J.H.P. Limited
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Notes to the Accounts |
for the year ended 30 June 2018
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of publishing rights and from the rendering of sound recording services. Turnover from the rendering of services is recognised by reference to the stage of completion of the work done.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Plant and machinery |
25% reducing balance |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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2 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 July 2017 |
230,816 |
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Additions |
5,234 |
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At 30 June 2018 |
236,050 |
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Depreciation |
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At 1 July 2017 |
159,409 |
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Charge for the year |
19,160 |
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At 30 June 2018 |
178,569 |
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Net book value |
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At 30 June 2018 |
57,481 |
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At 30 June 2017 |
71,407 |
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3 |
Debtors |
2018 |
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2017 |
£ |
£ |
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Amounts owed by related parties |
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2,260 |
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32,681 |
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4 |
Creditors: amounts falling due within one year |
2018 |
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2017 |
£ |
£ |
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Other taxes and social security costs |
762 |
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182 |
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Other creditors |
3,933 |
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1,101 |
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4,695 |
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1,283 |
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5 |
Related party transactions |
2018 |
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2017 |
£ |
£ |
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Paul Fishman Limited |
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P. Fishman, Esq, the director and shareholder of J.H.P. Limited is the sole director and shareholder of Paul Fishman Limited.
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Amount due from (to) the related party |
1,710 |
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1,710 |
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Jambo Music Limited |
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P. Fishman, Esq, the director and shareholder of J.H.P. Limited is the sole director and shareholder of Jambo Music Limited. |
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Amount due from (to) the related party |
550 |
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550 |
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Inpaul Investments Limited |
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P. Fishman, Esq, the director and shareholder of J.H.P. Limited has a 50% shareholding in Inpaul Investments Limited.. |
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Amount due from (to) the related party |
- |
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30,421 |
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6 |
Controlling party |
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The company is controlled by the director who owns the entire share capital of the company.
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7 |
Other information |
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J.H.P. Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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34 Hampstead Lane |
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London |
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N6 4NT |