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Registration number: 11947318

Jamie Young Design Ltd
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 April 2024

 

Jamie Young Design Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Jamie Young Design Ltd

(Registration number: 11947318)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

506

675

Current assets

 

Debtors

5

5,660

11,555

Cash at bank and in hand

 

22,873

25,015

 

28,533

36,570

Creditors: Amounts falling due within one year

6

(4,338)

(5,904)

Net current assets

 

24,195

30,666

Net assets

 

24,701

31,341

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

24,601

31,241

Shareholders' funds

 

24,701

31,341

For the financial year ending 30 April 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 year 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Income Statement.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
J S Young
Director

 

Jamie Young Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Jamie Young Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Computer equipment

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Jamie Young Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Computer equipment
£

Total
£

Cost or valuation

At 1 May 2023

1,200

1,200

At 30 April 2024

1,200

1,200

Depreciation

At 1 May 2023

525

525

Charge for the year

169

169

At 30 April 2024

694

694

Carrying amount

At 30 April 2024

506

506

At 30 April 2023

675

675

5

Debtors

2024
£

2023
£

Trade debtors

-

3,575

Other debtors

3,710

7,980

Accrued income

1,950

-

5,660

11,555

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

-

130

Taxation and social security

4,325

5,747

Accruals and deferred income

13

27

4,338

5,904

 

Jamie Young Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Loans advanced

7,980

34,643

(38,913)

3,710

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Loans advanced

6,648

16,332

(15,000)

7,980

         
       

 

The above loan is unsecured, interest free and repayable on demand. The maximum amount overdrawn in the year was £11,989.