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Registration number: 04355657

JBL Furniture Interiors and Design Limited

Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 28 February 2024

 

JBL Furniture Interiors and Design Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

JBL Furniture Interiors and Design Limited

Company Information

Directors

Mr Bahader Chagger

Mrs Jacqueline Annette Chagger

Mr Adam Chagger

Robert Stewart

Company secretary

Mrs Jacqueline Annette Chagger

Registered office

Verna House
9 Bicester Road
Aylesbury
Buckinghamshire
HP19 9AG

Accountants

Evolution Accountancy Limited
Verna House
9 Bicester Road
Aylesbury
Buckinghamshire
HP19 9AG

 

JBL Furniture Interiors and Design Limited

(Registration number: 04355657)
Balance Sheet as at 28 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

213,067

267,467

Tangible assets

5

371,131

361,536

 

584,198

629,003

Current assets

 

Stocks

424,360

566,840

Debtors

6

1,024,337

1,397,339

Cash at bank and in hand

 

420,298

2,246

 

1,868,995

1,966,425

Creditors: Amounts falling due within one year

7

(1,256,933)

(1,466,000)

Net current assets

 

612,062

500,425

Total assets less current liabilities

 

1,196,260

1,129,428

Creditors: Amounts falling due after more than one year

7

(51,875)

(81,207)

Net assets

 

1,144,385

1,048,221

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,144,285

1,048,121

Shareholders' funds

 

1,144,385

1,048,221

For the financial period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

 

JBL Furniture Interiors and Design Limited

(Registration number: 04355657)
Balance Sheet as at 28 February 2024

.........................................
Mr Bahader Chagger
Director

 

JBL Furniture Interiors and Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Verna House
9 Bicester Road
Aylesbury
Buckinghamshire
HP19 9AG
United Kingdom

These financial statements were authorised for issue by the Board on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

JBL Furniture Interiors and Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

4% Written down value method

Furniture and fixtures

25% Written down value method

Motor vehicles

25% Written down value method

Plant & Machinery

25% Written down value method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% Straight line method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

JBL Furniture Interiors and Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 31 (2023 - 26).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

1,088,000

1,088,000

At 28 February 2024

1,088,000

1,088,000

Amortisation

At 1 March 2023

820,533

820,533

Amortisation charge

54,400

54,400

At 28 February 2024

874,933

874,933

Carrying amount

At 28 February 2024

213,067

213,067

At 28 February 2023

267,467

267,467

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 March 2023

181,923

110,340

562,892

67,875

Additions

-

-

37,899

24,995

At 28 February 2024

181,923

110,340

600,791

92,870

Depreciation

At 1 March 2023

1,772

71,731

428,554

59,437

Charge for the period

1,082

9,652

39,934

2,631

At 28 February 2024

2,854

81,383

468,488

62,068

Carrying amount

At 28 February 2024

179,069

28,957

132,303

30,802

At 28 February 2023

180,151

38,609

134,338

8,438

 

JBL Furniture Interiors and Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Total
£

Cost or valuation

At 1 March 2023

923,030

Additions

62,894

At 28 February 2024

985,924

Depreciation

At 1 March 2023

561,494

Charge for the period

53,299

At 28 February 2024

614,793

Carrying amount

At 28 February 2024

371,131

At 28 February 2023

361,536

Included within the net book value of land and buildings above is £179,069 (2023 - £180,151) in respect of freehold land and buildings.
 

 

JBL Furniture Interiors and Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

445,709

865,212

Prepayments

20,322

4,823

Other debtors

558,306

527,304

 

1,024,337

1,397,339

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

26,252

103,366

Trade creditors

 

120,848

429,015

Taxation and social security

 

99,937

133,037

Accruals and deferred income

 

3,800

6,000

Other creditors

 

1,006,096

794,582

 

1,256,933

1,466,000

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

51,875

81,207

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 shares of £1 each

100

100

100

100

       
 

JBL Furniture Interiors and Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

51,875

51,875

Hire purchase contracts

-

29,332

51,875

81,207

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

74,034

Hire purchase contracts

26,252

29,332

26,252

103,366

10

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

At 28 February 2024
£

Mr Bahader Chagger

Loan to the company

742,660

506,870

Mrs Jacqueline Annette Chagger

Loan to the company

33,821

33,821