Registered number
SC420726
J & JAI LIMITED
110-112 Drip Road
Stirling
Filleted Accounts
for the year ended 29 February 2024
Yousaf & Co Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: J053/SA
J & JAI LIMITED
Registered number: SC420726
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 94,322 86,382
Investments 4 81,580 81,580
175,902 167,962
Current assets
Stocks 39,369 37,339
Debtors 5 3,236 1,350
Cash at bank and in hand 55,457 27,616
98,062 66,305
Creditors: amounts falling due within one year 6 (35,895) (38,795)
Net current assets 62,167 27,510
Total assets less current liabilities 238,069 195,472
Creditors: amounts falling due after more than one year 7 (28,780) (34,488)
Net assets 209,289 160,984
Capital and reserves
Called up share capital 100 100
Profit and loss account 209,189 160,884
Shareholders' funds 209,289 160,984
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Satbir Kaur Samra
Director
Approved by the board on 26 August 2024
J & JAI LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, motor vehicles 10% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Fixtures & fittings Motor vehicles Total
£ £ £
Cost
At 1 March 2023 111,239 - 111,239
Additions 7,441 10,979 18,420
At 29 February 2024 118,680 10,979 129,659
Depreciation
At 1 March 2023 24,857 - 24,857
Charge for the year 9,382 1,098 10,480
At 29 February 2024 34,239 1,098 35,337
Net book value
At 29 February 2024 84,441 9,881 94,322
At 28 February 2023 86,382 - 86,382
4 Investments
Other
investments
£
Cost
At 1 March 2023 81,580
At 29 February 2024 81,580
5 Debtors 2024 2023
£ £
Sales 2,074 1,350
Paypoint ATM 1,162 -
3,236 1,350
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,050 21,954
Corporation Tax 15,320 10,123
Other creditors 10,525 6,718
35,895 38,795
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,167 34,167
Directors loan account 4,613 321
28,780 34,488
J & JAI LIMITED SC420726 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 Mrs Satbir Kaur Samra No description of principal activity SC420726 2022-03-01 2023-02-28 SC420726 core:WithinOneYear 2023-02-28 SC420726 core:AfterOneYear 2023-02-28 SC420726 core:ShareCapital 2023-02-28 SC420726 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC420726 2023-03-01 2024-02-29 SC420726 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC420726 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC420726 bus:Director40 2023-03-01 2024-02-29 SC420726 1 2023-03-01 2024-02-29 SC420726 2 2023-03-01 2024-02-29 SC420726 core:PlantMachinery 2023-03-01 2024-02-29 SC420726 core:Vehicles 2023-03-01 2024-02-29 SC420726 bus:FRS102 2023-03-01 2024-02-29 SC420726 bus:FilletedAccounts 2023-03-01 2024-02-29 SC420726 2024-02-29 SC420726 core:WithinOneYear 2024-02-29 SC420726 core:AfterOneYear 2024-02-29 SC420726 core:ShareCapital 2024-02-29 SC420726 core:RetainedEarningsAccumulatedLosses 2024-02-29 SC420726 core:PlantMachinery 2024-02-29 SC420726 core:Vehicles 2024-02-29 SC420726 2023-02-28 SC420726 core:PlantMachinery 2023-02-28 SC420726 core:Vehicles 2023-02-28 iso4217:GBP xbrli:pure