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REGISTERED NUMBER: 06905733 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

JETCHILL LTD

JETCHILL LTD (REGISTERED NUMBER: 06905733)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JETCHILL LTD

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: Mr R Flunder
Mr C Myers





REGISTERED OFFICE: Print Centre
Fulwell Road
Roker
Sunderland
Tyne and Wear
SR6 0HR





REGISTERED NUMBER: 06905733 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

JETCHILL LTD (REGISTERED NUMBER: 06905733)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 51,420 46,404
Tangible assets 5 76,285 84,603
127,705 131,007

CURRENT ASSETS
Stocks 1,148,859 1,280,342
Debtors 6 300,099 173,896
Cash at bank and in hand 155,149 195,373
1,604,107 1,649,611
CREDITORS
Amounts falling due within one year 7 388,790 376,614
NET CURRENT ASSETS 1,215,317 1,272,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,343,022

1,404,004

CREDITORS
Amounts falling due after more than one
year

8

(32,207

)

(130,990

)

PROVISIONS FOR LIABILITIES (14,494 ) (11,903 )
NET ASSETS 1,296,321 1,261,111

CAPITAL AND RESERVES
Called up share capital 53,332 53,332
Share premium 105,668 105,668
Retained earnings 1,137,321 1,102,111
1,296,321 1,261,111

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

JETCHILL LTD (REGISTERED NUMBER: 06905733)

BALANCE SHEET - continued
31 May 2024


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 26 February 2025 and were signed on its behalf by:





Mr R Flunder - Director


JETCHILL LTD (REGISTERED NUMBER: 06905733)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Jetchill Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 33% on reducing balance

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurances that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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.


JETCHILL LTD (REGISTERED NUMBER: 06905733)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 16 ) .

JETCHILL LTD (REGISTERED NUMBER: 06905733)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023 61,359
Additions 25,619
At 31 May 2024 86,978
AMORTISATION
At 1 June 2023 14,955
Charge for year 20,603
At 31 May 2024 35,558
NET BOOK VALUE
At 31 May 2024 51,420
At 31 May 2023 46,404

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 244,891
Additions 16,814
At 31 May 2024 261,705
DEPRECIATION
At 1 June 2023 160,288
Charge for year 25,132
At 31 May 2024 185,420
NET BOOK VALUE
At 31 May 2024 76,285
At 31 May 2023 84,603

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 246,290 81,239
Amounts owed by associates - 2,889
Other debtors 53,809 89,768
300,099 173,896

JETCHILL LTD (REGISTERED NUMBER: 06905733)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 166,512 98,242
Trade creditors 224,467 147,224
Amounts owed to associates 12,493 -
Taxation and social security (39,747 ) 76,774
Other creditors 25,065 54,374
388,790 376,614

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 32,207 130,990

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr R Flunder
Balance outstanding at start of year 963 -
Amounts advanced - 963
Amounts repaid (6,032 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,069 ) 963

Mr C Myers
Balance outstanding at start of year 16,943 (279 )
Amounts advanced 6,382 17,222
Amounts repaid (12,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,325 16,943

10. RELATED PARTY DISCLOSURES

Consultancy fees included in the financial statements includes £12,000 paid to Tom Knight, a shareholder in JetChill Ltd.

Consultancy fees included in the financial statements includes £12,000 paid to ULG Ltd owned by Robert Senior, a shareholder in JetChill Ltd.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.