J3 DESIGN LIMITED

2019-09-012020-08-312020-08-31false06371634J3 DESIGN LIMITED2021-05-22iso4217:GBPxbrli:pure063716342019-09-01063716342020-08-31063716342019-09-012020-08-31063716342018-09-01063716342019-08-31063716342018-09-012019-08-3106371634bus:SmallEntities2019-09-012020-08-3106371634bus:AuditExempt-NoAccountantsReport2019-09-012020-08-3106371634bus:FullAccounts2019-09-012020-08-3106371634bus:PrivateLimitedCompanyLtd2019-09-012020-08-3106371634core:WithinOneYear2020-08-3106371634core:AfterOneYear2020-08-3106371634core:WithinOneYear2019-08-3106371634core:AfterOneYear2019-08-3106371634core:ShareCapital2020-08-3106371634core:SharePremium2020-08-3106371634core:RevaluationReserve2020-08-3106371634core:OtherReservesSubtotal2020-08-3106371634core:RetainedEarningsAccumulatedLosses2020-08-3106371634core:ShareCapital2019-08-3106371634core:SharePremium2019-08-3106371634core:RevaluationReserve2019-08-3106371634core:OtherReservesSubtotal2019-08-3106371634core:RetainedEarningsAccumulatedLosses2019-08-3106371634core:LandBuildings2020-08-3106371634core:PlantMachinery2020-08-3106371634core:Vehicles2020-08-3106371634core:FurnitureFittings2020-08-3106371634core:OfficeEquipment2020-08-3106371634core:NetGoodwill2020-08-3106371634core:IntangibleAssetsOtherThanGoodwill2020-08-3106371634core:ListedExchangeTraded2020-08-3106371634core:UnlistedNon-exchangeTraded2020-08-3106371634core:LandBuildings2019-08-3106371634core:PlantMachinery2019-08-3106371634core:Vehicles2019-08-3106371634core:FurnitureFittings2019-08-3106371634core:OfficeEquipment2019-08-3106371634core:NetGoodwill2019-08-3106371634core:IntangibleAssetsOtherThanGoodwill2019-08-3106371634core:ListedExchangeTraded2019-08-3106371634core:UnlistedNon-exchangeTraded2019-08-3106371634core:LandBuildings2019-09-012020-08-3106371634core:PlantMachinery2019-09-012020-08-3106371634core:Vehicles2019-09-012020-08-3106371634core:FurnitureFittings2019-09-012020-08-3106371634core:OfficeEquipment2019-09-012020-08-3106371634core:NetGoodwill2019-09-012020-08-3106371634core:IntangibleAssetsOtherThanGoodwill2019-09-012020-08-3106371634core:ListedExchangeTraded2019-09-012020-08-3106371634core:UnlistedNon-exchangeTraded2019-09-012020-08-3106371634core:MoreThanFiveYears2019-09-012020-08-3106371634core:Non-currentFinancialInstruments2020-08-3106371634core:Non-currentFinancialInstruments2019-08-3106371634dpl:CostSales2019-09-012020-08-3106371634dpl:DistributionCosts2019-09-012020-08-3106371634dpl:AdministrativeExpenses2019-09-012020-08-3106371634core:LandBuildings2019-09-012020-08-3106371634core:PlantMachinery2019-09-012020-08-3106371634core:Vehicles2019-09-012020-08-3106371634core:FurnitureFittings2019-09-012020-08-3106371634core:OfficeEquipment2019-09-012020-08-3106371634core:NetGoodwill2019-09-012020-08-3106371634core:IntangibleAssetsOtherThanGoodwill2019-09-012020-08-3106371634dpl:GroupUndertakings2019-09-012020-08-3106371634dpl:ParticipatingInterests2019-09-012020-08-3106371634dpl:GroupUndertakingscore:ListedExchangeTraded2019-09-012020-08-3106371634core:ListedExchangeTraded2019-09-012020-08-3106371634dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-09-012020-08-3106371634core:UnlistedNon-exchangeTraded2019-09-012020-08-3106371634dpl:CostSales2018-09-012019-08-3106371634dpl:DistributionCosts2018-09-012019-08-3106371634dpl:AdministrativeExpenses2018-09-012019-08-3106371634core:LandBuildings2018-09-012019-08-3106371634core:PlantMachinery2018-09-012019-08-3106371634core:Vehicles2018-09-012019-08-3106371634core:FurnitureFittings2018-09-012019-08-3106371634core:OfficeEquipment2018-09-012019-08-3106371634core:NetGoodwill2018-09-012019-08-3106371634core:IntangibleAssetsOtherThanGoodwill2018-09-012019-08-3106371634dpl:GroupUndertakings2018-09-012019-08-3106371634dpl:ParticipatingInterests2018-09-012019-08-3106371634dpl:GroupUndertakingscore:ListedExchangeTraded2018-09-012019-08-3106371634core:ListedExchangeTraded2018-09-012019-08-3106371634dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2018-09-012019-08-3106371634core:UnlistedNon-exchangeTraded2018-09-012019-08-3106371634core:NetGoodwill2020-08-3106371634core:IntangibleAssetsOtherThanGoodwill2020-08-3106371634core:LandBuildings2020-08-3106371634core:PlantMachinery2020-08-3106371634core:Vehicles2020-08-3106371634core:FurnitureFittings2020-08-3106371634core:OfficeEquipment2020-08-3106371634core:AfterOneYear2020-08-3106371634core:WithinOneYear2020-08-3106371634core:ListedExchangeTraded2020-08-3106371634core:UnlistedNon-exchangeTraded2020-08-3106371634core:ShareCapital2020-08-3106371634core:SharePremium2020-08-3106371634core:RevaluationReserve2020-08-3106371634core:OtherReservesSubtotal2020-08-3106371634core:RetainedEarningsAccumulatedLosses2020-08-3106371634core:NetGoodwill2019-08-3106371634core:IntangibleAssetsOtherThanGoodwill2019-08-3106371634core:LandBuildings2019-08-3106371634core:PlantMachinery2019-08-3106371634core:Vehicles2019-08-3106371634core:FurnitureFittings2019-08-3106371634core:OfficeEquipment2019-08-3106371634core:AfterOneYear2019-08-3106371634core:WithinOneYear2019-08-3106371634core:ListedExch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J3 DESIGN LIMITED

