Acorah Software Products - Accounts Production 16.0.110 false true true 29 November 2022 30 November 2021 false 30 November 2022 29 November 2023 29 November 2023 11698749 Mr John Kulukundis J Kulukundis true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11698749 2022-11-29 11698749 2023-11-29 11698749 2022-11-30 2023-11-29 11698749 frs-core:CurrentFinancialInstruments 2023-11-29 11698749 frs-core:Non-currentFinancialInstruments 2023-11-29 11698749 frs-core:FurnitureFittings 2023-11-29 11698749 frs-core:FurnitureFittings 2022-11-30 2023-11-29 11698749 frs-core:FurnitureFittings 2022-11-29 11698749 frs-core:PlantMachinery 2023-11-29 11698749 frs-core:PlantMachinery 2022-11-30 2023-11-29 11698749 frs-core:PlantMachinery 2022-11-29 11698749 frs-core:ShareCapital 2023-11-29 11698749 frs-core:RetainedEarningsAccumulatedLosses 2023-11-29 11698749 frs-bus:PrivateLimitedCompanyLtd 2022-11-30 2023-11-29 11698749 frs-bus:FilletedAccounts 2022-11-30 2023-11-29 11698749 frs-bus:SmallEntities 2022-11-30 2023-11-29 11698749 frs-bus:AuditExempt-NoAccountantsReport 2022-11-30 2023-11-29 11698749 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-30 2023-11-29 11698749 1 2022-11-30 2023-11-29 11698749 frs-bus:Director1 2022-11-30 2023-11-29 11698749 frs-countries:EnglandWales 2022-11-30 2023-11-29 11698749 2021-11-29 11698749 2022-11-29 11698749 2021-11-30 2022-11-29 11698749 frs-core:CurrentFinancialInstruments 2022-11-29 11698749 frs-core:Non-currentFinancialInstruments 2022-11-29 11698749 frs-core:ShareCapital 2022-11-29 11698749 frs-core:RetainedEarningsAccumulatedLosses 2022-11-29
Registered number: 11698749
Janus Jewels Limited
Unaudited Financial Statements
For The Year Ended 29 November 2023
Desaur and Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11698749
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 110 425
110 425
CURRENT ASSETS
Stocks 5 228,823 252,900
Debtors 6 2,632 1,824
Cash at bank and in hand 12,272 21,073
243,727 275,797
Creditors: Amounts Falling Due Within One Year 7 (426,209 ) (427,678 )
NET CURRENT ASSETS (LIABILITIES) (182,482 ) (151,881 )
TOTAL ASSETS LESS CURRENT LIABILITIES (182,372 ) (151,456 )
Creditors: Amounts Falling Due After More Than One Year 8 (19,062 ) (28,333 )
NET LIABILITIES (201,434 ) (179,789 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (201,534 ) (179,889 )
SHAREHOLDERS' FUNDS (201,434) (179,789)
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For the year ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr John Kulukundis
Director
13/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Janus Jewels Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11698749 . The registered office is 17 Station Road, Sunbury-on-Thames, TW16 6SB.
The principal activity of the cokpany during the year was that of buying and selling of art and collecttibles.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The Company is in a net liability position of £201,434 (2022: £179,789) as a result of amounts owed to the Director and group undertakings. The director of the company has confirmed the the amount due to the Director and group undertakings will only be repaid once the company has sufficient financial resources to do so.
The Director is continuously reviewing their plans and forecasts and believes that the going concern basis is appropriate in the short term. However there is a risk that the Company could require further funding or support in order to secure its trading position. Without this, there may be considered to be a potential material uncertainty regarding the Company's independent ability to continue as a going concern. The Director confidently believes that with continued support, as the markets recover, the issue is mitigated.
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. This is usually at the point that the customer has signed for the delivery of the goods.
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 3 years straight-line
Fixtures & Fittings 3 years straight-line
2.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 year was: 1 (2022: )
1 -
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 30 November 2022 8,441 1,938 10,379
As at 29 November 2023 8,441 1,938 10,379
Depreciation
As at 30 November 2022 8,441 1,513 9,954
Provided during the period - 315 315
As at 29 November 2023 8,441 1,828 10,269
Net Book Value
As at 29 November 2023 - 110 110
As at 30 November 2022 - 425 425
5. Stocks
2023 2022
£ £
Finished goods 228,823 252,900
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 2,632 1,824
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,191 -
Bank loans and overdrafts 10,035 9,980
Amounts owed to group undertakings 339,917 361,568
Other creditors 73,066 56,130
426,209 427,678
Amount owed to group undertakings are unsecured, interest free and repayable on demand.
Inluded in creditors due within one year is £10,035.00 (2022: £9,980.00) relating to a loan which has been guranteed by the Government.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 19,062 28,333
Included in creditors due after more than one year is £19,062.00 (2022: £28,333.00) relating to a loan which has been guaranteed by the Government.
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The Company has taken the available exemption under FRS 102 Section 1A to not to disclose related party transactions with other wholly owned group
companies. Details of the creditor balances held with group companies can be found in note 7.
During the year J Kulukundis, the Company's director advanced £26,934.00 (2022: £19,575.00) to the Company. The director also charged the business £nil
(2022: £20,400.00) and was reimbursed £5,381.00 (2022: £21,046.00). During the year the Company sold items to the director for £7,315.00 (2022:
£10,574.00). The items were sold at the value of the lower of cost and net realisable value. The Company also purchased items from the director of £5,794.00.
At the balance Sheet date £63,564.00 (2022: £43,530.00) was owed by Janus Arts Limited to the director. This balance is interest free and repayable on demand.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Janus Arts Limied . Janus Arts Limied was incorporated in England and Wales (registration number 11695666). The ultimate controlling party is J Kulukundis by virtue of his 100% shareholding in Janus Arts Limited.
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