Jollys Promotion Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI614856 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

Jollys Promotion Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S McQuaid

A McQuaid

SECRETARY:

REGISTERED OFFICE:

73 Lislasly Road

Moy

Dungannon

Co. Tyrone

BT71 6TB

REGISTERED NUMBER:

NI614856 (Northern Ireland)

ACCOUNTANTS:

WHR Accountants Ltd

Chartered Certified Accountants

Statutory Auditors

56 English Street

Armagh

Co. Armagh

BT61 7LG

FIXED ASSETS

Intangible assets

4

7,049

10,574

Tangible assets

5

10,057

10,214

17,106

20,788

CURRENT ASSETS

Debtors

6

13,929

5,000

Cash at bank and in hand

5,622

-

19,551

5,000

CREDITORS

Amounts falling due within one year

7

35,427

12,161

NET CURRENT LIABILITIES

(15,876

)

(7,161

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,230

13,627

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,130

13,527

SHAREHOLDERS' FUNDS

1,230

13,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2021 and were signed on its behalf by:

A McQuaid - Director

1.	STATUTORY INFORMATION

Jollys Promotion Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2019

and 31 October 2020

35,249

AMORTISATION

At 1 November 2019

24,675

Charge for year

3,525

At 31 October 2020

28,200

NET BOOK VALUE

At 31 October 2020

7,049

At 31 October 2019

10,574

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2019

18,874

Additions

960

At 31 October 2020

19,834

DEPRECIATION

At 1 November 2019

8,660

Charge for year

1,117

At 31 October 2020

9,777

NET BOOK VALUE

At 31 October 2020

10,057

At 31 October 2019

10,214

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade debtors

-

5,000

Directors' current accounts

13,929

-

13,929

5,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Bank loans and overdrafts

-

2,297

Loan A/c

25,000

-

Trade creditors

(1

)

(1

)

Tax

7,128

6,564

Directors' current accounts

-

1

Accrued expenses

3,300

3,300

35,427

12,161