Company Registration No. 03287014 (England and Wales)
Jennings Sound & Vision Ltd.
Unaudited accounts
for the year ended 31 May 2024
Jennings Sound & Vision Ltd.
Unaudited accounts
Contents
Jennings Sound & Vision Ltd.
Company Information
for the year ended 31 May 2024
Directors
Diane Jill James
Nicholas Charles James
Robert Charles James
Secretary
Diane Jill James
Company Number
03287014 (England and Wales)
Registered Office
185 Fleet Road
Fleet
GU51 3BL
Accountants
Janes Accounting Services Limited
9 Church Hams
Finchampstead
Wokingham
Berkshire
RG40 4XF
Jennings Sound & Vision Ltd.
Statement of financial position
as at 31 May 2024
Tangible assets
2,448
3,265
Cash at bank and in hand
96,215
176,945
Creditors: amounts falling due within one year
(33,125)
(101,864)
Net current assets
138,449
151,576
Total assets less current liabilities
140,897
154,841
Provisions for liabilities
Net assets
140,433
154,377
Called up share capital
100
100
Profit and loss account
140,333
154,277
Shareholders' funds
140,433
154,377
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by
Robert Charles James
Director
Company Registration No. 03287014
Jennings Sound & Vision Ltd.
Notes to the Accounts
for the year ended 31 May 2024
Jennings Sound & Vision Ltd. is a private company, limited by shares, registered in England and Wales, registration number 03287014. The registered office is 185 Fleet Road, Fleet, GU51 3BL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing value
Motor vehicles
25% on reducing value
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
Jennings Sound & Vision Ltd.
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Total
5
Operating lease commitments
2024
2023
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
22,000
22,000
Later than one year and not later than five years
-
22,000
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).