Registered number
05792129
Jaytime Limited
Filleted Accounts
30 April 2024
Jaytime Limited
Registered number: 05792129
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 37,314 33,918
Current assets
Stocks 4,320 3,805
Debtors 4 50,096 48,158
Cash at bank and in hand 211,471 120,685
265,887 172,648
Creditors: amounts falling due within one year 5 (159,369) (134,574)
Net current assets 106,518 38,074
Total assets less current liabilities 143,832 71,992
Creditors: amounts falling due after more than one year 6 (12,500) (22,500)
Net assets 131,332 49,492
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 130,332 48,492
Shareholders' funds 131,332 49,492
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michele Artese
Director
Approved by the board on 11 December 2024
Jaytime Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 13
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 99,024
Additions 12,724
At 30 April 2024 111,748
Depreciation
At 1 May 2023 65,106
Charge for the year 9,328
At 30 April 2024 74,434
Net book value
At 30 April 2024 37,314
At 30 April 2023 33,918
4 Debtors 2024 2023
£ £
Other debtors 50,096 48,158
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 5,682 10,252
Other taxes and social security costs 105,290 66,406
Other creditors 38,397 47,916
159,369 134,574
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,500 22,500
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 22,500 32,500
Coronavirus Bounce back loan of £22,500 (2022 : £32,500) is covered by a government-backed guarantee.
8 Other information
Jaytime Limited is a private company limited by shares and incorporated in England. Its registered office is:
U5 20 High Street
London
E15 2PP
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