ACCOUNTS - Final Accounts

LONG JOHNS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseNo 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 2022-02-01 2023-01-31 07120932 2021-02-01 2022-01-31 07120932 2023-01-31 07120932 2022-01-31 07120932 c:Director1 2022-02-01 2023-01-31 07120932 d:ComputerEquipment 2022-02-01 2023-01-31 07120932 d:ComputerEquipment 2023-01-31 07120932 d:ComputerEquipment 2022-01-31 07120932 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 07120932 d:CurrentFinancialInstruments 2023-01-31 07120932 d:CurrentFinancialInstruments 2022-01-31 07120932 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07120932 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 07120932 d:ShareCapital 2023-01-31 07120932 d:ShareCapital 2022-01-31 07120932 d:RetainedEarningsAccumulatedLosses 2023-01-31 07120932 d:RetainedEarningsAccumulatedLosses 2022-01-31 07120932 c:FRS102 2022-02-01 2023-01-31 07120932 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 07120932 c:FullAccounts 2022-02-01 2023-01-31 07120932 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07120932 2 2022-02-01 2023-01-31 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 2023

LONG JOHNS LIMITED

REGISTERED NUMBER: 07120932

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2023

		2023		2022
		£		£

Fixed assets
Tangible assets		2,385		162
Current assets
Debtors: amounts falling due within one year	9,242		19,485
Cash at bank and in hand	52,164		19,593
	61,406		39,078
Creditors: amounts falling due within one year	(20,962)		(11,581)
Net current assets		40,444		27,497
Total assets less current liabilities		42,829		27,659

Net assets		42,829		27,659

Capital and reserves
Called up share capital	100	100
Profit and loss account	42,729	27,559
	42,829	27,659

Page 1

LONG JOHNS LIMITED

REGISTERED NUMBER: 07120932

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JANUARY 2023

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: 12 July 2023

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

Page 2

LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

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.

Page 3

LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

2.3

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.

2.4

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.

2.5

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.

2.6

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.

2.7

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.

2.8

Interest income

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

Page 4

LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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 reporting 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 (2022 - 0).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 February 2022	1,012
	Additions	2,333
	At 31 January 2023	3,345
	Depreciation
	At 1 February 2022	850
	Charge for the year on owned assets	110
	At 31 January 2023	960
	Net book value
	At 31 January 2023	2,385
	At 31 January 2022	162

Page 5

LONG JOHNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

Debtors

					2023	2022
					£	£


Trade debtors	7,848	18,157
Prepayments and accrued income	1,394	1,328
	9,242	19,485

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	828	-
Corporation tax	9,675	1,969
Other taxation and social security	4,840	4,169
Other creditors	4,419	4,418
Accruals and deferred income	1,200	1,025
	20,962	11,581

Page 6