JXK Limited Filleted accounts for Companies House (small and micro)

14 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,000 1,999 1 1 xbrli:pure xbrli:shares iso4217:GBP 08460244 2022-04-01 2023-03-31 08460244 2023-03-31 08460244 2022-03-31 08460244 2021-04-01 2022-03-31 08460244 2022-03-31 08460244 2021-03-31 08460244 bus:Director1 2022-04-01 2023-03-31 08460244 bus:Director2 2022-04-01 2023-03-31 08460244 core:NetGoodwill 2023-03-31 08460244 core:LandBuildings 2022-03-31 08460244 core:MotorVehicles 2022-03-31 08460244 core:LandBuildings 2023-03-31 08460244 core:PlantMachinery 2023-03-31 08460244 core:FurnitureFittings 2023-03-31 08460244 core:MotorVehicles 2023-03-31 08460244 core:PlantMachinery 2022-04-01 2023-03-31 08460244 core:FurnitureFittings 2022-04-01 2023-03-31 08460244 core:MotorVehicles 2022-04-01 2023-03-31 08460244 core:WithinOneYear 2023-03-31 08460244 core:WithinOneYear 2022-03-31 08460244 core:AfterOneYear 2023-03-31 08460244 core:AfterOneYear 2022-03-31 08460244 core:ShareCapital 2023-03-31 08460244 core:ShareCapital 2022-03-31 08460244 core:RetainedEarningsAccumulatedLosses 2023-03-31 08460244 core:RetainedEarningsAccumulatedLosses 2022-03-31 08460244 core:NetGoodwill 2022-03-31 08460244 core:LandBuildings 2022-03-31 08460244 core:MotorVehicles 2022-03-31 08460244 bus:SmallEntities 2022-04-01 2023-03-31 08460244 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08460244 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08460244 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08460244 bus:FullAccounts 2022-04-01 2023-03-31 08460244 core:NetGoodwill 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 08460244

JXK Limited

Filleted Unaudited Financial Statements

31 March 2023

JXK Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Intangible assets	5	1	1
Tangible assets	6	65,754	33,910
		--------	--------
		65,755	33,911

Current assets

Stocks		358,000	225,000
Debtors	7	393,963	200,942
Cash at bank and in hand		71,013	651,265
		---------	------------
		822,976	1,077,207

Creditors: amounts falling due within one year	8	630,664		800,092
		---------		------------
Net current assets			192,312	277,115
			---------	---------
Total assets less current liabilities			258,067	311,026

Creditors: amounts falling due after more than one year	9	83,510	167,665
		---------	---------
Net assets		174,557	143,361
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	174,457	143,261
	---------	---------
Shareholders funds	174,557	143,361
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

JXK Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 12 December 2023 , and are signed on behalf of the board by:

Ms A I Carreira	Mr D Budino Varela
Director	Director

Company registration number: 08460244

JXK Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/o N K Ting & Co, 10 Chester Drive, North Harrow, Middlesex, HA2 7PU, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Write off in First Year

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	10% on Cost
Cost	-	25% on Cost
Motor Vehicles	-	25% on Cost
Equipment	-	`25% on Cost`

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2022: 12 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2022 and 31 March 2023	2,000
	-------
Amortisation
At 1 April 2022 and 31 March 2023	1,999
	-------
Carrying amount
At 31 March 2023	1
	-------
At 31 March 2022	1
	-------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2022	18,014	–	–	70,894	–	88,908
Additions	–	33,251	2,273	–	642	36,166
	--------	--------	-------	--------	----	---------
At 31 Mar 2023	18,014	33,251	2,273	70,894	642	125,074
	--------	--------	-------	--------	----	---------
Depreciation
At 1 Apr 2022	–	–	–	54,998	–	54,998
Charge for the year	–	–	568	3,594	160	4,322
	--------	--------	-------	--------	----	---------
At 31 Mar 2023	–	–	568	58,592	160	59,320
	--------	--------	-------	--------	----	---------
Carrying amount
At 31 Mar 2023	18,014	33,251	1,705	12,302	482	65,754
	--------	--------	-------	--------	----	---------
At 31 Mar 2022	18,014	–	–	15,896	–	33,910
	--------	--------	-------	--------	----	---------

7. Debtors

	2023	2022
	£	£
Trade debtors	221,042	185,404
Other debtors	172,921	15,538
	---------	---------
	393,963	200,942
	---------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	34,836	44,481
Trade creditors	435,271	242,616
Corporation tax	58,091	53,920
Social security and other taxes	16,000	67,036
Other creditors	86,466	392,039
	---------	---------
	630,664	800,092
	---------	---------

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	8,318	45,165
Social security and other taxes	10,825	17,320
Other creditors	64,367	105,180
	--------	---------
	83,510	167,665
	--------	---------