JSS (South Manchester) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03707069 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

JSS (SOUTH MANCHESTER) LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

C Harris

S Cheshire

SECRETARY:

S Cheshire

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

03707069 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors 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 Directors 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 JSS (South Manchester) Limited for the year ended 31 July 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of JSS (South Manchester) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JSS (South Manchester) Limited and state those matters that we have agreed to state to the Board of Directors of JSS (South Manchester) Limited, as a body, 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 JSS (South Manchester) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JSS (South Manchester) Limited 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 JSS (South Manchester) Limited. You consider that JSS (South Manchester) Limited 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 JSS (South Manchester) Limited. 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

21 July 2023

FIXED ASSETS

Intangible assets

4

38,500

47,500

Tangible assets

5

91,245

109,990

Investments

6

9,000

9,000

138,745

166,490

CURRENT ASSETS

Stocks

2,750

2,750

Debtors

7

443,102

402,360

Cash at bank and in hand

1,215,492

1,155,449

1,661,344

1,560,559

CREDITORS

Amounts falling due within one year

8

396,949

478,788

NET CURRENT ASSETS

1,264,395

1,081,771

TOTAL ASSETS LESS CURRENT LIABILITIES

1,403,140

1,248,261

CREDITORS

Amounts falling due after more than one year

9

(206,550

)

(288,910

)

PROVISIONS FOR LIABILITIES

11

(7,670

)

(7,205

)

NET ASSETS

1,188,920

952,146

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Retained earnings

1,187,920

951,146

SHAREHOLDERS' FUNDS

1,188,920

952,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 21 July 2023 and were signed on its behalf by:

C Harris - Director

1.	STATUTORY INFORMATION

JSS (South Manchester) Limited 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.

Turnover is recognised when either property is exchanged or services are rendered.

Goodwill

Goodwill, being the amount paid in connection with the acquisitions of businesses, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed asset investments are included at cost.

Government grants

Government grants are accounted for under the accruals method, with those in relation to expenditure credited when the expenditure is charged to the profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2021

and 31 July 2022

200,000

AMORTISATION

At 1 August 2021

152,500

Charge for year

9,000

At 31 July 2022

161,500

NET BOOK VALUE

At 31 July 2022

38,500

At 31 July 2021

47,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2021

and 31 July 2022

97,646

60,612

47,019

11,552

216,829

DEPRECIATION

At 1 August 2021

32,761

37,971

24,954

11,153

106,839

Charge for year

9,733

3,396

5,516

100

18,745

At 31 July 2022

42,494

41,367

30,470

11,253

125,584

NET BOOK VALUE

At 31 July 2022

55,152

19,245

16,549

299

91,245

At 31 July 2021

64,885

22,641

22,065

399

109,990

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 August 2021

and 31 July 2022

9,000

NET BOOK VALUE

At 31 July 2022

9,000

At 31 July 2021

9,000

Investment is held in On The Market with a minority shareholding.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

221,679

211,469

Other debtors

221,423

190,891

443,102

402,360

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

63,368

46,110

Hire purchase contracts (see note 10)

8,128

8,947

Trade creditors

28,837

55,289

Taxation and social security

238,002

292,022

Other creditors

58,614

76,420

396,949

478,788

Included within bank loans and overdrafts due in less than one year is a £27,368 (2021:£18,332) secured by a Svenska Handelsbanken mortgage debenture.

Also included within bank loans and overdrafts due in less than one year is a £36,000 (2021: £27,777) CBILS Loan secured by Svenska Handelsbanken and in part by the HMRC Government Guarantee.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

194,534

271,562

Hire purchase contracts (see note 10)

12,016

17,348

206,550

288,910

Included within bank loans and overdrafts due in more than one year is a £61,227 (2021:£99,340) secured by a Svenska Handelsbanken mortgage debenture.

Also included within bank loans and overdrafts due in less than one year is a £133,307 (2021:£172,222) CBILS Loan secured by Svenska Handelsbanken and in part by the HMRC Government Guarantee.

10.	LEASING AGREEMENTS

As at 31 July 2022 the company had future minimum lease payments under non-cancellable operating leases totalling £99,780 (2021:£62,893).

The hire purchase liabilities are secured on the assets to which they relate.

11.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

7,670

7,205

Deferred

tax

£

Balance at 1 August 2021

7,205

Accelerated capital allowances

465

Balance at 31 July 2022

7,670

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

700

Ordinary A

£1

700

700

300

Ordinary B

£1

300

300

1,000

1,000

All shares have equal rights and rank pari passu on liquidation.

13.	PENSION COMMITMENTS

As at the year end, £0 (2021: £46) was owed to the pension fund.

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the directors owed £148,771 (2021:£119,059). During the year £238,588 (2021:£172,962) was advanced and £208,876 (2021: £189,393) was repaid. Included in advances is a balance of £3,707 (2021: £3,542) interest on this loan.

15.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.