Company registration number 11786200 (England and Wales)
JASPERS OF HINCKLEY LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
JASPERS OF HINCKLEY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JASPERS OF HINCKLEY LIMITED
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,963
31,783
Current assets
Stocks
143,769
240,873
Debtors
4
120,137
63,475
Cash at bank and in hand
48,432
31,334
312,338
335,682
Creditors: amounts falling due within one year
5
(298,472)
(353,417)
Net current assets/(liabilities)
13,866
(17,735)
Total assets less current liabilities
38,829
14,048
Creditors: amounts falling due after more than one year
6
(23,758)
(43,088)
Provisions for liabilities
(274)
(651)
Net assets/(liabilities)
14,797
(29,691)
Capital and reserves
Called up share capital
7
300
300
Profit and loss reserves
14,497
(29,991)
Total equity
14,797
(29,691)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JASPERS OF HINCKLEY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2024
05 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 January 2025 and are signed on its behalf by:
R Hancock
Director
Company registration number 11786200 (England and Wales)
JASPERS OF HINCKLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 3 -
1
Accounting policies
Company information
Jaspers of Hinckley Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% net book value
Computers
20% net book value
Motor vehicles
25% net book value
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
1.5
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
JASPERS OF HINCKLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
21
26
JASPERS OF HINCKLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 6 April 2023 and 5 April 2024
77,012
Depreciation and impairment
At 6 April 2023
45,229
Depreciation charged in the year
6,820
At 5 April 2024
52,049
Carrying amount
At 5 April 2024
24,963
At 5 April 2023
31,783
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,391
13,310
Corporation tax recoverable
27,315
8,328
Other debtors
79,431
41,837
120,137
63,475
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
18,974
18,678
Trade creditors
64,506
96,537
Corporation tax
54,497
20,984
Other taxation and social security
37,003
37,925
Other creditors
123,492
179,293
298,472
353,417
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
23,758
43,088
JASPERS OF HINCKLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
100
100
100
100
Ordinary B shares of £1 each
100
100
100
100
Ordinary C shares of £1 each
100
100
100
100
300
300
300
300
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
41,667
9
Directors' transactions
Dividends totalling £65,069 were paid in the year in respect of shares held by the company's directors.
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director
-
14,466
2,559
(19,000)
(1,975)
Director
-
4,545
22,011
-
26,556
Director
-
20,209
29,603
-
49,812
39,220
54,173
(19,000)
74,393
These amounts are unsecured, interest free and repayable on demand.