Jide Ltd

Financial Statements for the Year Ended 30 November 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A O Akanbi

REGISTERED OFFICE:

3 Grampian Place

Stevenage

Hertfordshire

SG1 6DR

REGISTERED NUMBER:

07436702 (England and Wales)

ACCOUNTANTS:

Hargreaves Owen Ltd

Chartered Certified Accountants

Red Sky House

Fairclough Hall, Halls Green

Weston

Hertfordshire

SG4 7DP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

99

191

99

191

CURRENT ASSETS

Debtors

6

1,725

10,894

Cash at bank

8,930

597

10,655

11,491

CREDITORS

Amounts falling due within one year

7

51,133

43,392

NET CURRENT LIABILITIES

(40,478

)

(31,901

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(40,379

)

(31,710

)

CREDITORS

Amounts falling due after more than one year

8

13,412

16,765

NET LIABILITIES

(53,791

)

(48,475

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(53,793

)

(48,477

)

SHAREHOLDERS' FUNDS

(53,791

)

(48,475

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 April 2026 and were signed by:

Mr A O Akanbi - Director

1.	STATUTORY INFORMATION

Jide Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered to be valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

The franchise fee and computer software costs are now fully amortised

Computer software

Was amortised over its estimated useful life of 5 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

Computer

fee

software

Totals

£

£

£

COST

At 1 December 2023

and 30 November 2024

25,995

2,795

28,790

AMORTISATION

At 1 December 2023

and 30 November 2024

25,995

2,795

28,790

NET BOOK VALUE

At 30 November 2024

-

-

-

At 30 November 2023

-

-

-

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 December 2023

and 30 November 2024

458

1,568

2,026

DEPRECIATION

At 1 December 2023

447

1,388

1,835

Charge for year

3

89

92

At 30 November 2024

450

1,477

1,927

NET BOOK VALUE

At 30 November 2024

8

91

99

At 30 November 2023

11

180

191

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

1,240

Other debtors

1,725

1,725

Tax

-

6,343

VAT

-

1,586

1,725

10,894

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

27,166

31,890

Capital on Tap loan

7,665

11,609

Trade creditors

2,000

-

PAYE

(347

)

(361

)

VAT

5,461

-

Directors' current accounts

9,188

254

51,133

43,392

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

13,412

16,765

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024

2023

£

£

Mr A O Akanbi

Balance outstanding at start of year

-

19,135

Amounts repaid

-

(19,135

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

10.	GOING CONCERN

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. The loss for the period was £5,316 and at the balance sheet date the company had net liabilities of £53,791 and net current liabilities of £40,379. The validity of this basis depends upon the continued support of the company's creditors. The directors are not aware of any reason why continued support from creditors should not be forthcoming.