Company Registration No. 07576676 (England and Wales)
JSK Entertainment Limited
Unaudited accounts
for the year ended 31 March 2021
JSK Entertainment Limited
Unaudited accounts
Contents
JSK Entertainment Limited
Company Information
for the year ended 31 March 2021
Company Number
07576676 (England and Wales)
Registered Office
2, Woolhampton Way
Chigwell
Essex
IG7 4QH
United Kingdom
Accountants
Hampton Wells
2, Woolhampton Way
IG7 4QH
JSK Entertainment Limited
Statement of financial position
as at
31 March 2021
Intangible assets
4,400
5,500
Inventories
60,000
60,000
Cash at bank and in hand
283,749
283,749
Creditors: amounts falling due within one year
(156,400)
(156,400)
Net current assets
738,501
738,501
Net assets
742,902
744,002
Called up share capital
1
1
Profit and loss account
742,901
744,001
Shareholders' funds
742,902
744,002
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 December 2021 and were signed on its behalf by
J S Kalra
Director
Company Registration No. 07576676
JSK Entertainment Limited
Notes to the Accounts
for the year ended 31 March 2021
JSK Entertainment Limited is a private company, limited by shares, registered in England and Wales, registration number 07576676. The registered office is 2, Woolhampton Way, Chigwell, Essex, IG7 4QH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets - Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director's loans.
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.
Director's loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
JSK Entertainment Limited
Notes to the Accounts
for the year ended 31 March 2021
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits
4
Intangible fixed assets
Goodwill
Charge for the year
1,100
5
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
JSK Entertainment Limited
Notes to the Accounts
for the year ended 31 March 2021
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
551,152
551,152
7
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
149,848
149,848
Loans from directors
4,652
4,652
8
Average number of employees
During the year the average number of employees was 1 (2020: 3).