JP Lagoon Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07326007 (England and Wales)

JP Lagoon Limited

Unaudited Financial Statements

for the Year Ended 31st July 2023

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs H Jung

Mr C S Povey

REGISTERED OFFICE:

139 Alexandra Road

Wimbledon

London

SW19 7JY

REGISTERED NUMBER:

07326007 (England and Wales)

ACCOUNTANTS:

Naail & Co

Chartered Certified Accountants

69 Lambeth Walk

London

SE11 6DX

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JP Lagoon Limited for the year ended 31st July 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of JP Lagoon Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JP Lagoon Limited and state those matters that we have agreed to state to the Board of Directors of JP Lagoon Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JP Lagoon Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of JP Lagoon Limited. You consider that JP Lagoon Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JP Lagoon Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Naail & Co

Chartered Certified Accountants

69 Lambeth Walk

London

SE11 6DX

Date: .............................................

FIXED ASSETS

Intangible assets

4

-

Property, plant and equipment

5

47,607

37,299

47,607

37,299

CURRENT ASSETS

Inventories

7,500

3,955

Debtors

17,624

12,338

Cash at bank and in hand

102,191

167,987

127,315

184,280

CREDITORS

Amounts falling due within one year

50,851

57,252

NET CURRENT ASSETS

76,464

127,028

TOTAL ASSETS LESS CURRENT
LIABILITIES

124,071

164,327

PROVISIONS FOR LIABILITIES

6

9,045

-

NET ASSETS

115,026

164,327

CAPITAL AND RESERVES

Called up share capital

7

2

Retained earnings

115,024

164,325

SHAREHOLDERS' FUNDS

115,026

164,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 19th March 2024 and were signed on its behalf by:

Mrs H Jung - Director

1.	STATUTORY INFORMATION

JP Lagoon Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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

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

Turnover is generated from the ordinary activities of the business and is recognised when the right to consideration becomes due.

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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

In the director's assessment of the company's ability to continue as a going concern, there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2022

and 31st July 2023

9,323

AMORTISATION

At 1st August 2022

and 31st July 2023

9,323

NET BOOK VALUE

At 31st July 2023

-

At 31st July 2022

-

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1st August 2022

156,471

Additions

21,582

Disposals

(12,994

)

At 31st July 2023

165,059

DEPRECIATION

At 1st August 2022

119,172

Charge for year

8,080

Eliminated on disposal

(9,800

)

At 31st July 2023

117,452

NET BOOK VALUE

At 31st July 2023

47,607

At 31st July 2022

37,299

6.	PROVISIONS FOR LIABILITIES

2023

2022

£

Deferred tax

9,045

-

Deferred

tax

£

Provided during year

9,045

Balance at 31st July 2023

9,045

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

2

Ordinary

1

2

8.	RELATED PARTY DISCLOSURES

Mrs H Jung

Director & Shareholder

At the reporting date, the company owed £29,247 (2022: £21,145) to Mrs Jung. This is an interest free loan with no set repayment terms.

JP Lagoon Limited - Accounts to registrar (filleted) - small 23.2.5

JP Lagoon Limited - Accounts to registrar (filleted) - small 23.2.5