Company registration number SC359039 (Scotland)
JENIER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
JENIER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JENIER LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,609
10,001
Current assets
Stocks
352,007
335,081
Debtors
4
49,444
39,514
Cash at bank and in hand
56
10,312
401,507
384,907
Creditors: amounts falling due within one year
5
(354,584)
(301,337)
Net current assets
46,923
83,570
Total assets less current liabilities
54,532
93,571
Creditors: amounts falling due after more than one year
6
(96,167)
(148,880)
Net liabilities
(41,635)
(55,309)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(42,635)
(56,309)
Total equity
(41,635)
(55,309)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JENIER LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 February 2025 and are signed on its behalf by:
Mr D Clark
Director
Company Registration No. SC359039
JENIER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Jenier Limited is a private company limited by shares incorporated in Scotland. The registered office is 27 Earl Haig Road, Glasgow, United Kingdom, G52 4JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date the company has net liabilities, however the directors have confirmed that they will continue to provide financial support to the company to allow it to meet its ongoing financial liabilities. Consequently, these financial statements have been prepared on a going concern basis and no adjustments have been made which may arise should the company cease to trade.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
JENIER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
7
JENIER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 June 2023
13,713
15,765
19,391
48,869
Additions
138
138
At 31 May 2024
13,713
15,765
19,529
49,007
Depreciation and impairment
At 1 June 2023
11,833
12,939
14,096
38,868
Depreciation charged in the year
470
707
1,353
2,530
At 31 May 2024
12,303
13,646
15,449
41,398
Carrying amount
At 31 May 2024
1,410
2,119
4,080
7,609
At 31 May 2023
1,880
2,826
5,295
10,001
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
22,219
15,544
Other debtors
27,225
23,970
49,444
39,514
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
36,405
713
Trade creditors
118,061
108,873
Taxation and social security
1,933
1,943
Other creditors
198,185
189,808
354,584
301,337
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
96,167
148,880
JENIER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
7
Securities
Jenier Pension Scheme Trustees hold a fixed charge over company trademark and copyright.
Jenier Pension Scheme Trustees hold a fixed security and a floating charge over all the property or undertaking of the company.
8
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
30,270
25,522
9
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
2024
2023
£
£
Amounts due to related parties
174,379
220,686