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Company registration number:
03244043
JGL Relocation & Management Services Ltd.
Unaudited filleted financial statements
31 May 2024
JGL Relocation & Management Services Ltd.
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
JGL Relocation & Management Services Ltd.
Directors and other information
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Directors |
Mr J G Lever |
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Mr B W P Lever |
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Mrs C E J Mulligan |
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Mrs D C Lever |
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Mrs E Street |
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Secretary |
Mrs D C Lever |
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Company number |
03244043 |
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Registered office |
10 Henry Street |
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Lytham St Annes |
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Lancashire |
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FY8 5LE |
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Accountants |
Turner and Brown Ltd |
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105 Garstang Road |
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Preston |
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Lancs |
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PR1 1LD |
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JGL Relocation & Management Services Ltd.
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of JGL Relocation & Management Services Ltd.
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JGL Relocation & Management Services Ltd. for the year ended 31 May 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the board of directors of JGL Relocation & Management Services Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of JGL Relocation & Management Services Ltd. and state those matters that we have agreed to state to the board of directors of JGL Relocation & Management Services Ltd. as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JGL Relocation & Management Services Ltd. and its board of directors as a body for our work or for this report.
It is your duty to ensure that JGL Relocation & Management Services Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JGL Relocation & Management Services Ltd.. You consider that JGL Relocation & Management Services Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of JGL Relocation & Management Services Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Turner and Brown Ltd
Chartered Accountants
105 Garstang Road
Preston
Lancs
PR1 1LD
JGL Relocation & Management Services Ltd.
Statement of financial position
31 May 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
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5 |
4,530 |
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8,529 |
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Cash at bank and in hand |
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50,116 |
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29,930 |
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_______ |
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_______ |
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54,646 |
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38,459 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
10,910) |
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(
4,655) |
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_______ |
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_______ |
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Net current assets |
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43,736 |
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33,804 |
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_______ |
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_______ |
Total assets less current liabilities |
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43,736 |
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33,804 |
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_______ |
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_______ |
Net assets |
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43,736 |
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33,804 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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43,636 |
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33,704 |
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_______ |
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_______ |
Shareholders funds |
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43,736 |
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33,804 |
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_______ |
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_______ |
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For the year ending 31 May 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 financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
08 November 2024
, and are signed on behalf of the board by:
Mrs C E J Mulligan
Mr B W P Lever
Director
Director
Company registration number:
03244043
JGL Relocation & Management Services Ltd.
Notes to the financial statements
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 10 Henry Street, Lytham St Annes, Lancashire, FY8 5LE.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of services provided net of VAT and any applicable discounts. Revenue is recognised at the point the company becomes legally entitled to receive payment for the services provided. This is when the services are physically completed by the company.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment |
- |
Fully Depreciated |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2023:
5
).
5.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
|
4,050 |
- |
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Amounts owed by group undertakings |
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- |
2,467 |
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Other debtors |
|
480 |
6,062 |
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_______ |
_______ |
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4,530 |
8,529 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
|
- |
332 |
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Amounts owed to group undertakings |
|
3,913 |
- |
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Social security and other taxes |
|
5,346 |
4,323 |
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Other creditors |
|
1,651 |
- |
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_______ |
_______ |
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10,910 |
4,655 |
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_______ |
_______ |
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7.
Related party transactions
At commencement of the period the company had a debit balance with its parent company of £2,467. During the period the parent company incurred costs on behalf of the company totalling £3,147 and paid monies of £25,567 to the parent company. The parent company also charged management fees of £28,800 including VAT. Consequently the company had a credit balance of £3,913 owing to the parent company at the reporting date. This balance is interest free and repayable on demand.
8.
Controlling party
The company is controlled by JGL Operations Limited, a company incorporated in England and Wales with registration number 07055628.