COMPANY REGISTRATION NUMBER:
05412267
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 December 2022
Fixed assets
Tangible assets |
4 |
50,125 |
45,000 |
|
|
|
|
Current assets
Debtors |
5 |
3,707 |
3,387 |
Investments |
6 |
990 |
1,175 |
Cash at bank and in hand |
23,831 |
23,560 |
|
-------- |
-------- |
|
28,528 |
28,122 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
44,572 |
43,135 |
|
-------- |
-------- |
Net current liabilities |
16,044 |
15,013 |
|
-------- |
-------- |
Total assets less current liabilities |
34,081 |
29,987 |
|
-------- |
-------- |
Net assets |
34,081 |
29,987 |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Revaluation reserve |
5,000 |
– |
Profit and loss account |
28,981 |
29,887 |
|
-------- |
-------- |
Shareholders funds |
34,081 |
29,987 |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 December 2022
These financial statements were approved by the
board of directors
and authorised for issue on
8 August 2023
, and are signed on behalf of the board by:
Mr J D Holopainen |
|
Director |
|
|
|
Company registration number:
05412267
Notes to the Financial Statements |
|
Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Wheel House, 31-37 Church Street, Reigate, Surrey, RH2 0AH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior
impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and
generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance
sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are
calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tangible assets
|
Freehold property |
Equipment |
Total |
|
£ |
£ |
£ |
Cost or valuation |
|
|
|
At 1 January 2022 |
45,000 |
– |
45,000 |
Additions |
– |
130 |
130 |
Revaluations |
5,000 |
– |
5,000 |
|
-------- |
---- |
-------- |
At 31 December 2022 |
50,000 |
130 |
50,130 |
|
-------- |
---- |
-------- |
Depreciation |
|
|
|
At 1 January 2022 |
– |
– |
– |
Charge for the year |
– |
5 |
5 |
|
-------- |
---- |
-------- |
At 31 December 2022 |
– |
5 |
5 |
|
-------- |
---- |
-------- |
Carrying amount |
|
|
|
At 31 December 2022 |
50,000 |
125 |
50,125 |
|
-------- |
---- |
-------- |
At 31 December 2021 |
45,000 |
– |
45,000 |
|
-------- |
---- |
-------- |
|
|
|
|
5.
Debtors
|
2022 |
2021 |
|
£ |
£ |
Trade debtors |
3,098 |
3,098 |
Other debtors |
609 |
289 |
|
------- |
------- |
|
3,707 |
3,387 |
|
------- |
------- |
|
|
|
6.
Investments
|
2022 |
2021 |
|
£ |
£ |
Silver coins |
990 |
1,175 |
|
---- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Trade creditors |
724 |
724 |
Other creditors |
43,848 |
42,411 |
|
-------- |
-------- |
|
44,572 |
43,135 |
|
-------- |
-------- |
|
|
|
8.
Director's advances, credits and guarantees
At the end of
the year
the company owed Mr Holopainen £0 (2021: £3,489)
9.
Related party transactions
The company was under the control of Mr Holopainen throughout the current and previous year. Mr Holopainen is the managing director and majority shareholder. Juha.co.uk Paid expenses of £6,449 (2021: £8,886) on behalf of Juha Ltd and was charged rent of £5,120 (£6,000). The company owed £43,337 (2021: £38,073) at 31 December 2022. No transactions with related parties were undertaken such as are required to be disclosed under the FRS 102.