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Registration number: 10157164

JG HR Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

JG HR Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

JG HR Solutions Limited

Company Information

Director

Ms Julie Maria Grabham

Registered office

Dobehafan
Cwmann
Lampeter
Ceredigion
SA48 8DZ

 

JG HR Solutions Limited

(Registration number: 10157164)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

18,778

19,321

Current assets

 

Debtors

6

4,477

14,073

Cash at bank and in hand

 

38,556

25,978

 

43,033

40,051

Creditors: Amounts falling due within one year

7

(56,465)

(42,024)

Net current liabilities

 

(13,432)

(1,973)

Total assets less current liabilities

 

5,346

17,348

Creditors: Amounts falling due after more than one year

7

(3,848)

(7,144)

Net assets

 

1,498

10,204

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

1,497

10,203

Total equity

 

1,498

10,204

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.

Director's 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 director acknowledges her 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 January 2025
 

.........................................
Ms Julie Maria Grabham
Director

   
     
 

JG HR Solutions Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Dobehafan
Cwmann
Lampeter
Ceredigion
SA48 8DZ

These financial statements were authorised for issue by the director on 30 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.

Going concern

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.

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.

 

JG HR Solutions Limited

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

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

Plant and machinery

20% reducing balance

Land and buildings

2% straight line

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.

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

JG HR Solutions Limited

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

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

543

583

5

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

19,117

1,572

20,689

At 30 April 2024

19,117

1,572

20,689

Depreciation

At 1 May 2023

601

767

1,368

Charge for the year

382

161

543

At 30 April 2024

983

928

1,911

Carrying amount

At 30 April 2024

18,134

644

18,778

At 30 April 2023

18,516

805

19,321

Included within the net book value of land and buildings above is £18,134 (2023 - £18,516) in respect of freehold land and buildings.
 

 

JG HR Solutions Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

4,308

14,073

Other debtors

169

-

4,477

14,073

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

3,400

3,500

Trade creditors

 

2,219

391

Taxation and social security

 

519

892

Other related parties

 

38,206

18,165

Corporation tax liability

 

6,832

10,360

Other creditors

 

5,289

8,716

 

56,465

42,024

Due after one year

 

Loans and borrowings

9

3,848

7,144

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

3,848

7,144

 

JG HR Solutions Limited

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

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

3,848

7,144

2024
£

2023
£

Current loans and borrowings

Bank borrowings

3,400

3,500

10

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Ms Julie Maria Grabham

Directors loan account

(18,165)

100,251

(120,292)

(38,206)

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Ms Julie Maria Grabham

Directors loan account

(2,645)

6,350

(21,869)

(18,165)

         
       

 

The loan is interest free and repayable by the company on demand.