Jennah Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% straight line
Equipment, fixtures and fittings	25% reducing balance
Motor Vehicles	25% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Jennah Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Investments in subsidiaries

Investments in subsidiaries are recorded at cost less accumulated impairment losses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 105 (2023: 103)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	48,648

As at 31 December 2024	48,648

Amortisation
As at 1 January 2024	48,648

As at 31 December 2024	48,648

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Tangible Assets

	Land & Property
	Leasehold	Equipment, fixtures and fittings	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 January 2024	95,302	725,095	277,810	1,098,207
Additions	-	2,776	-	2,776

As at 31 December 2024	95,302	727,871	277,810	1,100,983

Depreciation
As at 1 January 2024	67,513	591,289	162,010	820,812
Provided during the period	9,530	34,145	28,950	72,625

As at 31 December 2024	77,043	625,434	190,960	893,437

Net Book Value
As at 31 December 2024	18,259	102,437	86,850	207,546

As at 1 January 2024	27,789	133,806	115,800	277,395

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Jennah Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2024	2,990,323

As at 31 December 2024	2,990,323

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	2,990,323

As at 1 January 2024	2,990,323

Fixed asset investments comprise equity shares in Pizzabase Limited, and Pizzapie Limited, neither of which are publicly traded.

Pizzabase Limited

The company owns 51% of the equity share capital of Pizzabase Limited (2021 - 0%). During the year the company received dividends of £131,365 from Pizzabase Limited (2023 - £90,000). Pizzabase Limited was incorporated in the Isle of Man, and its registered office is Lezayre, Quarterbridge Road, Douglas, IM2 3RG, Isle of Man.

Pizzapie Limited

The company owns 51% of the equity share capital of Pizzapie Limited (2021 - 0%). During the year the company received dividends of £230,000 from Pizzapie Limited (2023 - £250,000). Pizzapie Limited was incorporated inJersey, and its registered office is First Floor, La Chasse Chambers, Ten La Chasse, St Helier, JE2 4UE, Jersey.

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	33,472	56,766
Prepayments and accrued income	11,499	11,257
S455 Tax Debtor	13,423	13,423
Other debtors	13,500	13,500
Directors' loan accounts	-	38,070

	71,894	133,016

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	37,795	64,338
Bank loans and overdrafts	359,000	409,000
PAYE creditor	15,145	14,132
VAT creditor	128,053	99,596
Wages creditor	29,807	16,087
Pension creditor	634	1,292
Credit card	599	2,698
Accruals and deferred income	-	59,985
Directors' loan accounts	66	-

	571,099	667,128

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Jennah Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	1,817,273	2,203,132

10. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	2,176,273		2,612,132

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

12. Other Commitments

At the end of the period the company had annual commitments under non-cancellable leases as follows:

	2024	2023
	£	£
Not later than one year	56,780	47,500
Later than one year and not later than five years	131,143	106,667
Later than five years	19,500	32,500

	207,423	186,667

13. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr James Salt	38,070	300	(38,370 )	-	-

The above loan is unsecured and interest free and was repaid during the period.

14. Related Party Transactions

The company is controlled by Mr J Salt & Mr H Salt, directors and shareholders of the company.

The company has given a cross gaurantee in respect of it's borrowings.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		207,546		277,395
Investments	6		2,990,323		2,990,323

			3,197,869		3,267,718
CURRENT ASSETS
Stocks		20,832		25,530
Debtors	7	71,894		133,016
Cash at bank and in hand		176,008		269,687

		268,734		428,233
Creditors: Amounts Falling Due Within One Year	8	(571,099 )		(667,128 )

NET CURRENT ASSETS (LIABILITIES)			(302,365 )		(238,895 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,895,504		3,028,823

Creditors: Amounts Falling Due After More Than One Year	9		(1,817,273 )		(2,203,132 )

NET ASSETS			1,078,231		825,691

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			1,078,131		825,591

SHAREHOLDERS' FUNDS			1,078,231		825,691