J&E Traders Ltd Filleted accounts for Companies House (small and micro)

J&E Traders Ltd Filleted accounts for Companies House (small and micro)

J&E TRADERS LIMITED - Company Information

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1 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 2021 - FRS102_2021 28,609 1,098 29,707 11,206 3,700 14,906 14,801 17,403 xbrli:pure xbrli:shares iso4217:GBP 10663759 2022-04-01 2023-03-31 10663759 2023-03-31 10663759 2022-03-31 10663759 2021-04-01 2022-03-31 10663759 2022-03-31 10663759 core:FurnitureFittings 2022-04-01 2023-03-31 10663759 bus:Director2 2022-04-01 2023-03-31 10663759 core:FurnitureFittings 2022-03-31 10663759 core:FurnitureFittings 2023-03-31 10663759 core:WithinOneYear 2023-03-31 10663759 core:WithinOneYear 2022-03-31 10663759 core:AfterOneYear 2023-03-31 10663759 core:AfterOneYear 2022-03-31 10663759 core:ShareCapital 2023-03-31 10663759 core:ShareCapital 2022-03-31 10663759 core:RetainedEarningsAccumulatedLosses 2023-03-31 10663759 core:RetainedEarningsAccumulatedLosses 2022-03-31 10663759 core:FurnitureFittings 2022-03-31 10663759 bus:Director2 2022-03-31 10663759 bus:Director2 2023-03-31 10663759 bus:Director2 2021-03-31 10663759 bus:Director2 2022-03-31 10663759 bus:Director2 2021-04-01 2022-03-31 10663759 bus:SmallEntities 2022-04-01 2023-03-31 10663759 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10663759 bus:FullAccounts 2022-04-01 2023-03-31 10663759 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10663759 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 10663759
J&E Traders Ltd
Filleted Unaudited Financial Statements
31 March 2023
J&E Traders Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
14,801
17,403
Current assets
Stocks
57,126
49,523
Debtors
6
2,250
35,250
Cash at bank and in hand
28,336
11,695
--------
--------
87,712
96,468
Creditors: amounts falling due within one year
7
62,341
55,121
--------
--------
Net current assets
25,371
41,347
--------
--------
Total assets less current liabilities
40,172
58,750
Creditors: amounts falling due after more than one year
8
36,966
42,963
--------
--------
Net assets
3,206
15,787
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,106
15,687
-------
--------
Shareholders funds
3,206
15,787
-------
--------
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J&E Traders Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 23 May 2023 , and are signed on behalf of the board by:
Mr T S Lakman
Director
Company registration number: 10663759
J&E Traders Ltd
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 37 St. Leonards Road, Windsor, SL4 3BP.
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.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
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:
Fixtures and fittings
-
20% reducing balance
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 April 2022
28,609
Additions
1,098
--------
At 31 March 2023
29,707
--------
Depreciation
At 1 April 2022
11,206
Charge for the year
3,700
--------
At 31 March 2023
14,906
--------
Carrying amount
At 31 March 2023
14,801
--------
At 31 March 2022
17,403
--------
6. Debtors
2023
2022
£
£
Other debtors
2,250
35,250
-------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,648
10,648
Trade creditors
–
1,914
Corporation tax
5,544
7,675
Social security and other taxes
3,953
5,801
Other creditors
42,196
29,083
--------
--------
62,341
55,121
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
36,966
38,239
Other creditors
–
4,724
--------
--------
36,966
42,963
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr T S Lakman
( 5,037)
( 19,836)
( 24,873)
-------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr T S Lakman
( 2,022)
( 3,015)
( 5,037)
-------
-------
-------