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REGISTERED NUMBER: 07716891 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

JAYACHOICE LTD

JAYACHOICE LTD (REGISTERED NUMBER: 07716891)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JAYACHOICE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs H D Vara
D C Vara
S Vara





REGISTERED OFFICE: 278 Upper Richmond Road
London
SW15 6TQ





REGISTERED NUMBER: 07716891 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

JAYACHOICE LTD (REGISTERED NUMBER: 07716891)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 134,526 142,862
134,526 142,862

CURRENT ASSETS
Stocks 6 50,240 40,240
Debtors 7 212,738 153,470
Cash at bank and in hand 54,482 43,727
317,460 237,437
CREDITORS
Amounts falling due within one year 8 263,636 233,483
NET CURRENT ASSETS 53,824 3,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,350

146,816

CREDITORS
Amounts falling due after more than one year 9 211,529 221,667
NET LIABILITIES (23,179 ) (74,851 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (23,279 ) (74,951 )
SHAREHOLDERS' FUNDS (23,179 ) (74,851 )

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

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

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 25 March 2025 and were signed on its behalf by:





Mrs H D Vara - Director


JAYACHOICE LTD (REGISTERED NUMBER: 07716891)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Jayachoice 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
The financial statements have been prepared on a going concern basis not withstanding the company's net current liabilities position as at the year end. The directors of the company and the connected companies have provided with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of year.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 25% on cost
Fixtures and fittings - 25% reducing balance
Computer equipment - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is valued at the lower of cost and net realisable value.

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.

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.

JAYACHOICE LTD (REGISTERED NUMBER: 07716891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 8 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 335,000
AMORTISATION
At 1 April 2023
and 31 March 2024 335,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 215,381 51,691 7,270 274,342
Additions - 1,552 - 1,552
At 31 March 2024 215,381 53,243 7,270 275,894
DEPRECIATION
At 1 April 2023 77,353 47,558 6,569 131,480
Charge for year 8,615 1,098 175 9,888
At 31 March 2024 85,968 48,656 6,744 141,368
NET BOOK VALUE
At 31 March 2024 129,413 4,587 526 134,526
At 31 March 2023 138,028 4,133 701 142,862

6. STOCKS
31.3.24 31.3.23
£    £   
Finished goods 50,240 40,240

JAYACHOICE LTD (REGISTERED NUMBER: 07716891)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 105,022 71,727
Amounts owed by participating interests 64,835 39,412
Other debtors 14,410 20,988
VAT 28,471 21,343
212,738 153,470

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Trade creditors 216,136 182,719
Corporation Tax payable 2,430 -
Social security and other taxes 6,971 7,147
Pension payable 2,108 -
Other creditors 1,976 231
Net wages 18,761 11,373
Director's current account 1,444 18,713
Accruals and deferred income 3,810 3,300
263,636 233,483

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 10) 11,529 21,667
Directors' loan accounts 200,000 200,000
211,529 221,667

10. LOANS

The above bank loan is secured against the property.

11. RELATED PARTY DISCLOSURES

Included in creditors as at 31 March 2024 is £201,444 (2023: £2,18,713) an amount due to the director of the company. there are no specific terms of repayment.

During the year, there were no management fees received from the company Quizchoice Limited, a company which has common director. As at year end, the amount due from Quizchoice Limited was £64,835 (2023: £39,412).

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of holding 100% of the issued share capital.