32 35 JD Subs Limited NI617457 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the operation of subway sandwich outlets Digita Accounts Production Advanced 6.30.9574.0 true NI617457 2023-07-01 2024-06-30 NI617457 2024-06-30 NI617457 bus:OrdinaryShareClass1 2024-06-30 NI617457 core:CurrentFinancialInstruments 2024-06-30 NI617457 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 NI617457 core:Non-currentFinancialInstruments 2024-06-30 NI617457 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 NI617457 core:Goodwill 2024-06-30 NI617457 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 NI617457 core:FurnitureFittingsToolsEquipment 2024-06-30 NI617457 core:MotorVehicles 2024-06-30 NI617457 bus:SmallEntities 2023-07-01 2024-06-30 NI617457 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI617457 bus:FilletedAccounts 2023-07-01 2024-06-30 NI617457 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI617457 bus:RegisteredOffice 2023-07-01 2024-06-30 NI617457 bus:Director1 2023-07-01 2024-06-30 NI617457 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 NI617457 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI617457 core:Goodwill 2023-07-01 2024-06-30 NI617457 core:NetGoodwill 2023-07-01 2024-06-30 NI617457 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-01 2024-06-30 NI617457 core:FurnitureFittings 2023-07-01 2024-06-30 NI617457 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI617457 core:MotorVehicles 2023-07-01 2024-06-30 NI617457 countries:NorthernIreland 2023-07-01 2024-06-30 NI617457 2023-06-30 NI617457 core:Goodwill 2023-06-30 NI617457 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 NI617457 core:FurnitureFittingsToolsEquipment 2023-06-30 NI617457 core:MotorVehicles 2023-06-30 NI617457 2022-07-01 2023-06-30 NI617457 2023-06-30 NI617457 bus:OrdinaryShareClass1 2023-06-30 NI617457 core:CurrentFinancialInstruments 2023-06-30 NI617457 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 NI617457 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 NI617457 core:Goodwill 2023-06-30 NI617457 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 NI617457 core:FurnitureFittingsToolsEquipment 2023-06-30 NI617457 core:MotorVehicles 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI617457

JD Subs Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

JD Subs Limited

(Registration number: NI617457)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

57,128

62,146

Tangible assets

5

126,405

180,919

 

183,533

243,065

Current assets

 

Stocks

6

14,466

13,696

Debtors

7

10,763

14,248

Cash at bank and in hand

 

178,733

93,519

 

203,962

121,463

Creditors: Amounts falling due within one year

8

(151,707)

(137,161)

Net current assets/(liabilities)

 

52,255

(15,698)

Total assets less current liabilities

 

235,788

227,367

Creditors: Amounts falling due after more than one year

8

(117,015)

(103,870)

Provisions for liabilities

(20,887)

(22,552)

Net assets

 

97,886

100,945

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

97,786

100,845

Shareholders' funds

 

97,886

100,945

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

JD Subs Limited

(Registration number: NI617457)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 24 March 2025
 

.........................................
Mr Julian Hamilton
Director

 

JD Subs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 9 Market House, Market Street, Downpatrick, Co Down, BT30 6LZ.

These financial statements were authorised for issue by the director on 24 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Revenue grants are accounted for under the performance model. Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

JD Subs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line basis

Motor van

20% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

6.5% straight line basis

Franchise fee

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

JD Subs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

JD Subs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 32 (2023 - 35).

4

Intangible assets

Goodwill
 £

Franchise fee
 £

Total
£

Cost or valuation

At 1 July 2023

133,200

4,400

137,600

At 30 June 2024

133,200

4,400

137,600

Amortisation

At 1 July 2023

71,054

4,400

75,454

Amortisation charge

5,018

-

5,018

At 30 June 2024

76,072

4,400

80,472

Carrying amount

At 30 June 2024

57,128

-

57,128

At 30 June 2023

62,146

-

62,146

 

JD Subs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Fixtures and fittings
 £

Motor van
 £

Total
£

Cost or valuation

At 1 July 2023

408,153

2,500

410,653

At 30 June 2024

408,153

2,500

410,653

Depreciation

At 1 July 2023

227,234

2,500

229,734

Charge for the year

54,514

-

54,514

At 30 June 2024

281,748

2,500

284,248

Carrying amount

At 30 June 2024

126,405

-

126,405

At 30 June 2023

180,919

-

180,919

6

Stocks

2024
£

2023
£

Stock

14,466

13,696

7

Debtors

Current

2024
£

2023
£

Trade debtors

5,753

3,526

Prepayments

5,010

6,084

Other debtors

-

4,638

 

10,763

14,248

 

JD Subs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

17,414

25,376

Trade creditors

 

42,458

41,808

Taxation and social security

 

39,763

24,706

Accruals and deferred income

 

44,780

39,985

Other creditors

 

7,292

5,286

 

151,707

137,161

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

117,015

103,870

 

JD Subs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

10,839

19,863

HP and finance lease liabilities

25,217

32,681

Directors loan account

80,959

51,326

117,015

103,870

2024
£

2023
£

Current loans and borrowings

Bank borrowings

9,950

10,050

Hire purchase

7,464

15,326

17,414

25,376