40 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,096 2,096 2,096 xbrli:pure xbrli:shares iso4217:GBP 08288954 2023-06-01 2024-05-31 08288954 2024-05-31 08288954 2023-05-31 08288954 2022-06-01 2023-05-31 08288954 2023-05-31 08288954 2022-05-31 08288954 bus:Director1 2023-06-01 2024-05-31 08288954 core:PlantMachinery 2023-06-01 2024-05-31 08288954 core:WithinOneYear 2024-05-31 08288954 core:WithinOneYear 2023-05-31 08288954 core:ShareCapital 2024-05-31 08288954 core:ShareCapital 2023-05-31 08288954 core:RetainedEarningsAccumulatedLosses 2024-05-31 08288954 core:RetainedEarningsAccumulatedLosses 2023-05-31 08288954 core:PlantMachinery 2024-05-31 08288954 bus:SmallEntities 2023-06-01 2024-05-31 08288954 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08288954 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08288954 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08288954 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 08288954
Jaks(Kings Road) Limited
Filleted Unaudited Financial Statements
31 May 2024
Jaks(Kings Road) Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,096
Current assets
Stocks
25,171
22,239
Debtors
6
848,160
491,665
Cash at bank and in hand
41,568
446,129
---------
---------
914,899
960,033
Creditors: amounts falling due within one year
7
467,278
396,534
---------
---------
Net current assets
447,621
563,499
---------
---------
Total assets less current liabilities
449,717
563,499
---------
---------
Net assets
449,717
563,499
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
449,617
563,399
---------
---------
Shareholder funds
449,717
563,499
---------
---------
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 .
Jaks(Kings Road) Limited
Statement of Financial Position (continued)
31 May 2024
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 Seferi
Director
Company registration number: 08288954
Jaks(Kings Road) Limited
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, United Kingdom.
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.
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.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 40 (2023: 35 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 June 2023
Additions
2,096
2,096
-------
-------
At 31 May 2024
2,096
2,096
-------
-------
Depreciation
At 1 June 2023 and 31 May 2024
-------
-------
Carrying amount
At 31 May 2024
2,096
2,096
-------
-------
At 31 May 2023
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
10,352
13,901
Amounts owed by group undertakings and undertakings in which the company has a participating interest
802,603
477,764
Other debtors
35,205
---------
---------
848,160
491,665
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,476
12,413
Trade creditors
101,430
197,369
Amounts owed to group undertakings and undertakings in which the company has a participating interest
237,375
27,968
Corporation tax
19,564
22,111
Social security and other taxes
39,806
79,359
Net Wages
57,749
57,314
Other creditors
2,878
---------
---------
467,278
396,534
---------
---------
8. 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 Mayfair Ltd
802,603
802,603
Inter-Company Jaks Holding Ltd
(237,375)
( 237,375)
---------
----
---------
----
The company was under the control of Mr Valentine Seferi throughout the current and previous year. Mr Valentine Seferi is the managing director and majority shareholder of Jaks Mayfair Limited.