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Financial Statements |
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for the Year Ended 31 July 2022 |
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for |
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J.T.S. (Cushions) Ltd |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 July 2022 |
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for |
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J.T.S. (Cushions) Ltd |
J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2022 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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J.T.S. (Cushions) Ltd |
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Company Information |
for the Year Ended 31 July 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditors |
Russell Chambers |
61a North Street |
Keighley |
West Yorkshire |
BD21 3DS |
J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Statement of Financial Position |
31 July 2022 |
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31.7.22 | 31.7.21 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Debtors | 8 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
10 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Statement of Financial Position - continued |
31 July 2022 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2022 |
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1. | STATUTORY INFORMATION |
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J.T.S. (Cushions) Ltd is a
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant & machinery | - |
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Fixtures & fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 August 2021 |
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Additions |
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At 31 July 2022 |
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AMORTISATION |
At 1 August 2021 |
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Amortisation for year |
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At 31 July 2022 |
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NET BOOK VALUE |
At 31 July 2022 |
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At 31 July 2021 |
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J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
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6. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant & | Fixtures |
property | machinery | & fittings |
£ | £ | £ |
COST |
At 1 August 2021 |
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Additions |
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At 31 July 2022 |
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DEPRECIATION |
At 1 August 2021 |
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Charge for year |
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At 31 July 2022 |
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NET BOOK VALUE |
At 31 July 2022 |
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At 31 July 2021 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2021 |
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Additions |
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At 31 July 2022 |
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DEPRECIATION |
At 1 August 2021 |
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Charge for year |
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At 31 July 2022 |
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NET BOOK VALUE |
At 31 July 2022 |
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At 31 July 2021 |
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J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
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6. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 August 2021 |
and 31 July 2022 |
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DEPRECIATION |
At 1 August 2021 |
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Charge for year |
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At 31 July 2022 |
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NET BOOK VALUE |
At 31 July 2022 |
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At 31 July 2021 |
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7. | STOCKS |
31.7.22 | 31.7.21 |
£ | £ |
Stocks |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.22 | 31.7.21 |
£ | £ |
Trade debtors |
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Prepayments |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.22 | 31.7.21 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Corporate taxation |
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Social security & other taxes |
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Invoice discounting |
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313,235 |
Directors' current accounts | - | 203 |
Accrued expenses |
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J.T.S. (Cushions) Ltd (Registered number: 04243630) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.7.22 | 31.7.21 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Hire purchase contracts |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.7.22 | 31.7.21 |
£ | £ |
Hire purchase contracts | 11,488 | 16,083 |
Invoice discounting | - | 313,235 |
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12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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