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Registered number: 11857594
The Jacket Bar Ltd
Unaudited Financial Statements
For the Period 1 April 2023 to 5 July 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 11857594
5 July 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 1,645
- 1,645
CURRENT ASSETS
Stocks 5 - 2,919
Cash at bank and in hand 21,641 1,662
21,641 4,581
Creditors: Amounts Falling Due Within One Year 6 (44,647 ) (44,736 )
NET CURRENT ASSETS (LIABILITIES) (23,006 ) (40,155 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,006 ) (38,510 )
NET LIABILITIES (23,006 ) (38,510 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement (23,106 ) (38,610 )
SHAREHOLDERS' FUNDS (23,006) (38,510)
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Page 2
For the period ending 5 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs Diane Said
Director
25 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Jacket Bar Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11857594 . The registered office is C/O Child & Child, 21 Grosvenor Place, London, SW1X 7HN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Going Concern Disclosure
The directors believe that the going concern basis is not appropriate as they intend to place the company into liquidation due to unfavourable trading conditions.
2.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Fixtures & Fittings 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 1,699 674 2,373
Disposals (1,699 ) (674 ) (2,373 )
As at 5 July 2024 - - -
Depreciation
As at 1 April 2023 612 116 728
Disposals (612 ) (116 ) (728 )
As at 5 July 2024 - - -
Net Book Value
As at 5 July 2024 - - -
As at 1 April 2023 1,087 558 1,645
5. Stocks
5 July 2024 31 March 2023
£ £
Stock - 2,919
6. Creditors: Amounts Falling Due Within One Year
5 July 2024 31 March 2023
£ £
Trade creditors 2,256 87
Amounts owed to participating interests 42,391 -
Other creditors - 44,649
44,647 44,736
7. Share Capital
5 July 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4