Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseSound recording and music publishing activities11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00858749 2021-01-01 2021-12-31 00858749 2020-01-01 2020-12-31 00858749 2021-12-31 00858749 2020-12-31 00858749 c:Director1 2021-01-01 2021-12-31 00858749 d:CurrentFinancialInstruments 2021-12-31 00858749 d:CurrentFinancialInstruments 2020-12-31 00858749 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 00858749 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 00858749 d:ShareCapital 2021-12-31 00858749 d:ShareCapital 2020-12-31 00858749 d:RetainedEarningsAccumulatedLosses 2021-12-31 00858749 d:RetainedEarningsAccumulatedLosses 2020-12-31 00858749 c:FRS102 2021-01-01 2021-12-31 00858749 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 00858749 c:FullAccounts 2021-01-01 2021-12-31 00858749 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 00858749 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 00858749










JONJO MUSIC COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
JONJO MUSIC COMPANY LIMITED
REGISTERED NUMBER: 00858749

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
55,815
53,560

Cash at bank and in hand
  
27,519
27,534

  
83,334
81,094

Creditors: amounts falling due within one year
 5 
(71,824)
(72,762)

Net current assets
  
 
 
11,510
 
 
8,332

Total assets less current liabilities
  
11,510
8,332

  

Net assets
  
11,510
8,332


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
11,410
8,232

  
11,510
8,332


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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 the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the statement of income and retained earnings or director's report in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




K G King
Director

Date: 18 August 2022

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
JONJO MUSIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Jonjo Music Company Limited is a private company limited by shares and incorporated in England & Wales (00858749). The registered office is 14th Floor, 33 Cavendish Square, London, England, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Royalty income is recognised as it becomes receivable based on the terms of the underlying agreements.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 
JONJO MUSIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 3

 
JONJO MUSIC COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Debtors

2021
2020
£
£


Other debtors
55,786
53,517

Prepayments and accrued income
29
43

55,815
53,560



5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
25,719
3,018

Corporation tax
745
881

Other creditors
39,310
58,860

Accruals and deferred income
6,050
10,003

71,824
72,762



6.


Related party transactions

Included in other creditors is an interest free loan to the value of £2,123 (2020 - £2,123) owed to the director of the company. The loan is interest free and repayable on demand.
                                                         
Within other debtors is an amount owed to the value of £55,384 (2020 - £53,100) from a connected company. This amount is interest free and repayable on demand. 
Within other creditors is an amount owed to the value of £37,187 (2020 - £37,265) to another connected company. This amount is interest free and repayable on demand.
Within other creditors is an amount owed to the value of £Nil (2020 - £19,471) to another connected company. This amount is interest free and repayable on demand.

 
Page 4