ACCOUNTS - Final Accounts

LONG JOHNS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-01-312022-01-312021-02-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07120932 2021-02-01 2022-01-31 07120932 2020-02-01 2021-01-31 07120932 2022-01-31 07120932 2021-01-31 07120932 c:Director1 2021-02-01 2022-01-31 07120932 d:ComputerEquipment 2021-02-01 2022-01-31 07120932 d:ComputerEquipment 2022-01-31 07120932 d:ComputerEquipment 2021-01-31 07120932 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-02-01 2022-01-31 07120932 d:CurrentFinancialInstruments 2022-01-31 07120932 d:CurrentFinancialInstruments 2021-01-31 07120932 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 07120932 d:CurrentFinancialInstruments d:WithinOneYear 2021-01-31 07120932 d:ShareCapital 2022-01-31 07120932 d:ShareCapital 2021-01-31 07120932 d:RetainedEarningsAccumulatedLosses 2022-01-31 07120932 d:RetainedEarningsAccumulatedLosses 2021-01-31 07120932 c:FRS102 2021-02-01 2022-01-31 07120932 c:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 07120932 c:FullAccounts 2021-02-01 2022-01-31 07120932 c:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 07120932 2 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 07120932

LONG JOHNS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2022

LONG JOHNS LIMITED

REGISTERED NUMBER: 07120932

BALANCE SHEET

AS AT 31 JANUARY 2022

		2022		2021
		£		£

Fixed assets
Tangible assets		162		202
Current assets
Debtors: amounts falling due within one year	19,485		2,032
Cash at bank and in hand	19,593		4,052
	39,078		6,084
Creditors: amounts falling due within one year	(11,581)		(5,498)
Net current assets		27,497		586
Total assets less current liabilities		27,659		788

Net assets		27,659		788

Capital and reserves
Called up share capital	100	100
Profit and loss account	27,559	688
	27,659	788

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LONG JOHNS LIMITED

REGISTERED NUMBER: 07120932

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

............................................

T Juby

Director

Date: 30 August 2022

The notes on pages 3 to 6 form part of these financial statements.

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LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

1.	General information

Long Johns Limited (registered number 07120932) is a private company, limited by shares and incorporated in England and Wales. Its registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment

20% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

2.Accounting policies (continued)

2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, excluding directors, during the year was 0 (2021 - 0).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 February 2021	1,012
	At 31 January 2022	1,012
	Depreciation
	At 1 February 2021	810
	Charge for the year on owned assets	40
	At 31 January 2022	850
	Net book value
	At 31 January 2022	162
	At 31 January 2021	202

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LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

Debtors

					2022	2021
					£	£


Trade debtors	18,157	650
Prepayments and accrued income	1,328	1,382
	19,485	2,032

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Corporation tax	1,969	-
Other taxation and social security	4,169	840
Other creditors	4,418	3,733
Accruals and deferred income	1,025	925
	11,581	5,498

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