financial year ending 31 March 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.

 

White Jays Ltd

(Registration number: 06931768)
Balance Sheet as at 31 March 2024

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.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

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

J C White
Director

 

White Jays Ltd

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

1

General information

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

The address of its registered office is:
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
United Kingdom

These financial statements were authorised for issue by the Board on 30 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.

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:

 

White Jays Ltd

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

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

25% straight line

Furniture and fittings

25% reducing balance

Leasehold property

5% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

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.

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.

 

White Jays Ltd

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

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2023 - 30).

 

White Jays Ltd

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

4

Taxation

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

1,251

1,251

At 31 March 2024

1,251

1,251

Amortisation

At 1 April 2023

801

801

Amortisation charge

62

62

At 31 March 2024

863

863

Carrying amount

At 31 March 2024

388

388

At 31 March 2023

450

450

6

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2023

368,833

118,200

200,172

57,368

22,378

 

At 31 March 2024

368,833

118,200

200,172

57,368

22,378

 

Depreciation

At 1 April 2023

-

79,293

189,626

51,622

22,378

 

Charge for the year

-

5,910

2,637

1,664

-

 

At 31 March 2024

-

85,203

192,263

53,286

22,378

 

Carrying amount

At 31 March 2024

368,833

32,997

7,909

4,082

-

 

At 31 March 2023

368,833

38,907

10,546

5,746

-

 

 

White Jays Ltd

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

Total
£

Cost or valuation

At 1 April 2023

 

766,951

At 31 March 2024

 

766,951

Depreciation

At 1 April 2023

 

342,919

Charge for the year

 

10,211

At 31 March 2024

 

353,130

Carrying amount

At 31 March 2024

 

413,821

At 31 March 2023

 

424,032

Included within the net book value of land and buildings above is £368,833 (2023 - £368,833) in respect of freehold land and buildings and £32,998 (2023 - £38,908) in respect of long leasehold land and buildings.
 

7

Stocks

2024
£

2023
£

Other inventories

10,000

10,000

8

Debtors

Current

2024
£

2023
£

Prepayments

25,002

25,000

 

25,002

25,000

 

White Jays Ltd

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

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11,500

11,500

Trade creditors

 

22,114

26,028

Taxation and social security

 

67,891

37,566

Accruals and deferred income

 

20,778

25,353

 

122,283

100,447

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

507,715

562,589

10

Related party transactions

Included in long term creditors is £413,379 (2023: £454,754) owed to the directors. Loans to the company have no set repayment date and no interest is charged.