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REGISTERED NUMBER: 12567636 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Jennifer Young Limited

Jennifer Young Limited (Registered number: 12567636)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Jennifer Young Limited (Registered number: 12567636)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Other investments 4 7,235 20,616
Tangible assets 5 34,563 40,982
41,798 61,598

CURRENT ASSETS
Stocks 40,057 54,965
Debtors 6 27,906 35,861
Cash at bank 66,592 110,436
134,555 201,262
CREDITORS
Amounts falling due within one year 7 25,780 37,000
NET CURRENT ASSETS 108,775 164,262
TOTAL ASSETS LESS CURRENT LIABILITIES 150,573 225,860

CAPITAL AND RESERVES
Called up share capital 511,498 511,498
Share premium 388,603 388,603
Retained earnings (749,528 ) (674,241 )
SHAREHOLDERS' FUNDS 150,573 225,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





Mr M R Young - Director


Jennifer Young Limited (Registered number: 12567636)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Jennifer Young Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12567636

Registered office: Church School
Woore Road
Madeley
Crewe
Cheshire
CW3 9PH

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Promotional assets are being amortised evenly over their estimated useful life of three years.

Other investments is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Jennifer Young Limited (Registered number: 12567636)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 11 ) .

4. OTHER INVESTMENTS
Promotional Other
assets investments Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 14,656 65,952 80,608
AMORTISATION
At 1 March 2023 6,536 53,456 59,992
Amortisation for year 4,885 8,496 13,381
At 29 February 2024 11,421 61,952 73,373
NET BOOK VALUE
At 29 February 2024 3,235 4,000 7,235
At 28 February 2023 8,120 12,496 20,616

Jennifer Young Limited (Registered number: 12567636)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 25,168 13,299 11,092 9,989 59,548
Additions - 64 58 - 122
At 29 February 2024 25,168 13,363 11,150 9,989 59,670
DEPRECIATION
At 1 March 2023 5,436 4,605 3,090 5,435 18,566
Charge for year 2,516 1,313 1,209 1,503 6,541
At 29 February 2024 7,952 5,918 4,299 6,938 25,107
NET BOOK VALUE
At 29 February 2024 17,216 7,445 6,851 3,051 34,563
At 28 February 2023 19,732 8,694 8,002 4,554 40,982

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,720 32,509
Other debtors 4,186 3,352
27,906 35,861

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,258 25,935
Taxation and social security 17,557 4,270
Other creditors 3,965 6,795
25,780 37,000

8. OTHER FINANCIAL COMMITMENTS

The company has other financial commitments of £9,000, relating to a lease ending in August 2024.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Ms J M Barnwell
Balance outstanding at start of year 1,978 (495 )
Amounts advanced 197 2,473
Amounts repaid (1,862 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 313 1,978