Jasper Morrison Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03454208 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

JASPER MORRISON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J Morrison

REGISTERED OFFICE:

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

REGISTERED NUMBER:

03454208 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Intangible assets

4

1,170,000

1,560,000

Tangible assets

5

929,608

936,858

2,099,608

2,496,858

CURRENT ASSETS

Stocks

6

37,065

37,065

Debtors

7

366,949

325,395

Cash at bank and in hand

2,148,629

1,565,786

2,552,643

1,928,246

CREDITORS

Amounts falling due within one year

8

1,377,767

1,422,636

NET CURRENT ASSETS

1,174,876

505,610

TOTAL ASSETS LESS CURRENT LIABILITIES

3,274,484

3,002,468

CREDITORS

Amounts falling due after more than one year

9

269,810

296,157

NET ASSETS

3,004,674

2,706,311

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

3,004,574

2,706,211

SHAREHOLDERS' FUNDS

3,004,674

2,706,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2023 and were signed by:

Mr J Morrison - Director

1.	STATUTORY INFORMATION

Jasper Morrison 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.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Royalty licences are being amortised evenly over their estimated useful life of ten years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Archived designs

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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 Statement of Income and Retained Earnings, 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.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

Cost

At 1 April 2022

and 31 March 2023

3,900,000

Amortisation

At 1 April 2022

2,340,000

Amortisation for year

390,000

At 31 March 2023

2,730,000

Net book value

At 31 March 2023

1,170,000

At 31 March 2022

1,560,000

5.	TANGIBLE FIXED ASSETS

Freehold

Short

Archived

property

leasehold

designs

£

£

£

Cost

At 1 April 2022

1,293,184

8,875

138,780

Additions

-

-

-

At 31 March 2023

1,293,184

8,875

138,780

Depreciation

At 1 April 2022

430,790

8,875

73,095

Charge for year

25,863

-

27,756

At 31 March 2023

456,653

8,875

100,851

Net book value

At 31 March 2023

836,531

-

37,929

At 31 March 2022

862,394

-

65,685

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 April 2022

2,889

-

17,883

1,461,611

Additions

12,087

43,000

3,511

58,598

At 31 March 2023

14,976

43,000

21,394

1,520,209

Depreciation

At 1 April 2022

869

-

11,124

524,753

Charge for year

2,276

5,180

4,773

65,848

At 31 March 2023

3,145

5,180

15,897

590,601

Net book value

At 31 March 2023

11,831

37,820

5,497

929,608

At 31 March 2022

2,020

-

6,759

936,858

Freehold property is held under mortgage finance.

6.

STOCKS

2023

2022

£

£

Stocks

37,065

37,065

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

109,950

81,311

Other debtors

256,999

244,084

366,949

325,395

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts (see note 10)

26,347

26,347

Trade creditors

2,142

4,007

Taxation and social security

75,341

39,529

Other creditors

1,273,937

1,352,753

1,377,767

1,422,636

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans (see note 10)

269,810

296,157

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

138,075

184,653

10.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due within one year or on demand:

Bank loans

26,347

26,347

Amounts falling due between one and two years:

Bank loans - 1-2 years

52,694

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

79,041

111,504

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

138,075

184,653

11.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

296,157

322,504

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

1

100

100