Company registration number 09396946 (England and Wales)
JO DONOGHUE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
PAGES FOR FILING WITH REGISTRAR
JO DONOGHUE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JO DONOGHUE LTD
BALANCE SHEET
AS AT
31 JANUARY 2022
31 January 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
422
497
Current assets
Debtors
5
1,400
3,627
Cash at bank and in hand
2,049
2,565
3,449
6,192
Creditors: amounts falling due within one year
6
(2,156)
(4,896)
Net current assets
1,293
1,296
Net assets
1,715
1,793
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,714
1,792
Total equity
1,715
1,793
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 14 September 2022
Mrs J Donoghue
Director
Company Registration No. 09396946
JO DONOGHUE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
- 2 -
1
Accounting policies
Company information
Jo Donoghue Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1a Davyhulme Circle, Urmston, Manchester, Greater Manchester, M41 0ST.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
15%
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
JO DONOGHUE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Judgements and key sources of estimation uncertainty
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2021 and 31 January 2022
1,138
Depreciation and impairment
At 1 February 2021
641
Depreciation charged in the year
75
At 31 January 2022
716
Carrying amount
At 31 January 2022
422
At 31 January 2021
497
JO DONOGHUE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 4 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
1,400
3,627
6
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
1,172
4,043
Other taxation and social security
126
Other creditors
858
853
2,156
4,896