JAYKAY FUTURES LTD |
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BALANCE SHEET |
AS AT 31 MAY 2024 |
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Notes |
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2024 |
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2023 |
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£ |
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£ |
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CURRENT ASSETS |
Cash at bank and in hand |
182,757 |
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182,988 |
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CREDITORS: Amounts falling due within one year |
5 |
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1,180 |
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1,422 |
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NET CURRENT ASSETS |
181,577 |
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181,566 |
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NET ASSETS |
181,577 |
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181,566 |
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CAPITAL AND RESERVES |
Distributable profit and loss account |
181,577 |
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181,566 |
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MEMBERS' FUNDS |
181,577 |
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181,566 |
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These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities. |
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For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. |
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Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
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As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. |
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Signed on behalf of the board |
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P Newell |
Director |
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Date approved by the board: 5 February 2025 |
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JAYKAY FUTURES LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
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1 |
GENERAL INFORMATION |
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Jaykay Futures Ltd is a private company limited by guarantee and incorporated in England and Wales. Its registered office is: |
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Midland House |
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West Way |
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Botley |
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Oxford |
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OX2 0PH |
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The company ceased to trade on 31 May 2020. |
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The financial statements are presented in Sterling, which is the functional currency of the company. |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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Basis of preparation of financial statements |
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These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006. |
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Going concern |
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The accounts have been drawn up on a basis other than going concern as the company ceased to trade on 31 May 2020. As the going concern basis is not appropriate, adjustments have been made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise as a result of the cessation and to reclassify fixed assets as current assets. |
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Financial Instruments |
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The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
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JAYKAY FUTURES LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
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2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) |
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Creditors |
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Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost. |
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Taxation |
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Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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. |
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