Registration number: 09489024

J G Varley Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

J G Varley Limited

Company Information

Director

Miss M E Varley

Registered office

39 High Street Battle East Sussex TN33 0EE

Accountants

Manningtons 39 High Street Battle East Sussex TN33 0EE

J G Varley Limited

(Registration number: 09489024)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	20,009	23,190
Current assets
Stocks	5	6,000	5,000
Debtors	6	13,436	10,996
Cash at bank and in hand		11,393	17,954
		30,829	33,950
Creditors: Amounts falling due within one year	7	(149,555)	(151,131)
Net current liabilities		(118,726)	(117,181)
Net liabilities		(98,717)	(93,991)
Capital and reserves
Called up share capital		1	1
Retained earnings		(98,718)	(93,992)
Shareholders' deficit		(98,717)	(93,991)

For the financial 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.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 December 2025
 

......................................... Miss M E Varley Director

J G Varley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
39 High Street
Battle
East Sussex
TN33 0EE
England

The principal place of business is:
69 Mare Street
Hackney
London
E8 4RD

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 presentation currency of the financial statements is the Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of food, drink and other goods 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.

J G Varley Limited

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

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
Leasehold property	Straight line basis over 15 years
Fixtures, fittings and equipment	15% per annum reducing balance basis
Office equipment	25% per annum reducing balance basis

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.

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

J G Varley Limited

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

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 the director) during the year, was 4 (2024 - 4).

J G Varley Limited

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

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	41,637	6,022	47,659
At 31 March 2025	41,637	6,022	47,659
Depreciation
At 1 April 2024	20,820	3,649	24,469
Charge for the year	2,776	405	3,181
At 31 March 2025	23,596	4,054	27,650
Carrying amount
At 31 March 2025	18,041	1,968	20,009
At 31 March 2024	20,817	2,373	23,190

Included within the net book value of land and buildings above is £18,041 (2024 - £20,817) in respect of short leasehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Stock of goods	6,000	5,000

6

Debtors

	2025 £	2024 £
Trade debtors	1,171	-
Taxation and social security	377	33
Prepayments	4,388	3,463
Other debtors	7,500	7,500
	13,436	10,996

J G Varley Limited

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

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	11,447	13,132
Taxation and social security	2,927	2,342
Accruals and deferred income	2,800	2,700
Other creditors	83	1,909
Director's loan account	132,298	131,048
	149,555	151,131

The company relies upon the continued support of its director.

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	19,000	15,000
Later than one year and not later than five years	76,000	60,000
Later than five years	28,500	37,500
	123,500	112,500

The amount of non-cancellable operating lease payments recognised as an expense during the year was £17,076 (2024 - £15,000).