Jake Wright Antiques Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10020084 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2023

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

736

902

CURRENT ASSETS

Stocks

172,508

149,146

Debtors

5

16,075

2,400

Cash at bank

56,438

26,229

245,021

177,775

CREDITORS

Amounts falling due within one year

6

86,620

53,117

NET CURRENT ASSETS

158,401

124,658

TOTAL ASSETS LESS CURRENT LIABILITIES

159,137

125,560

CREDITORS

Amounts falling due after more than one year

7

(24,002

)

(33,917

)

PROVISIONS FOR LIABILITIES

(140

)

(171

)

NET ASSETS

134,995

91,472

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

134,985

91,462

134,995

91,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 January 2024 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 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2022

and 30 April 2023

959

540

1,499

DEPRECIATION

At 1 May 2022

361

236

597

Charge for year

90

76

166

At 30 April 2023

451

312

763

NET BOOK VALUE

At 30 April 2023

508

228

736

At 30 April 2022

598

304

902

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

16,075

2,400

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

9,915

9,705

Trade creditors

-

3,884

Taxation and social security

21,401

10,781

Other creditors

55,304

28,747

86,620

53,117

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

24,002

33,917

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2022 - £15,000) were paid to the director .