Company No: 10757261 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2024		29.06.2023
		£		£
Fixed assets
Intangible assets	3	1,875		0
Tangible assets	4	5,832		4,267
		7,707		4,267
Current assets
Stocks	5	404,430		443,126
Debtors	6	1,270,036		699,088
Cash at bank and in hand		184,186		457,973
		1,858,652		1,600,187
Creditors: amounts falling due within one year	7	( 1,830,806)		( 2,484,327)
Net current assets/(liabilities)		27,846		(884,140)
Total assets less current liabilities		35,553		(879,873)
Net assets/(liabilities)		35,553		( 879,873)
Capital and reserves
Called-up share capital	8	100		100
Share premium account		527,137		527,137
Profit and loss account		( 491,684 )		( 1,407,110 )
Total shareholder's funds/(deficit)		35,553		( 879,873)

For the financial period 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 member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Jay Franco Europe Limited (registered number: 10757261) were approved and authorised for issue by the Board of Directors on 22 December 2025. They were signed on its behalf by:

J A Franco Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jay Franco Europe Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor 2 Collingwood Street, Newcastle upon Tyne, NE1 1JF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Jay Franco Europe Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Reporting period length

The current financial reporting period covers 18 months, from 30 June 2023 to 29 December 2024, following an extension of the company’s reporting cycle. The previous reporting period covered 12 months, from 1 July 2022 to 29 June 2023.

This extension was made to align the reporting period with the parent company.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	Period from 30.06.2023 to 31.12.2024		Year ended 29.06.2023
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	6		4

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 30 June 2023	0		0
Additions	2,500		2,500
At 31 December 2024	2,500		2,500
Accumulated amortisation
At 30 June 2023	0		0
Charge for the financial period	625		625
At 31 December 2024	625		625
Net book value
At 31 December 2024	1,875		1,875
At 29 June 2023	0		0

4. Tangible assets

	Office equipment		Total
	£		£
Cost
At 30 June 2023	6,080		6,080
Additions	3,982		3,982
At 31 December 2024	10,062		10,062
Accumulated depreciation
At 30 June 2023	1,813		1,813
Charge for the financial period	2,417		2,417
At 31 December 2024	4,230		4,230
Net book value
At 31 December 2024	5,832		5,832
At 29 June 2023	4,267		4,267

5. Stocks

	31.12.2024		29.06.2023
	£		£
Stocks	404,430		443,126

6. Debtors

	31.12.2024		29.06.2023
	£		£
Trade debtors	790,941		268,439
Amounts owed by Group undertakings	162,801		55,707
Prepayments	20,120		104,893
Other debtors	296,174		270,049
	1,270,036		699,088

7. Creditors: amounts falling due within one year

	31.12.2024		29.06.2023
	£		£
Trade creditors	48,702		564,131
Amounts owed to Group undertakings	1,286,822		1,874,975
Accruals	433,448		12,784
Taxation and social security	58,401		6,275
Other creditors	3,433		26,162
	1,830,806		2,484,327

8. Called-up share capital

	31.12.2024		29.06.2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	31.12.2024		29.06.2023
	£		£
within one year	68,280		49,750
between one and five years	0		29,750
Total future minimum lease payments under non-cancellable operating leases	68,280		79,500

The amount of non-cancellable operating lease payments recognised as an expense during the period was £77,950 (2023 - £48,000).