Company No: 08085447 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Jane Hicks
	John Nicholas Hicks
	Kevin Knowles

SECRETARY

Jane Hicks

REGISTERED OFFICE	Lowin House
	Tregolls Road
	Truro
	TR1 2NA
	United Kingdom

COMPANY NUMBER

08085447 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Lowin House
	Tregolls Road
	Truro
	Cornwall TR1 2NA

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	3	5,057		5,944
		5,057		5,944
Current assets
Stocks	4	14,000		0
Debtors	5	28,699		28,451
Cash at bank and in hand	6	49,436		29,367
		92,135		57,818
Creditors: amounts falling due within one year	7	( 46,147)		( 30,061)
Net current assets		45,988		27,757
Total assets less current liabilities		51,045		33,701
Creditors: amounts falling due after more than one year	8	( 15,833)		( 25,833)
Provision for liabilities		( 961)		( 1,130)
Net assets		34,251		6,738
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		34,151		6,638
Total shareholder's funds		34,251		6,738

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Janes Jubilee Garage Ltd (registered number: 08085447) were approved and authorised for issue by the Board of Directors on 08 April 2024. They were signed on its behalf by:

Jane Hicks Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Janes Jubilee Garage Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc.

20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 November 2022	95,388		95,388
At 31 October 2023	95,388		95,388
Accumulated depreciation
At 01 November 2022	89,444		89,444
Charge for the financial year	887		887
At 31 October 2023	90,331		90,331
Net book value
At 31 October 2023	5,057		5,057
At 31 October 2022	5,944		5,944

4. Stocks

	2023		2022
	£		£
Stocks	14,000		0

5. Debtors

	2023		2022
	£		£
Trade debtors	22,486		20,322
Other debtors	6,213		8,129
	28,699		28,451

6. Cash and cash equivalents

	2023		2022
	£		£
Cash at bank and in hand	49,436		29,367

7. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans	10,000		10,000
Trade creditors	20,899		9,749
Taxation and social security	14,142		9,207
Other creditors	1,106		1,105
	46,147		30,061

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

	2023		2022
	£		£
Bank loans	15,833		25,833

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each	100		100