Jaape Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Jaape Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07555836 . The registered office is Castle Court 1 Castle Street, Portchester, Fareham, PO16 9QD.

2. Accounting Policies

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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Plant & Machinery	20% reducing balance
Motor Vehicles	20% reducing balance

2.4. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Jaape Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Trade and Other Debtors and Creditors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Borrowings, Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and

similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of

the liability for at least twelve months after the reporting date.

2.6. 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

2.7. Share Capital and Dividends

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.

Dividend distribution to the company's shareholders is recognised as a liability in the finanical statements in the reporting period in which the dividends are declared.

2.8. Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant

borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 April 2024	2,289	6,044	8,333

As at 31 March 2025	2,289	6,044	8,333

...CONTINUED

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Jaape Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	1,877	5,030	6,907
Provided during the period	82	203	285

As at 31 March 2025	1,959	5,233	7,192

Net Book Value
As at 31 March 2025	330	811	1,141

As at 1 April 2024	412	1,014	1,426

5. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	93,137	88,147

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	2,888
Bank loans and overdrafts	1,775	1,727
Other creditors	1,495	1,998
Taxation and social security	16,104	14,549

	19,374	21,162

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

	2025	2024
	£	£
Bank loans	20	1,782

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Jeff Aitken	24,060	43,200	(48,654 )	-	18,606

The above loan is undated, unsecured, interest free and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,141		1,426

			1,141		1,426
CURRENT ASSETS
Debtors	5	93,137		88,147
Cash at bank and in hand		3,491		3,322

		96,628		91,469
Creditors: Amounts Falling Due Within One Year	6	(19,374 )		(21,162 )

NET CURRENT ASSETS (LIABILITIES)			77,254		70,307

TOTAL ASSETS LESS CURRENT LIABILITIES			78,395		71,733

Creditors: Amounts Falling Due After More Than One Year	7		(20 )		(1,782 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(222 )		(271 )

NET ASSETS			78,153		69,680

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			78,151		69,678

SHAREHOLDERS' FUNDS			78,153		69,680