Company Registration No. 11850769 (England and Wales)
Jaytee Fair Lady Limited
Unaudited financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
Jaytee Fair Lady Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Jaytee Fair Lady Limited
Statement of financial position
As at 30 June 2024
1
2024
2023
Notes
€
€
€
€
Current assets
Debtors
3
1
348
Cash at bank and in hand
14,178
15,868
14,179
16,216
Creditors: amounts falling due within one year
4
(2,107,934)
(2,103,311)
Net current liabilities
(2,093,755)
(2,087,095)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(2,093,756)
(2,087,096)
Total equity
(2,093,755)
(2,087,095)
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
The financial statements were approved and signed by the director and authorised for issue on 5 March 2025.
Jonathan Turner
Director
Company Registration No. 11850769
Jaytee Fair Lady Limited
Notes to the financial statements
For the year ended 30 June 2024
2
1
Accounting policies
Company information
Jaytee Fair Lady Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bowcliffe Hall, Bramham, Wetherby, West Yorkshire, LS23 6LP.
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 euros, 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
Following the sale of the vessel held and operated by the company during year ended 30 June 2022, the company has ceased this trade. The Director continues to support the company as a non trading entity at the point of approval of these financial statements.
1.3
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.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities 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 company after deducting all of its liabilities.
Jaytee Fair Lady Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
3
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
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.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
2024
2023
Number
Number
Total
3
Debtors
2024
2023
Amounts falling due within one year:
€
€
Other debtors
1
348
Jaytee Fair Lady Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
4
4
Creditors: amounts falling due within one year
2024
2023
€
€
Trade creditors
7,526
2,083
Other creditors
2,100,408
2,101,228
2,107,934
2,103,311
5
Called up share capital
2024
2023
€
€
Ordinary share capital
Issued and not fully paid
1 Ordinary share of €1.17 each
1
1
These shares were converted to Euros at the date of incorporation.
6
Related party transactions
Included within creditors is a loan of €2,097,533 (2023: €2,097,533) made by the sole shareholder and director. This loan is interest free and repayable on demand. The balance remains within short term creditors at the year end.