Jo Joseph Creative Limited Filleted accounts for Companies House (small and micro)

JO JOSEPH CREATIVE LIMITED - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2021-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10402821 2021-10-01 2022-09-30 10402821 2022-09-30 10402821 2021-09-30 10402821 2020-10-01 2021-09-30 10402821 2021-09-30 10402821 core:FurnitureFittings 2021-10-01 2022-09-30 10402821 core:MotorVehicles 2021-10-01 2022-09-30 10402821 bus:Director1 2021-10-01 2022-09-30 10402821 core:FurnitureFittings 2021-09-30 10402821 core:FurnitureFittings 2022-09-30 10402821 core:MotorVehicles 2022-09-30 10402821 core:WithinOneYear 2022-09-30 10402821 core:WithinOneYear 2021-09-30 10402821 core:ShareCapital 2022-09-30 10402821 core:ShareCapital 2021-09-30 10402821 core:RetainedEarningsAccumulatedLosses 2022-09-30 10402821 core:RetainedEarningsAccumulatedLosses 2021-09-30 10402821 core:FurnitureFittings 2021-09-30 10402821 bus:SmallEntities 2021-10-01 2022-09-30 10402821 bus:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 10402821 bus:FullAccounts 2021-10-01 2022-09-30 10402821 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 10402821 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 10402821 core:OfficeEquipment 2021-10-01 2022-09-30 10402821 core:OfficeEquipment 2021-09-30 10402821 core:OfficeEquipment 2022-09-30

COMPANY REGISTRATION NUMBER: 10402821

Jo Joseph Creative Limited

Filleted Unaudited Financial Statements

30 September 2022

Jo Joseph Creative Limited

Financial Statements

Year ended 30 September 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Jo Joseph Creative Limited

Statement of Financial Position

30 September 2022

	2022		2021
Note	£	£	£	£

Fixed assets

Tangible assets	5		49,372		8,120

Current assets

Debtors	6	22,137	47,038
Cash at bank and in hand		295,742	221,061
		---------	---------
		317,879	268,099

Creditors: amounts falling due within one year	7	180,564		192,401
		---------		---------
Net current assets			137,315		75,698
			---------		--------
Total assets less current liabilities			186,687		83,818

Provisions	10,924	1,543
	---------	--------
Net assets	175,763	82,275
	---------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	175,663	82,175
	---------	--------
Shareholders funds	175,763	82,275
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Jo Joseph Creative Limited

Statement of Financial Position (continued)

30 September 2022

These financial statements were approved by the board of directors and authorised for issue on 2 December 2022 , and are signed on behalf of the board by:

Mrs J. Joseph
Director

Company registration number: 10402821

Jo Joseph Creative Limited

Notes to the Financial Statements

Year ended 30 September 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 49 Greek Street, London, W1D 4EG, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 October 2021	7,640	–	3,205	10,845
Additions	–	56,090	612	56,702
	-------	--------	-------	--------
At 30 September 2022	7,640	56,090	3,817	67,547
	-------	--------	-------	--------
Depreciation
At 1 October 2021	1,243	–	1,482	2,725
Charge for the year	960	14,023	467	15,450
	-------	--------	-------	--------
At 30 September 2022	2,203	14,023	1,949	18,175
	-------	--------	-------	--------
Carrying amount
At 30 September 2022	5,437	42,067	1,868	49,372
	-------	--------	-------	--------
At 30 September 2021	6,397	–	1,723	8,120
	-------	--------	-------	--------

6. Debtors

	2022	2021
	£	£
Trade debtors	21,699	46,418
Other debtors	438	620
	--------	--------
	22,137	47,038
	--------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	34	696
Social security and other taxes	40,618	58,158
Other creditors	139,912	133,547
	---------	---------
	180,564	192,401
	---------	---------