3 3 JAC Products Limited 13165711 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of retail and wholesale products. Digita Accounts Production Advanced 6.30.9574.0 true 13165711 2024-02-01 2025-01-31 13165711 2025-01-31 13165711 core:RetainedEarningsAccumulatedLosses 2025-01-31 13165711 core:ShareCapital 2025-01-31 13165711 core:CurrentFinancialInstruments 2025-01-31 13165711 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 13165711 core:FurnitureFittingsToolsEquipment 2025-01-31 13165711 bus:SmallEntities 2024-02-01 2025-01-31 13165711 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 13165711 bus:FilletedAccounts 2024-02-01 2025-01-31 13165711 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 13165711 bus:RegisteredOffice 2024-02-01 2025-01-31 13165711 bus:Director2 2024-02-01 2025-01-31 13165711 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 13165711 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 13165711 core:PlantMachinery 2024-02-01 2025-01-31 13165711 countries:EnglandWales 2024-02-01 2025-01-31 13165711 2023-02-01 2024-01-31 13165711 2024-01-31 13165711 core:RetainedEarningsAccumulatedLosses 2024-01-31 13165711 core:ShareCapital 2024-01-31 13165711 core:CurrentFinancialInstruments 2024-01-31 13165711 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13165711 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2024-01-31 13165711 core:PreviouslyStatedAmount 2024-01-31 xbrli:pure iso4217:GBP

Registration number: 13165711

JAC Products Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

JAC Products Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

JAC Products Limited

(Registration number: 13165711)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

11,736

-

Current assets

 

Stocks

5

46,500

42,500

Debtors

6

123,512

3,106

Cash at bank and in hand

 

70,206

29,470

 

240,218

75,076

Creditors: Amounts falling due within one year

7

(193,139)

(67,072)

Net current assets

 

47,079

8,004

Total assets less current liabilities

 

58,815

8,004

Provisions for liabilities

(2,934)

-

Net assets

 

55,881

8,004

Capital and reserves

 

Called up share capital

300

300

Retained earnings

55,581

7,704

Shareholders' funds

 

55,881

8,004

For the financial year ending 31 January 2025 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.

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 16 June 2025 and signed on its behalf by:
 

.........................................
Mr J Needham
Director

 

JAC Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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:
Unit 7 Station Yard
Station Road
Bawtry
Doncaster
DN10 6QD

The principal place of business is:
Unit 7 Station Yard
Station Road
Bawtry
Doncaster
DN10 6QD

These financial statements were authorised for issue by the Board on 16 June 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.

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.

 

JAC Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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 & Machinery

20% straight line per annum

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.

 

JAC Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

JAC Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

14,670

14,670

At 31 January 2025

14,670

14,670

Depreciation

Charge for the year

2,934

2,934

At 31 January 2025

2,934

2,934

Carrying amount

At 31 January 2025

11,736

11,736

5

Stocks

2025
£

2024
£

Other inventories

46,500

42,500

6

Debtors

2025
£

2024
£

Trade debtors

122,656

2,342

Prepayments

856

764

123,512

3,106

 

JAC Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

112,505

1,872

Amounts owed to related parties

61,652

61,652

Taxation and social security

 

4,327

844

Corporation tax

 

12,388

1,214

Accrued expenses

 

2,267

1,490

 

193,139

67,072

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £9,960 (2024 - £9,360).