Company No:
Contents
| Note | 28.08.2024 | 28.02.2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 63,987 | 15,051 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 1,291,242 | 59,974 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current liabilities | (407,906) | (89,482) | ||
| Total assets less current liabilities | (343,919) | (74,431) | ||
| Net liabilities | (
|
(
|
||
| Capital and reserves | ||||
| Called-up share capital | 6 |
|
|
|
| Profit and loss account | (
|
(
|
||
| Total shareholder's deficit | (
|
(
|
Director's responsibilities:
The financial statements of JD Spirits Limited (registered number:
|
Isabel-Catherine Demel
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
JD Spirits Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Rayleigh House 21 Queen Annes Place, London, Enfield, EN1 2QB, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £343,919. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The financial statements for the period ended 28 February 2023 reflect 369 days from the date of incorporation. The current period has been extended to amend the financial year to end 28 August 2024 . As a result of the change the prior periods figures shown are not entirely comparable.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
| Plant and machinery etc. |
|
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
| Period from 01.03.2023 to 28.08.2024 |
Period from 25.02.2022 to 28.02.2023 |
||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the period, including the unpaid director |
|
|
| Plant and machinery etc. | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 March 2023 |
|
|
|
| Additions |
|
|
|
| At 28 August 2024 |
|
|
|
| Accumulated depreciation | |||
| At 01 March 2023 |
|
|
|
| Charge for the financial period |
|
|
|
| At 28 August 2024 |
|
|
|
| Net book value | |||
| At 28 August 2024 |
|
|
|
| At 28 February 2023 |
|
|
| 28.08.2024 | 28.02.2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 28.08.2024 | 28.02.2023 | ||
| £ | £ | ||
| Trade creditors |
|
|
|
| Other taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 28.08.2024 | 28.02.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
Other financial commitments
| 28.08.2024 | 28.02.2023 | ||
| £ | £ | ||
| Total commitments under non-cancellable operating leases not provided for in the accounts |
|
|
Transactions with the entity's director
| 28.08.2024 | 28.02.2023 | ||
| £ | £ | ||
| Amounts Owed to Directors | 489,750 | 0 |
This loan is interest free and repayable on demand.
Other related party transactions
| 28.08.2024 | 28.02.2023 | ||
| £ | £ | ||
| Amounts Owed to Other Related Parties | 762,500 | 0 |
This loan is interest free and repayable on demand.