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Registration number: 10307955

JSC (UK) LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

JSC (UK) LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

JSC (UK) LTD

Company Information

Directors

Stacey Slater

James Slater

Registered office

River View
Southbourne Grove
Wickford
Essex
SS12 0JT

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

JSC (UK) LTD

(Registration number: 10307955)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

594

1,000

Current assets

 

Debtors

6

11,387

8,649

Cash at bank and in hand

 

8,491

7,000

 

19,878

15,649

Creditors: Amounts falling due within one year

7

(22,603)

(42,114)

Net current liabilities

 

(2,725)

(26,465)

Total assets less current liabilities

 

(2,131)

(25,465)

Creditors: Amounts falling due after more than one year

7

(3,750)

(8,750)

Net liabilities

 

(5,881)

(34,215)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(5,883)

(34,217)

Shareholders' deficit

 

(5,881)

(34,215)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

JSC (UK) LTD

(Registration number: 10307955)
Balance Sheet as at 31 August 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 April 2025 and signed on its behalf by:
 

.........................................
James Slater
Director

 

JSC (UK) LTD

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
River View
Southbourne Grove
Wickford
Essex
SS12 0JT

These financial statements were authorised for issue by the Board on 30 April 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.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the Company will be able to meet its debts as they fall due. However, during the year the company made a profit of £65,712 (2023: £49,499), and at the end of the year the company had net liabilities of £5,881 (2023: £34,215). The directors believes it is appropriate to prepare the financial statements on a going concern basis, as they have agreed to financially support the company for the foreseeable future.

Key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

JSC (UK) LTD

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

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 when the service is performed, if the service straddles more than one accounting period, income is recognised on a pro rata basis.

Tax

The tax expense for the period comprises current 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.

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

Furniture, fittings and equipment

25% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

JSC (UK) LTD

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

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 directors) during the year, was 1 (2023 - 1).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

720

-

 

JSC (UK) LTD

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

3,214

3,214

Additions

791

791

Disposals

(3,213)

(3,213)

At 31 August 2024

792

792

Depreciation

At 1 September 2023

2,214

2,214

Charge for the year

198

198

Eliminated on disposal

(2,214)

(2,214)

At 31 August 2024

198

198

Carrying amount

At 31 August 2024

594

594

At 31 August 2023

1,000

1,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

11,387

7,919

Other debtors

-

730

 

11,387

8,649

 

JSC (UK) LTD

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,000

5,000

Taxation and social security

 

3,987

10,658

Accruals and deferred income

 

1,210

1,175

Other creditors

 

12,406

25,281

 

22,603

42,114

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

3,750

8,750

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,750

8,750

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

5,000

 

JSC (UK) LTD

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

10

Dividends

2024

2023

£

£

Interim dividend of £18,689 (2023 - £36,450) per ordinary share

37,378

72,900

 

 

11

Related party transactions

Summary of transactions with other related parties


James Slater (director and shareholder)

The company paid dividends to James Slater totalling £18,689 (2023: £36,450). The director incurred expenditure on the company’s behalf of £29.717 (2023: £24,355) and withdrew £80,750 (2023: £73,600) from the company. At the balance sheet date the amount due to the director from the company was £12,407 (2023: £25,281).

Stacey Slater (director and shareholder)

The company paid dividends to Stacey Slater totalling £18,689 (2023: £36,450). The director incurred expenditure on the company’s behalf of £nil (2023: £nil). At the balance sheet date the amount due to Stacey Slater was £nil (2023: £nil).