2023-05-012024-04-302024-04-30false03862618JADE AUTOS 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JADE AUTOS LTD

Registered Number
03862618
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

JADE AUTOS LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

CHANA, Hardeep Singh

Company Secretary

CHANA, Deborah Jane

Registered Address

1 Gemini Court
42a Throwley Way,
Sutton
SM1 4AF

Registered Number

03862618 (England and Wales)
JADE AUTOS LTD
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3359461
359461
Current assets
Stocks4128,54379,592
Debtors521,77822,108
Cash at bank and on hand501
150,371101,701
Creditors amounts falling due within one year6(103,701)(77,189)
Net current assets (liabilities)46,67024,512
Total assets less current liabilities47,02924,973
Net assets47,02924,973
Capital and reserves
Called up share capital11
Profit and loss account47,02824,972
Shareholders' funds47,02924,973
The financial statements were approved and authorised for issue by the Director on 8 October 2024, and are signed on its behalf by:
CHANA, Hardeep Singh
Director
Registered Company No. 03862618
JADE AUTOS LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Vehicles25
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 May 231,1021,1508573,109
At 30 April 241,1021,1508573,109
Depreciation and impairment
At 01 May 239711,1505272,648
Charge for year20-82102
At 30 April 249911,1506092,750
Net book value
At 30 April 24111-248359
At 30 April 23131-330461
4.Stocks

2024

2023

££
Finished goods128,54379,592
Total128,54379,592
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables13,2342,062
Other debtors8,54420,046
Total21,77822,108
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables704-
Bank borrowings and overdrafts13,05213,961
Taxation and social security11,93514,182
Other creditors27,60234,367
Accrued liabilities and deferred income50,40814,679
Total103,70177,189
7.Further information regarding the company's financial position
The company overdraft facility is secured by a directors personal guarantee of £14,000.