Company registration number 13074403 (England and Wales)
JAS3 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
JAS3 LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
JAS3 LTD
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
31 March 2023
31 December 2021
Notes
£
£
£
£
Current assets
Stocks
15,000
Debtors
3
785,108
4,441
Cash at bank and in hand
44,589
5,693
844,697
10,134
Creditors: amounts falling due within one year
4
(847,980)
(10,034)
Net current (liabilities)/assets
(3,283)
100
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(3,383)
Total equity
(3,283)
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 December 2023 and are signed on its behalf by:
Mrs A Reade
Mr J Schofield
Director
Director
Mr S Schofield
Director
Company Registration No. 13074403
JAS3 LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 10 December 2020
-
Period ended 31 December 2021:
Profit and total comprehensive income for the period
-
Issue of share capital
5
100
-
100
Balance at 31 December 2021
100
100
Period ended 31 March 2023:
Loss and total comprehensive income for the period
-
(3,383)
(3,383)
Balance at 31 March 2023
100
(3,383)
(3,283)
JAS3 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
JAS3 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF.
1.1
Reporting period
The company was incorporated on 10 December 2020. The comparative accounts are for the period from incorporation to 31 December 2021. The company has since changed its year end to 31 March and these accounts cover the period from 1 January 2022 to 31 March 2023.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
JAS3 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2021
Number
Number
Total
3
3
3
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
6,250
Unpaid share capital
100
100
Other debtors
688,233
4,341
Prepayments and accrued income
1,475
696,058
4,441
2023
2021
Amounts falling due after more than one year:
£
£
Other debtors
89,050
Total debtors
785,108
4,441
4
Creditors: amounts falling due within one year
2023
2021
£
£
Trade creditors
4,192
34
Deferred income
1,154
Other creditors
841,197
10,000
Accruals and deferred income
1,437
847,980
10,034
Other creditors represents amounts owed to the directors.
JAS3 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 5 -
5
Called up share capital
2023
2021
2023
2021
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
100
100
100
100
The ordinary share capital remained unpaid at the period end.
6
Related party transactions
Transactions with related parties
During the period the company entered into the following transactions with related parties:
Recharge of goods and services
2023
2021
£
£
Entities with common control
64,765
-
The following amounts were outstanding at the reporting end date:
2023
2021
Amounts due from related parties
£
£
Entities with common control
111,540
28
Other related parties
21,723
3,749