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Registration number: 08282732

JJS (Hull) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

JJS (Hull) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

JJS (Hull) Limited

Company Information

Directors

G Jagger

T Jagger

Registered office

37 Hartsholme Park
Kingswood
Hull
HU7 3HP

 

JJS (Hull) Limited

(Registration number: 08282732)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

56,937

5,570

Current assets

 

Debtors

5

187,944

191,603

Cash at bank and in hand

 

59,201

12,410

 

247,145

204,013

Creditors: Amounts falling due within one year

6

(162,604)

(294,826)

Net current assets/(liabilities)

 

84,541

(90,813)

Total assets less current liabilities

 

141,478

(85,243)

Creditors: Amounts falling due after more than one year

6

(168,507)

-

Provisions for liabilities

(12,520)

(1,356)

Net liabilities

 

(39,549)

(86,599)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(39,649)

(86,699)

Shareholders' deficit

 

(39,549)

(86,599)

For the financial year ending 30 November 2023 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.

Approved and authorised by the Board on 8 November 2024 and signed on its behalf by:
 

.........................................
G Jagger
Director

 

JJS (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 08282732.

The address of its registered office is:
37 Hartsholme Park
Kingswood
Hull
HU7 3HP

These financial statements were authorised for issue by the Board on 8 November 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The Directors understand that there is doubt regarding the going concern status of the Company due to the insolvent balance sheet position at the year end. The Directors continue to offer thier support to the entity and have confirmed that they will support the entity in repaying debts as they fall due.

On this basis, the directors are satisfied that the accounts can be prepared under the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of shopfitting 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.

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.

 

JJS (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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

Plant and machinery

15% on written down value

Office equipment

15% on written down value

Motor vehicles

25% on written down value

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 the provision of services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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.

 

JJS (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2022 - 2).

 

JJS (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

11,756

1,284

15,800

28,840

Additions

167

489

60,255

60,911

Disposals

(3,378)

-

(15,800)

(19,178)

At 30 November 2023

8,545

1,773

60,255

70,573

Depreciation

At 1 December 2022

7,839

816

14,615

23,270

Charge for the year

369

96

6,592

7,057

Eliminated on disposal

(2,076)

-

(14,615)

(16,691)

At 30 November 2023

6,132

912

6,592

13,636

Carrying amount

At 30 November 2023

2,413

861

53,663

56,937

At 30 November 2022

3,917

468

1,185

5,570

5

Debtors

2023
£

2022
£

Trade debtors

72,047

104,218

Other debtors

115,897

87,385

187,944

191,603

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

45,045

33,614

Trade creditors

 

14,530

31,814

Taxation and social security

 

100,268

102,608

Accruals and deferred income

 

2,761

2,661

Other creditors

 

-

124,129

 

162,604

294,826

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

168,507

-

 

JJS (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

40,977

-

Other borrowings

127,530

-

168,507

-

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

15,705

-

Other borrowings

29,340

33,614

45,045

33,614

Other borrowings relate to unsecured third party lending.

8

Related party transactions

Transactions with Directors

2023

At 1 December 2022
£

Advances to Director
£

Repayments by Director
£

At 30 November 2023
£

G Jagger

Interest free loan and repayable on demand

43,672

83,044

(68,607)

58,109

T Jagger

Interest free loan and repayable on demand

43,713

82,931

(68,856)

57,788

Other transactions with Directors

At the year end the directors owed the company £115,897 (2022: £87,385). The amount is unsecured, interest free, and repayable on demand.