JJLF Limited |
Notes to the Accounts |
for the year ended 31 August 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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. |
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Turnover |
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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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
3 years |
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Debtors |
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Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price, which is usually the invoice price. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Plant and machinery |
£ |
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Cost |
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At 1 September 2023 |
2,428 |
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Disposals |
(2,428) |
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At 31 August 2024 |
- |
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Depreciation |
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At 1 September 2023 |
2,426 |
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On disposals |
(2,426) |
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At 31 August 2024 |
- |
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Net book value |
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At 31 August 2024 |
- |
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At 31 August 2023 |
2 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Other debtors |
281,295 |
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281,295 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Amounts owed to associated companies |
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20,497 |
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- |
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Other creditors |
934 |
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673 |
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21,431 |
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673 |
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6 |
Related party transactions |
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At the year end, the company owed £20,497 (2023: nil) to Sea Export Ltd, a company under common control. |
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7 |
Other information |
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JJLF Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Suite C, Unit 2 Bryer Ash Business Park |
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Trowbridge |
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Wiltshire |
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BA14 8HE |