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REGISTERED NUMBER: 03565192 (England and Wales)





JOLLYS (MANSFIELD) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOLLYS (MANSFIELD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mr R S Ginever
Mr T W Ginever



SECRETARY: Mr T W Ginever



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 03565192 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: Nat West
Portland Square
Sutton-in-Ashfield
Nottinghamshire
NG17 1BA

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 538,098 556,392
Tangible assets 6 217,300 246,668
Investment property 7 223,257 223,257
978,655 1,026,317

CURRENT ASSETS
Stocks 8 511,287 611,537
Debtors 9 298,114 255,870
Cash at bank and in hand 218,634 168,766
1,028,035 1,036,173
CREDITORS
Amounts falling due within one year 10 521,432 456,260
NET CURRENT ASSETS 506,603 579,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,485,258

1,606,230

CREDITORS
Amounts falling due after more than one
year

11

(101,526

)

(226,830

)

PROVISIONS FOR LIABILITIES (12,448 ) (16,998 )
NET ASSETS 1,371,284 1,362,402

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 1,371,184 1,362,302
SHAREHOLDERS' FUNDS 1,371,284 1,362,402

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

BALANCE SHEET - continued
31 OCTOBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





Mr T W Ginever - Director


JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Jollys (Mansfield) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historic cost convention modified for fair value for the Investment Property.

Significant judgements and estimates
The most significant estimates are as follows:-

Investment Property:
The investment property is shown at the most recent valuation. The directors also review the investment property annually and consider that the value shown in the financial statements is not materially different to its market value, therefore no depreciation has been provided.

The other significant judgements and estimates are detailed in the accounting policies.

Turnover
Turnover represents the value excluding Value Added Tax of jewellery and associated services provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% straight line
Leasehold Property Alterations - 20% straight line
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. INTANGIBLE FIXED ASSETS
Crypto
Goodwill Assets Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 392,944 483,212 876,156
AMORTISATION
At 1 November 2023 319,764 - 319,764
Amortisation for year 18,294 - 18,294
At 31 October 2024 338,058 - 338,058
NET BOOK VALUE
At 31 October 2024 54,886 483,212 538,098
At 31 October 2023 73,180 483,212 556,392

6. TANGIBLE FIXED ASSETS
Leasehold
Freehold Property Plant and
property Alterations machinery
£    £    £   
COST
At 1 November 2023
and 31 October 2024 279,180 81,570 40,933
DEPRECIATION
At 1 November 2023 100,503 81,570 33,950
Charge for year 11,167 - 1,047
At 31 October 2024 111,670 81,570 34,997
NET BOOK VALUE
At 31 October 2024 167,510 - 5,936
At 31 October 2023 178,677 - 6,983

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


6. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 135,521 71,855 609,059
DEPRECIATION
At 1 November 2023 97,248 49,120 362,391
Charge for year 9,576 7,578 29,368
At 31 October 2024 106,824 56,698 391,759
NET BOOK VALUE
At 31 October 2024 28,697 15,157 217,300
At 31 October 2023 38,273 22,735 246,668

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023
and 31 October 2024 71,855
DEPRECIATION
At 1 November 2023 49,120
Charge for year 7,578
At 31 October 2024 56,698
NET BOOK VALUE
At 31 October 2024 15,157
At 31 October 2023 22,735

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 223,257
NET BOOK VALUE
At 31 October 2024 223,257
At 31 October 2023 223,257

The investment property was purchased in November 2010. On 31 October 2024 the directors reviewed the valuation against the current market value and did not believe this to be materially different, therefore no revaluation or impairment of this property has been included in the financial statements.

8. STOCKS
2024 2023
£    £   
Stocks 511,287 611,537

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by related parties 15,121 13,621
Prepayments and accrued income 282,993 242,249
298,114 255,870

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,166 34,276
Other loans 288,650 345,200
Hire purchase contracts - 5,809
Corporation tax 57,331 42,500
Social security and other taxes 1,896 1,140
VAT 10,317 10,563
Other creditors 1,451 1,280
Wages control account - 1,940
Directors' current accounts 116,363 5,295
Accruals and deferred income 20,258 8,257
521,432 456,260

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 21,230 19,304
Bank loans - 2-5 years 37,212 35,325
Bank loans more 5 yr by instal - 33,723
Other loans - 1-2 years 43,084 45,200
Other loans - 2-5 years - 43,084
Hire purchase contracts - 50,194
101,526 226,830

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 33,723

JOLLYS (MANSFIELD) LIMITED (REGISTERED NUMBER: 03565192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 83,608 107,656
Other loans 331,734 433,484
Hire purchase contracts - 56,003
415,342 597,143

The hire purchase is secured on the motor vehicles. The loans are secured on all the other assets of the company.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

14. RELATED PARTY DISCLOSURES

Key management personnel remuneration in the year totalled £12,570. (2023: £12,570).

At balance sheet date, £15,121 (2023: £Nil) was owed from related parties.