Registered number
06239950
JAI AMBAY LIMITED
Filleted Accounts
31 May 2024
JAI AMBAY LIMITED
Registered number: 06239950
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 315,909 324,772
Current assets
Stocks 17,525 17,250
Debtors 5 40,371 40,456
Cash at bank and in hand 50,574 51,927
108,470 109,633
Creditors: amounts falling due within one year 6 (79,018) (87,968)
Net current assets 29,452 21,665
Total assets less current liabilities 345,361 346,437
Creditors: amounts falling due after more than one year 7 (130,954) (148,343)
Provisions for liabilities (10,382) (10,382)
Net assets 204,025 187,712
Capital and reserves
Called up share capital 100 100
Profit and loss account 203,925 187,612
Shareholders' funds 204,025 187,712
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Parekh
Director
Approved by the board on 6 April 2025
JAI AMBAY LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 24 24
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 22,500
At 31 May 2024 22,500
Amortisation
At 1 June 2023 22,500
At 31 May 2024 22,500
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 4 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 360,450 308,132 668,582
Additions - 14,090 14,090
At 31 May 2024 360,450 322,222 682,672
Depreciation
At 1 June 2023 79,220 264,590 343,810
Charge for the year 5,751 17,202 22,953
At 31 May 2024 84,971 281,792 366,763
Net book value
At 31 May 2024 275,479 40,430 315,909
At 31 May 2023 281,230 43,542 324,772
5 Debtors 2024 2023
£ £
Other debtors 40,371 40,456
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,000 18,000
Trade creditors 28,319 6,315
Taxation and social security costs 23,412 32,130
Other creditors 9,287 31,523
79,018 87,968
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 130,954 148,343
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 148,954 166,343
The bank loans are secured against the companies assets.
9 Controlling party
The ultimate control lies with the directors.
10 Other information
JAI AMBAY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
53 Market Place
Long Eaton
Nottingham
Nottinghamshire
NG10 1JQ
JAI AMBAY LIMITED 06239950 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2025 N Parekh No description of principal activity 06239950 2022-06-01 2023-05-31 06239950 core:WithinOneYear 2023-05-31 06239950 core:AfterOneYear 2023-05-31 06239950 core:ShareCapital 2023-05-31 06239950 core:RetainedEarningsAccumulatedLosses 2023-05-31 06239950 2023-06-01 2024-05-31 06239950 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06239950 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06239950 bus:Director40 2023-06-01 2024-05-31 06239950 1 2023-06-01 2024-05-31 06239950 2 2023-06-01 2024-05-31 06239950 core:LandBuildings 2023-06-01 2024-05-31 06239950 core:PlantMachinery 2023-06-01 2024-05-31 06239950 countries:England 2023-06-01 2024-05-31 06239950 bus:FRS102 2023-06-01 2024-05-31 06239950 bus:FilletedAccounts 2023-06-01 2024-05-31 06239950 2024-05-31 06239950 core:WithinOneYear 2024-05-31 06239950 core:AfterOneYear 2024-05-31 06239950 core:ShareCapital 2024-05-31 06239950 core:RetainedEarningsAccumulatedLosses 2024-05-31 06239950 core:Goodwill 2024-05-31 06239950 core:LandBuildings 2024-05-31 06239950 core:PlantMachinery 2024-05-31 06239950 2023-05-31 06239950 core:Goodwill 2023-05-31 06239950 core:LandBuildings 2023-05-31 06239950 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure