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REGISTERED NUMBER: 10324242 (England and Wales)















REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018

FOR

JOY L LIMITED

JOY L LIMITED (REGISTERED NUMBER: 10324242)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018










Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


JOY L LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2018







DIRECTOR: L T Joy





REGISTERED OFFICE: First Floor
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG





REGISTERED NUMBER: 10324242 (England and Wales)

JOY L LIMITED (REGISTERED NUMBER: 10324242)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 AUGUST 2018


The director presents his report with the financial statements of the company for the year ended 31 August 2018.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the selling of engineering
tools and related products.

DIRECTOR
L T Joy held office during the whole of the period from 1 September 2017 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act
2006 relating to small companies.

ON BEHALF OF THE BOARD:





L T Joy - Director


11 November 2018

JOY L LIMITED (REGISTERED NUMBER: 10324242)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2018

Period
11.8.16
Year Ended to
31.8.18 31.8.17
Notes £    £   

TURNOVER 351,917 178,438

Cost of sales 245,071 101,717
GROSS PROFIT 106,846 76,721

Administrative expenses 44,596 36,747
OPERATING PROFIT 62,250 39,974


Interest payable and similar
expenses

3,744

2,114
PROFIT BEFORE TAXATION 58,506 37,860

Tax on profit 11,116 7,317
PROFIT FOR THE FINANCIAL YEAR 47,390 30,543

JOY L LIMITED (REGISTERED NUMBER: 10324242)

BALANCE SHEET
31 AUGUST 2018

2018 2017
Notes £    £   
CURRENT ASSETS
Stocks 63,129 49,156
Debtors 5 45,710 44,359
Cash at bank 33,655 12,360
142,494 105,875
CREDITORS
Amounts falling due within one year 6 53,283 53,553
NET CURRENT ASSETS 89,211 52,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,211

52,322

CREDITORS
Amounts falling due after more than
one year

7

36,677

30,378
NET ASSETS 52,534 21,944

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 52,533 21,943
SHAREHOLDERS' FUNDS 52,534 21,944

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JOY L LIMITED (REGISTERED NUMBER: 10324242)

BALANCE SHEET - continued
31 AUGUST 2018


The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 11 November 2018 and were signed by:





L T Joy - Director


JOY L LIMITED (REGISTERED NUMBER: 10324242)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018


1. STATUTORY INFORMATION

Joy L 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

JOY L LIMITED (REGISTERED NUMBER: 10324242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2018


4. DIVIDENDS
Period
11.8.16
Year Ended to
31.8.18 31.8.17
£    £   
Ordinary shares of £0.01 each
Dividends paid 16,800 8,600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 37,859 41,565
Other debtors 7,851 2,794
45,710 44,359

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 13,392 9,434
Trade creditors 12,759 16,368
Corporation tax 11,116 7,317
VAT 4,412 2,688
Other creditors 11,278 16,109
Directors' current accounts 326 1,637
53,283 53,553

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2018 2017
£    £   
Bank loans - 2-5 years 36,677 30,378