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Registration number: 04552422

Villager Jim Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Villager Jim Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Villager Jim Limited

Company Information

Director

Mr J Dobson

Company secretary

Mrs JL Dobson

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Ltd
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

Villager Jim Limited

(Registration number: 04552422)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,236

6,392

Current assets

 

Debtors

5

65,282

73,531

Cash at bank and in hand

 

1,504

1,079

 

66,786

74,610

Creditors: Amounts falling due within one year

6

(39,737)

(42,480)

Net current assets

 

27,049

32,130

Total assets less current liabilities

 

32,285

38,522

Creditors: Amounts falling due after more than one year

6

(30,952)

(36,405)

Provisions for liabilities

(995)

(1,619)

Net assets

 

338

498

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

238

398

Shareholders' funds

 

338

498

For the financial year ending 31 October 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

Approved and authorised by the director on 22 April 2025
 

.........................................
Mr J Dobson
Director

 

Villager Jim Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

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.

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.

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.

 

Villager Jim Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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

Plant and machinery etc

- 25% on reducing balance and 25% on cost

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

3

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,617

2,130

 

Villager Jim Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

53,103

53,103

Additions

462

462

At 31 October 2024

53,565

53,565

Depreciation

At 1 November 2023

46,711

46,711

Charge for the year

1,618

1,618

At 31 October 2024

48,329

48,329

Carrying amount

At 31 October 2024

5,236

5,236

At 31 October 2023

6,392

6,392

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

14

Other debtors

65,282

73,517

 

65,282

73,531

 

Villager Jim Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

15,639

15,639

Trade creditors

 

207

1,017

Taxation and social security

 

2,216

743

Accruals and deferred income

 

660

718

Other creditors

 

21,015

24,363

 

39,737

42,480

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

30,952

36,405

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Villager Jim Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

30,952

36,405

Current loans and borrowings

2024
£

2023
£

Bank borrowings

15,639

15,639

9

Related party transactions

Transactions with the director

2024

At 1 November 2023
£

Repayments by director
£

At 31 October 2024
£

Mrs JL Dobson

Interest is charged at 2.25% and is due to be repaid by 31 July 2025.

(26,288)

4,118

(22,170)

Mr J Dobson

Interest is charged at 2.25% and is due to be repaid by 31 July 2025.

(26,288)

4,118

(22,170)