Company Registration No. 9297831 (England and Wales)
JESS LORIMER LTD
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
JESS LORIMER LTD
BALANCE SHEET
AS AT
28 NOVEMBER 2024
28 November 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
975
3,260
Investments
4
23,980
23,980
24,955
27,240
Current assets
Debtors
5
122,770
126,999
Cash at bank and in hand
73,842
108,598
196,612
235,597
Creditors: amounts falling due within one year
6
(59,530)
(93,385)
Net current assets
137,082
142,212
Total assets less current liabilities
162,037
169,452
Creditors: amounts falling due after more than one year
7
(9,801)
(19,396)
Net assets
152,236
150,056
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
152,136
149,956
Total equity
152,236
150,056
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her 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.
JESS LORIMER LTD
BALANCE SHEET (CONTINUED)
AS AT
28 NOVEMBER 2024
28 November 2024
2
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 23 April 2025
Miss JB Lorimer
Director
Company Registration No. 9297831
JESS LORIMER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2024
3
1
Accounting policies
Company information
Jess Lorimer Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.
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
Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT.
1.3
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:
Fixtures, fittings & equipment
33% straight line
Computer equipment
33% straight line
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.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
JESS LORIMER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
1
Accounting policies (Continued)
4
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charges as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
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.
JESS LORIMER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
5
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 November 2023
9,973
Additions
414
At 28 November 2024
10,387
Depreciation and impairment
At 29 November 2023
6,713
Depreciation charged in the year
2,699
At 28 November 2024
9,412
Carrying amount
At 28 November 2024
975
At 28 November 2023
3,260
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
23,980
23,980
JESS LORIMER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
6
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
115,774
109,082
Other debtors
6,996
17,917
122,770
126,999
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,596
9,396
Trade creditors
6,421
Taxation and social security
32,129
55,368
Other creditors
11,384
28,621
59,530
93,385
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,801
19,396
8
Financial commitments, guarantees and contingent liabilities
The company had operating lease commitments amounting to £11,921 (2023: £18,734) at the Balance Sheet date.