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COMPANY REGISTRATION NUMBER: 07332405
Jaks Bars & Restaurants Ltd
Filleted Unaudited Financial Statements
31 May 2024
Jaks Bars & Restaurants Ltd
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Current assets
Stocks
38,630
28,754
Debtors
5
41,853
112,954
Cash at bank and in hand
393,915
450,589
---------
---------
474,398
592,297
Creditors: amounts falling due within one year
6
498,676
359,039
---------
---------
Net current (liabilities)/assets
( 24,278)
233,258
--------
---------
Total assets less current liabilities
( 24,278)
233,258
--------
---------
Net (liabilities)/assets
( 24,278)
233,258
--------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 24,378)
233,158
--------
---------
Shareholder (deficit)/funds
( 24,278)
233,258
--------
---------
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 income statement has not been delivered.
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 November 2024 , and are signed on behalf of the board by:
Mr V Seferi
Director
Company registration number: 07332405
Jaks Bars & Restaurants 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 and Wales. The address of the registered office is Jubilee House, Townsend Lane, London, NW9 8TZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Disclosure exemptions
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2023: 19 ).
5. Debtors
2024
2023
£
£
Trade debtors
15,675
29,200
Amounts owed by group undertakings and undertakings in which the company has a participating interest
83,754
Other debtors
26,178
--------
---------
41,853
112,954
--------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
102,933
158,048
Amounts owed to group undertakings and undertakings in which the company has a participating interest
226,831
( 33,889)
Corporation tax
89,787
102,227
Social security and other taxes
32,705
91,472
Other creditors
46,420
41,181
---------
---------
498,676
359,039
---------
---------
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Inter Company Jaks Place/Zefi
(226,831)
33,890
( 226,831)
33,889
---------
--------
---------
--------
Mr Seferi is also the director of Jaks Place Ltd and Jaks Holding Ltd.