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COMPANY REGISTRATION NUMBER: 01541150
Jay Trim Limited
Filleted Unaudited Financial Statements
31 March 2025
Jay Trim Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
1,715,247
1,830,034
Current assets
Stocks
42,112
64,988
Debtors
6
74,640
360,726
Cash at bank and in hand
624,475
139,160
----------
----------
741,227
564,874
Creditors: amounts falling due within one year
7
144,579
274,319
----------
----------
Net current assets
596,648
290,555
-------------
-------------
Total assets less current liabilities
2,311,895
2,120,589
Creditors: amounts falling due after more than one year
8
277,539
Provisions
Taxation including deferred tax
8,884
11,855
-------------
-------------
Net assets
2,303,011
1,831,195
-------------
-------------
Jay Trim Limited
Statement of Financial Position (continued)
31 March 2025
2025
2024
Note
£
£
Capital and reserves
Called up share capital
4,628
4,628
Capital redemption reserve
17,818
17,818
Profit and loss account
2,280,565
1,808,749
-------------
-------------
Shareholders funds
2,303,011
1,831,195
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
Mr Neil J Forrester
Director
Company registration number: 01541150
Jay Trim Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Clinton Avenue, Nottingham, NG5 1AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and Buildings
-
1% straight line
Plant and Machinery etc
-
10 - 25% reducing balance / Straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2024: 10 ).
5. Tangible assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 April 2024
1,852,469
197,492
2,049,961
Disposals
( 140,469)
( 140,469)
-------------
----------
-------------
At 31 March 2025
1,712,000
197,492
1,909,492
-------------
----------
-------------
Depreciation
At 1 April 2024
71,931
147,996
219,927
Charge for the year
17,120
12,009
29,129
Disposals
( 54,811)
( 54,811)
-------------
----------
-------------
At 31 March 2025
34,240
160,005
194,245
-------------
----------
-------------
Carrying amount
At 31 March 2025
1,677,760
37,487
1,715,247
-------------
----------
-------------
At 31 March 2024
1,780,538
49,496
1,830,034
-------------
----------
-------------
6. Debtors
2025
2024
£
£
Trade debtors
66,709
59,938
Other debtors
7,931
300,788
---------
----------
74,640
360,726
---------
----------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
20,686
Trade creditors
113,058
193,421
Corporation tax
43,488
Social security and other taxes
14,733
Other creditors
16,788
16,724
----------
----------
144,579
274,319
----------
----------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
277,539
----
----------
9. Related party transactions
The company is controlled by Neil Forrester, the company's managing director.