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Registration number: 15127027

JGT Enterprises Limited

Annual Report and Unaudited Financial Statements

for the Period from 10 September 2023 to 30 April 2024

 

JGT Enterprises Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

JGT Enterprises Limited

Company Information

Directors

Mr J Tobin

Mr P L Tobin

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

JGT Enterprises Limited

(Registration number: 15127027)
Balance Sheet as at 30 April 2024

Note

2024
£

Tangible assets

4

6,092

Investments

5

100

 

6,192

Current assets

 

Debtors

6

6,414

Cash at bank and in hand

 

6,303

 

12,717

Creditors: Amounts falling due within one year

7

(29,421)

Net current liabilities

 

(16,704)

Net liabilities

 

(10,512)

Capital and reserves

 

Called up share capital

8

100

Retained earnings

(10,612)

Shareholders' deficit

 

(10,512)

For the financial period 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 period 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

JGT Enterprises Limited

(Registration number: 15127027)
Balance Sheet as at 30 April 2024
(continued)

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 Profit and Loss Account.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

.........................................
Mr J Tobin
Director

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wale.

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

These financial statements were authorised for issue by the Board on 27 January 2025.

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.

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024
(continued)

2

Accounting policies (continued)

Going concern

The financial statements show a deficit on net assets. This has arisen from losses incurred during the initial period of trading whilst the company was developing its business. The losses were anticipated during this phase of the businesses development and have been funded by loans from shareholders. The shareholders have indicated that they will continue to provide financial support to the company to enable it to continue trading for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the going concern basis being no longer appropriate.

Revenue recognition

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

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Fixtures and fittings

20% SL

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024
(continued)

2

Accounting policies (continued)

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024
(continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024
(continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

6,434

6,434

At 30 April 2024

6,434

6,434

Depreciation

Charge for the period

342

342

At 30 April 2024

342

342

Carrying amount

At 30 April 2024

6,092

6,092

5

Investments

2024
£

Investments in subsidiaries

100

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024
(continued)

5

Investments (continued)

Subsidiaries

£

Cost or valuation

Additions

100

Provision

Carrying amount

At 30 April 2024

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

Subsidiary undertakings

JGT Talent Management Limited

Young & Co, St Ethelbert House, Ryelands Street, Hereford, HR4 0LA

England

Ordinary

100%

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024
(continued)

6

Debtors

Current

Note

2024
£

Trade debtors

 

394

Amounts owed by related parties

9

6,020

   

6,414

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

100

Accruals and deferred income

 

1,201

Other creditors

 

28,120

 

29,421

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary A of £1 each

25

25

Ordinary B of £1 each

75

75

100

100

 

JGT Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 10 September 2023 to 30 April 2024
(continued)

9

Related party transactions

Loans to related parties

2024

Parent
£

Total
£

Advanced

75

75

At end of period

75

75

Terms of loans to related parties

The loan is interest free, unsecured and repayable on demand.
 

Loans from related parties

2024

Subsidiary
£

Total
£

Advanced

100

100

At end of period

100

100

Terms of loans from related parties

The loan is interest free, unsecured and repayable on demand.