Jupiter Visual Communications Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09041508 (England and Wales)

Financial Statements for the Year Ended 29 March 2023

for

Jupiter Visual Communications Limited

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

B I H Moss

D J Snaith

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

09041508 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Intangible assets

4

57,497

67,080

Tangible assets

5

33,590

36,150

91,087

103,230

CURRENT ASSETS

Stocks

6

-

28,705

Debtors

7

494,322

679,990

Cash at bank and in hand

676,439

475,476

1,170,761

1,184,171

CREDITORS

Amounts falling due within one year

8

(553,709

)

(1,041,922

)

NET CURRENT ASSETS

617,052

142,249

TOTAL ASSETS LESS CURRENT LIABILITIES

708,139

245,479

CREDITORS

Amounts falling due after more than one year

9

(233,024

)

(244,506

)

NET ASSETS

475,115

973

CAPITAL AND RESERVES

Called up share capital

11

100

100

Share premium

12

99

99

Retained earnings

12

474,916

774

SHAREHOLDERS' FUNDS

475,115

973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 March 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.

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 28 March 2024 and were signed on its behalf by:

D J Snaith - Director

B I H Moss - Director

1.	STATUTORY INFORMATION

Jupiter Visual Communications 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.

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

Fixtures and fittings 25%

Motor vehicles 25%

Stocks

Stocks 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 30 March 2022

and 29 March 2023

95,829

AMORTISATION

At 30 March 2022

28,749

Amortisation for year

9,583

At 29 March 2023

38,332

NET BOOK VALUE

At 29 March 2023

57,497

At 29 March 2022

67,080

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 30 March 2022

6,694

74,335

-

81,029

Additions

-

4,500

4,654

9,154

At 29 March 2023

6,694

78,835

4,654

90,183

DEPRECIATION

At 30 March 2022

3,870

41,009

-

44,879

Charge for year

706

9,457

1,551

11,714

At 29 March 2023

4,576

50,466

1,551

56,593

NET BOOK VALUE

At 29 March 2023

2,118

28,369

3,103

33,590

At 29 March 2022

2,824

33,326

-

36,150

6.

STOCKS

29.3.23

29.3.22

£

£

Finished goods

-

28,705

7.

DEBTORS

29.3.23

29.3.22

£

£

Amounts falling due within one year:

Trade debtors

384,921

490,991

Directors' current accounts

9,241

88,839

394,162

579,830

Amounts falling due after more than one year:

Amounts owed by group undertakings

100,160

100,160

Aggregate amounts

494,322

679,990

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.3.23

29.3.22

£

£

Bank loans and overdrafts (see note 10)

409,144

662,540

Payments on account

9,900

9,900

Trade creditors

95,769

231,540

lloyds factoring account

16,117

64,347

Amex Credit card

(7,988

)

(1,236

)

Social security and other taxes

11,298

37,839

VAT

11,130

36,992

Directors' current accounts

8,339

-

553,709

1,041,922

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.3.23

29.3.22

£

£

Hire purchase contracts

21,537

33,019

Amounts owed to group undertakings

211,487

211,487

233,024

244,506

10.

LOANS

An analysis of the maturity of loans is given below:

29.3.23

29.3.22

£

£

Amounts falling due within one year or on demand:

Bank loans

409,144

662,540

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.3.23

29.3.22

value:

£

£

170

Ordinary A

50p

85

85

30

Ordinary B

50p

15

15

100

100

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 30 March 2022

774

99

873

Profit for the year

474,142

474,142

At 29 March 2023

474,916

99

475,015