Jaycode Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05166032 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Jaycode Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

M T O'Connell

REGISTERED OFFICE:

Hedgerows

Heronway

Hutton Mount

Brentwood

Essex

CM13 2LX

REGISTERED NUMBER:

05166032 (England and Wales)

ACCOUNTANTS:

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

FIXED ASSETS

Tangible assets

4

6,446

8,308

Investment property

5

320,000

320,000

326,446

328,308

CURRENT ASSETS

Stocks

6

-

308,926

Debtors

7

56,907

29,021

Investments

8

736,993

428,408

Cash at bank and in hand

12,087

21,045

805,987

787,400

CREDITORS

Amounts falling due within one year

9

32,541

134,951

NET CURRENT ASSETS

773,446

652,449

TOTAL ASSETS LESS CURRENT LIABILITIES

1,099,892

980,757

CREDITORS

Amounts falling due after more than one year

10

(44,483

)

-

PROVISIONS FOR LIABILITIES

(1,142

)

(1,579

)

NET ASSETS

1,054,267

979,178

CAPITAL AND RESERVES

Called up share capital

11

1

1

Retained earnings

1,054,266

979,177

SHAREHOLDERS' FUNDS

1,054,267

979,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 20 September 2021 and were signed by:

M T O'Connell - Director

1.	STATUTORY INFORMATION

Jaycode 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts in respect of rents charged and services supplied during the year.

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 reducing balance and 25% on reducing balance

Government grants

Government grants in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Investments in subsidiaries

Investments are recognised at cost, less impairment.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.yearIncome Statement

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 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

17,584

Additions

583

At 31 December 2020

18,167

DEPRECIATION

At 1 January 2020

9,276

Charge for year

2,445

At 31 December 2020

11,721

NET BOOK VALUE

At 31 December 2020

6,446

At 31 December 2019

8,308

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

320,000

NET BOOK VALUE

At 31 December 2020

320,000

At 31 December 2019

320,000

Fair value at 31 December 2020 is represented by:

£

Valuation in 2020

320,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.20

31.12.19

£

£

Cost

320,000

320,000

Investment property was valued on a fair value basis on 31 December 2020 by M T O'Connell, director of the company .

6.

STOCKS

31.12.20

31.12.19

£

£

Work-in-progress

-

308,926

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

1,325

3,688

Other debtors

55,582

25,333

56,907

29,021

8.	CURRENT ASSET INVESTMENTS

31.12.20

31.12.19

£

£

Joint venture

736,993

428,408

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

5,517

-

Trade creditors

3,156

-

Taxation and social security

18,448

-

Other creditors

5,420

134,951

32,541

134,951

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

44,483

-

31.12.20

31.12.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,409

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

1

Ordinary

£1

1

1

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

31.12.20

31.12.19

£

£

M T O'Connell

Balance outstanding at start of year

(128,229

)

5,823

Amounts advanced

301,792

18,449

Amounts repaid

(151,828

)

(152,501

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,735

(128,229

)

Interest is charged on the loan at the HMRC approved rate of interest. No terms are attached to the loan.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jaycode Ltd for the year ended 31 December 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Jaycode Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jaycode Ltd and state those matters that we have agreed to state to the director of Jaycode Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jaycode Ltd and its director for our work or for this report.

It is your duty to ensure that Jaycode Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jaycode Ltd. You consider that Jaycode Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jaycode Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

20 September 2021