Jake Wright Antiques Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10020084 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

Jake Wright Antiques Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J J Wright

REGISTERED OFFICE:

Williams Farmhouse

Blackwell

Shipston-On-Stour

Warwickshire

CV36 4PE

REGISTERED NUMBER:

10020084 (England and Wales)

ACCOUNTANTS:

Tayabali Tomlin

Chartered Accountants

Kenton House

Oxford Street

Moreton-in-Marsh

Gloucestershire

GL56 0LA

FIXED ASSETS

Tangible assets

4

842

514

CURRENT ASSETS

Stocks

105,683

87,828

Debtors

5

12,515

14,650

Cash at bank

28,169

30,868

146,367

133,346

CREDITORS

Amounts falling due within one year

6

29,123

78,088

NET CURRENT ASSETS

117,244

55,258

TOTAL ASSETS LESS CURRENT LIABILITIES

118,086

55,772

CREDITORS

Amounts falling due after more than one year

7

(43,622

)

-

PROVISIONS FOR LIABILITIES

(160

)

-

NET ASSETS

74,304

55,772

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

74,294

55,762

74,304

55,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 31 December 2021 and were signed by:

J J Wright - Director

1.	STATUTORY INFORMATION

Jake Wright Antiques 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2020

693

-

693

Additions

-

540

540

At 30 April 2021

693

540

1,233

DEPRECIATION

At 1 May 2020

179

-

179

Charge for year

77

135

212

At 30 April 2021

256

135

391

NET BOOK VALUE

At 30 April 2021

437

405

842

At 30 April 2020

514

-

514

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

12,515

13,950

Other debtors

-

700

12,515

14,650

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

6,378

-

Trade creditors

6,175

-

Taxation and social security

9,273

6,501

Other creditors

7,297

71,587

29,123

78,088

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

43,622

-

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2020 - £2,000) were paid to the director .