Registered Number
06371634
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 August 2020

J3 DESIGN LIMITED

Company Information
for the year from 1 September 2019 to 31 August 2020


Directors	HEWITT, Julie Caroline


Registered Address	18 Cleveland Avenue
	London
	W4 1SN


Registered Number	06371634 (England and Wales)

J3 DESIGN LIMITED

Statement of Financial Position
31 August 2020

	Notes	2020		2019
		£	£	£	£
Fixed assets
Tangible assets	8		1,967		2,458
			1,967		2,458
Current assets
Debtors	9	-		4,801
Cash at bank and on hand		230		84
		230		4,885
Creditors amounts falling due within one year	10	(25,687)		(21,509)
Net current assets (liabilities)			(25,457)		(16,624)
Total assets less current liabilities			(23,490)		(14,166)
Provisions for liabilities	11		(374)		(467)
Net assets			(23,864)		(14,633)
Capital and reserves
Called up share capital			1		1
Profit and loss account			(23,865)		(14,634)
Shareholders' funds			(23,864)		(14,633)

The company was entitled to exemption from audit for this reporting period 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 22 May 2021, and are signed on its behalf by:

HEWITT, Julie Caroline
Director
Registered Company No. 06371634

J3 DESIGN LIMITED

Notes to the Financial Statements
for the year ended 31 August 2020

1.	STATUTORY INFORMATION
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	PRINCIPAL ACTIVITIES
	The principal activity of the company continued to be that of graphic design and consultancy.

4.	BASIS OF MEASUREMENT USED IN FINANCIAL STATEMENTS
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

5.	ACCOUNTING POLICIES

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

		Reducing balance (%)
	Plant and machinery	20

	Intangible assets policy
	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.

Intangible assets policy

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.

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Government grants and other government assistance policy
	Government grants are recognised in profit or loss on a systematic basis over the periods in which the company recognises expenses for the related costs for which the grants are intended to compensate.

	Valuation of financial instruments policy
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Valuation of financial instruments policy

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets classified as receivable within one year are not amortised.

	Going concern
	The financial statements have been prepared on the going concern basis. This assumes that the company will achieve a profitable level of trading and will continue to enjoy the support of its directors and creditors. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives. During the year and since the year end, there has been some disruption to the business activities as a result of COVID-19. The financial statements for the current year have been affected.

Going concern

The financial statements have been prepared on the going concern basis. This assumes that the
company will achieve a profitable level of trading and will continue to enjoy the support of its directors and creditors. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives. During the year and since the year end, there has been some disruption to the business activities as a result of COVID-19. The financial statements for the current year have been affected.

6.	EMPLOYEE INFORMATION
	The number of directors included within the numbers below is 1 (2019 - 1).

		2020		2019
	Average number of employees during the year	1		1

7.	INTANGIBLE ASSETS

	Goodwill £	Total £
Cost or valuation
At 01 September 19	9,500	9,500
At 31 August 20	9,500	9,500
Amortisation and impairment
At 01 September 19	9,500	9,500
At 31 August 20	9,500	9,500
Net book value
At 31 August 19	-	-

8.	PROPERTY, PLANT AND EQUIPMENT

	Plant & machinery £	Total £
Cost or valuation
At 01 September 19	13,417	13,417
At 31 August 20	13,417	13,417
Depreciation and impairment
At 01 September 19	10,959	10,959
Charge for year	491	491
At 31 August 20	11,450	11,450
Net book value
At 31 August 20	1,967	1,967
At 31 August 19	2,458	2,458

9.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

		2020 £		2019 £
	Trade debtors / trade receivables	-		4,801
	Total	-		4,801

10.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within Other Creditors is £21,193 (2019 £17,770) due to the sole director. The loan is interest free and on no fixed repayment terms.

10.

CREDITORS WITHIN ONE YEAR

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Included within Other Creditors is £21,193 (2019 £17,770) due to the sole director.  The loan is interest free and on no fixed repayment terms.

	2020 £	2019 £
Trade creditors / trade payables	1,660	54
Taxation and social security	1,617	2,468
Other creditors	22,410	18,987
Total	25,687	21,509

11.	PROVISIONS FOR LIABILITIES

		2020 £		2019 £
	Net deferred tax liability (asset)	374		467
	Total	374		467