Registration number: 02193788

Jeff Ludgate Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Jeff Ludgate Limited

(Registration number: 02193788)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	15,312	21,462
Current assets
Debtors	5	194	6,605
Cash at bank and in hand		42,984	47,494
		43,178	54,099
Creditors: Amounts falling due within one year	6	(6,884)	(4,489)
Net current assets		36,294	49,610
Net assets		51,606	71,072
Capital and reserves
Called up share capital	7	1,000	1,000
Profit and loss account		50,606	70,072
Shareholders' funds		51,606	71,072

For the financial year ending 31 December 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.

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 September 2025 and signed on its behalf by:
 

......................................... M Ludgate Director

Jeff Ludgate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
C/O Sterlings Ltd
Lawford House
Albert Place
London
N3 1QA
England

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover represents commissions and fees received for the year.

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.

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 corporation 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.

Jeff Ludgate Limited

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

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
Fixtures, fittings & equipment	20% Reducing balance
Motor vehicles	20% Straight line

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.

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.

Jeff Ludgate Limited

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

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 5 (2023 - 5).

4	Tangible assets

	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	51,310	118,218	169,528
Additions	1,029	-	1,029
At 31 December 2024	52,339	118,218	170,557
Depreciation
At 1 January 2024	48,979	99,087	148,066
Charge for the year	802	6,377	7,179
At 31 December 2024	49,781	105,464	155,245
Carrying amount
At 31 December 2024	2,558	12,754	15,312
At 31 December 2023	2,331	19,131	21,462

5

Debtors

Current	2024 £	2023 £
Prepayments	194	23
Other debtors	-	6,582
	194	6,605

Jeff Ludgate Limited

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

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	-	2,377
Accruals and deferred income	-	2,070
Other creditors	6,884	42
	6,884	4,489

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary share of £1 each	1,000	1,000	1,000	1,000

8	Related party transactions

At the balance sheet date, included within other debtors is an amount of £NIL (2023 - £890 ) owed by the company's directors. The loans are provided interest free. There are no formal terms and conditions regarding repayment of the loans.

At the balance sheet date, included within other creditors is an amount of £199 (2023 - £NIL ) owed to the company's directors. The loans are provided interest free. There are no formal terms and conditions regarding repayment of the loans.

Included within other debtors is an amount of £NIL (2023- £4,880) owed by a related partnership in which the director have a beneficial interest.The loan is provided interest free and unsecured. There are no formal terms and conditions regarding repayment of loan.