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REGISTERED NUMBER: 08474194 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

JSR SHOWROOMS LTD

JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JSR SHOWROOMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J Rogers
J Spry





REGISTERED OFFICE: Westcountry Tile Centre
Wilson Way
Pool
Redruth
Cornwall
TR15 3RX





REGISTERED NUMBER: 08474194 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)

BALANCE SHEET
30 APRIL 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 51,000 59,500
Tangible assets 5 623,932 581,617
674,932 641,117

CURRENT ASSETS
Stocks 239,500 187,000
Debtors 6 369,265 324,587
Cash at bank and in hand 257,598 230,550
866,363 742,137
CREDITORS
Amounts falling due within one year 7 658,047 606,019
NET CURRENT ASSETS 208,316 136,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

883,248

777,235

CREDITORS
Amounts falling due after more than one
year

8

(418,061

)

(430,357

)

PROVISIONS FOR LIABILITIES (43,997 ) (33,824 )
NET ASSETS 421,190 313,054

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 421,040 312,904
421,190 313,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)

BALANCE SHEET - continued
30 APRIL 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:





J Rogers - Director


JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

JSR Showrooms Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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 Income Statement, 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.


JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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 10 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 85,000
AMORTISATION
At 1 May 2023 25,500
Charge for year 8,500
At 30 April 2024 34,000
NET BOOK VALUE
At 30 April 2024 51,000
At 30 April 2023 59,500

JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 446,326 44,157 76,004
Additions 1,619 24,779 8,984
Disposals - (3,074 ) -
At 30 April 2024 447,945 65,862 84,988
DEPRECIATION
At 1 May 2023 - 24,126 31,752
Charge for year - 8,569 7,985
Eliminated on disposal - (1,107 ) -
At 30 April 2024 - 31,588 39,737
NET BOOK VALUE
At 30 April 2024 447,945 34,274 45,251
At 30 April 2023 446,326 20,031 44,252

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 98,703 31,589 696,779
Additions 51,454 1,709 88,545
Disposals (1,000 ) - (4,074 )
At 30 April 2024 149,157 33,298 781,250
DEPRECIATION
At 1 May 2023 31,673 27,611 115,162
Charge for year 23,537 3,372 43,463
Eliminated on disposal (200 ) - (1,307 )
At 30 April 2024 55,010 30,983 157,318
NET BOOK VALUE
At 30 April 2024 94,147 2,315 623,932
At 30 April 2023 67,030 3,978 581,617

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 300,235 286,447
Amounts recoverable on contract 40,118 17,000
Other debtors 3,135 627
Intercompany debtor 21,877 16,115
Prepayments 3,900 4,398
369,265 324,587

JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Other loans 14,329 13,086
Mortgage 7,219 4,148
Hire purchase contracts 23,943 16,035
Trade creditors 394,674 365,056
Tax 63,002 50,782
Social security and other taxes 3,863 3,876
VAT 56,922 48,880
Other creditors 4,827 5,939
Intercompany creditor 3,911 -
Directors' current accounts 80,637 96,912
Accrued expenses 4,720 1,305
658,047 606,019

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Other loans - 1-2 years 31,583 27,644
Other loans - 2-5 years 75,527 87,091
Other loans more 5yrs instal 258,993 278,908
Hire purchase contracts 51,958 36,714
418,061 430,357

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 258,993 278,908

9. SECURED DEBTS

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Mortgage 313,611 323,790

Within the long term creditors are secured debts in favour of Allica Bank and Lloyds Bank with fixed and floating charges and negative pledge over all property including Unit 1 Wilson Way and over all undertakings of the company.


10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £9,430 (2023: £3,987).

JSR SHOWROOMS LTD (REGISTERED NUMBER: 08474194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. RELATED PARTY DISCLOSURES

The directors J Rogers and J Spry are the directors of JSR Developments (Cornwall) Ltd. During the year JSR Showrooms Ltd made supplies to JSR Developments (Cornwall) Ltd totalling £77,968 (2023: £66,932). The transactions were at arm's length and undertaken in the course of the trade. At the balance sheet date, JSR Showrooms Ltd were owed £4,049 by JSR Developments (Cornwall) Ltd (2023: £NIL).

There is an inter company loan between the two companies. At the balance sheet date JSR Developments (Cornwall) Ltd were owed by JSR Showrooms Ltd £3,911 (2023: £16,115 owed to JSR Showrooms Ltd by JSR Developments Ltd).

Westcountry Vans owed JSR Showrooms Ltd £21,865 at the balance sheet date (2023: £NIL).

JSR Holdings Ltd owed JSR Showrooms Ltd £12 at the balance sheet date (2023: £NIL).