| Jonic Ventures Limited |
| Registered number: |
05545612 |
England & Wales |
| Balance Sheet |
| as at 30 September 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,681 |
|
|
- |
|
| Current assets |
| Stocks |
|
|
29,383 |
|
|
70,000 |
| Debtors |
4 |
|
1,006,005 |
|
|
831,099 |
| Cash at bank and in hand |
|
|
199,211 |
|
|
210,154 |
|
|
|
1,234,599 |
|
|
1,111,253 |
|
| Creditors: amounts falling due within one year |
5 |
|
(223,671) |
|
|
(124,479) |
|
| Net current assets |
|
|
|
1,010,928 |
|
|
986,774 |
|
| Total assets less current liabilities |
|
|
|
1,012,609 |
|
|
986,774 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(40,000) |
|
|
- |
|
|
|
| Net assets |
|
|
|
972,609 |
|
|
986,774 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
971,609 |
|
|
985,774 |
|
| Shareholder's funds |
|
|
|
972,609 |
|
|
986,774 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
| ON BEHALF OF THE BOARD: |
|
|
|
| Nicholas Heasman |
| Director |
| Approved by the board on 19 May 2021 |
|
| Jonic Ventures Limited |
| Notes to the Accounts |
| for the year ended 30 September 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned for the rendering of services. 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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
Plant and machinery |
25% reducing balance |
|
|
Debtors and creditors receivable/payable within one year |
|
Short term debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are charged to the profit and loss account in the period to which they relate. |
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
Additions |
2,241 |
|
At 30 September 2020 |
2,241 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the year |
560 |
|
At 30 September 2020 |
560 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2020 |
1,681 |
|
|
| 4 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Other debtors |
1,006,005 |
|
831,099 |
|
|
|
|
|
|
|
|
|
|
Included in other debtors is a loan to Mr Heasman amounting to £409,917 (2019 £nil). The loan is interest free and repayable on demand (See note 7) |
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bounce back loan |
10,000 |
|
- |
|
Trade creditors |
42,116 |
|
38,513 |
|
Taxation and social security costs |
171,555 |
|
85,656 |
|
Other creditors |
- |
|
310 |
|
|
|
|
|
|
223,671 |
|
124,479 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bounce back loan |
40,000 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans to director |
| B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Nicholas Heasman |
|
Loan 1 |
(310) |
|
125,134 |
|
(88,260) |
|
36,564 |
|
Loan 2 |
- |
|
478,353 |
|
(105,000) |
|
373,353 |
|
|
|
(310) |
|
603,487 |
|
(193,260) |
|
409,917 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
Mr Nicholas Heasman is also a director and shareholder of Level Best Solutions Limited. Turnover includes management charges of £728,882 (2019 £513,521) to Level Best Solutions Limited. At 30th September 2020 Level Best Solutions Limited owed Jonic Ventures Limited £438,427 (2019 £809,099 ). |
|
|
| 9 |
Controlling party |
|
|
During the two years ending 30th September 2020 Mr N Heasman controlled the company by virtue of his 100% shareholding in the issued ordinary share capital |
|
|
| 10 |
Other information |
|
|
Jonic Ventures Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Greystones, |
|
Mark Cross, |
|
Crowborough, |
|
East Sussex |
|
TN6 3PL |
