James & Jake Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09421027 (England and Wales)

Financial Statements

for the Year Ended 28 February 2022

for

JAMES & JAKE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S L Hood

J Hood

SECRETARY:

REGISTERED OFFICE:

1 Wells Close

Horsham

West Sussex

West Sussex

RH12 1US

REGISTERED NUMBER:

09421027 (England and Wales)

ACCOUNTANTS:

Churchmill Partnership Limited

Brook House

Mint Street

Godalming

Surrey

GU7 1HE

FIXED ASSETS

Tangible assets

4

-

1

CURRENT ASSETS

Stocks

22,000

32,000

Debtors

5

1,090

7,434

Cash at bank

1,298

3,481

24,388

42,915

CREDITORS

Amounts falling due within one year

6

125,278

106,295

NET CURRENT LIABILITIES

(100,890

)

(63,380

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(100,890

)

(63,379

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(100,891

)

(63,380

)

SHAREHOLDERS' FUNDS

(100,890

)

(63,379

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 November 2022 and were signed on its behalf by:

J Hood - Director

1.	STATUTORY INFORMATION

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

Turnover

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

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 etc

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2021

and 28 February 2022

108

DEPRECIATION

At 1 March 2021

107

Charge for year

1

At 28 February 2022

108

NET BOOK VALUE

At 28 February 2022

-

At 28 February 2021

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade debtors

1,090

7,434

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade creditors

14

776

Taxation and social security

695

1,554

Other creditors

124,569

103,965

125,278

106,295