JAN Digital Ltd
Registered number: 08061219
Statement of Financial Position
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,711 3,021
Current assets
Debtors 4 8,095 10,200
Cash at bank and in hand 37,661 62,862
45,756 73,062
Creditors: amounts falling due within one year 5 (10,627) (16,125)
Net current assets 35,129 56,937
Total assets less current liabilities 37,840 59,958
Provisions for liabilities (515) (574)
Net assets 37,325 59,384
Capital and reserves
Called up share capital 100 100
Profit and loss account 37,225 59,284
Shareholders' funds 37,325 59,384
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J A Newell
Director
Approved by the board on 31 October 2024
JAN Digital Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 5,690
Additions 702
Disposals (599)
At 31 May 2024 5,793
Depreciation
At 1 June 2023 2,669
Charge for the year 904
On disposals (491)
At 31 May 2024 3,082
Net book value
At 31 May 2024 2,711
At 31 May 2023 3,021
4 Debtors 2024 2023
£ £
Trade debtors 6,000 10,200
Other debtors 2,095 -
8,095 10,200
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 985 940
Corporation tax 4,508 7,755
Other taxes and social security costs 2,992 6,072
Other creditors 2,142 1,358
10,627 16,125
6 Other information
JAN Digital Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Abbots Close
Guildford
Surrey
GU2 7RW
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