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Registered number: 06893850
Cheap Jacks Limited
Financial Statements
For The Year Ended 31 May 2024
Accounts Unlocked Limited
Office 43, The Cobalt Building
1600 Eureka Park, Lower Pemberton
Ashford
Kent
TN25 4BF
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 06893850
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,163 1,936
2,163 1,936
CURRENT ASSETS
Stocks 6 11,500 12,750
Debtors 7 4,772 5,023
Cash at bank and in hand 62,183 73,240
78,455 91,013
Creditors: Amounts Falling Due Within One Year 8 (15,961 ) (11,035 )
NET CURRENT ASSETS (LIABILITIES) 62,494 79,978
TOTAL ASSETS LESS CURRENT LIABILITIES 64,657 81,914
Creditors: Amounts Falling Due After More Than One Year 9 (31,099 ) (36,042 )
NET ASSETS 33,558 45,872
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 33,458 45,772
SHAREHOLDERS' FUNDS 33,558 45,872
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr A R Withenshaw
Director
13 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cheap Jacks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06893850 . The registered office is Office 43, The Cobalt Building 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 4,000
As at 31 May 2024 4,000
Amortisation
As at 1 June 2023 4,000
As at 31 May 2024 4,000
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
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Page 4
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 3,017
Additions 658
As at 31 May 2024 3,675
Depreciation
As at 1 June 2023 1,081
Provided during the period 431
As at 31 May 2024 1,512
Net Book Value
As at 31 May 2024 2,163
As at 1 June 2023 1,936
6. Stocks
2024 2023
£ £
Stock 11,500 12,750
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 4,772 5,023
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 914 420
Bank loans and overdrafts 5,315 5,040
Other creditors 2,787 143
Taxation and social security 6,945 5,432
15,961 11,035
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 31,099 36,042
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4