Registered number
07092266
JOINTVIEW LTD
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 DECEMBER 2022
DVL & CO ACCOUNTANTS
48 MELFORD ROAD
WALTHAMSTOW
LONDON E17 7EL
JOINT VIEW LIMITED
Report and accounts
Contents
Page
Company information 1
Director's report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6 - 9
For directors informations only:
Detailed profit and loss accounts 10 - 11
Accountants 12
JOINT VIEW LIMITED
Company Information
Director
Mr Karan Thavarajalingam
Secretary
Mrs N Karan
Accountants
DVL AND CO Accountants
Melford Road
London
E17 7EL
Bankers
Lloyds Bank Plc
25 Gresham Street
London
EC2V 7HN
Registered office
48
Melford Road
London
E17 7EL
Registered number
07092266
JOINT VIEW LIMITED
Registered number: 07092266
Director's Report
The director presents his report and accounts for the year ended 31 December 2022.
Principal activities
The company's principal activity during the year was off licence and retail food shop.
Directors
The following persons served as directors during the year:
Mr K Thavarajalingam
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 28 September 2023 and signed by its order.
Mr Karan Thavarajalingam
Director
Secretary
JOINT VIEW LIMITED
Profit and Loss Account
for the year ended 31 December 2022
2022 2021
£ £
Turnover 430,871 372,897
Cost of sales (342,873) (300,955)
Gross profit 87,998 71,942
Administrative expenses (81,470) (61,999)
Other operating income 2,616 2,863
Operating profit 9,144 12,806
Interest payable (2,293) (1,696)
Profit before taxation 6,851 11,110
Tax on profit (2,792) (2,865)
Profit for the financial year 4,059 8,245
Continuing operations
None of the company's activities were acquired or discontinued during the
above two financial years.
Total recognised gains and losses
The company made no recognised gains or losses other than the profit for
the above two years.
JOINT VIEW LIMITED
Registered number: 07092266
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 35,012 37,203
Tangible assets 4 223,443 224,827
258,455 262,030
Current assets
Stocks 30,990 31,390
Debtors 5 5,273 14,360
Cash at bank and in hand 7,259 10,400
43,522 56,150
Creditors: amounts falling due within one year 6 (114,261) (110,673)
Net current liabilities (70,739) (54,523)
Total assets less current liabilities 187,716 207,507
Creditors: Bank Loan & Bounce back loan due after more than one year 7 (137,918) (153,768)
Net assets 49,798 53,739
Capital and reserves
Called up share capital 100 100
Revaluation reserve 9 41,213 41,213
Profit and loss account 8,485 12,426
Shareholders' funds 49,798 53,739
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Karan Thavarajalingam
Director
Approved by the board on 28 September 2023
JOINT VIEW LIMITED
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 15% Written down value
Fixtures, fittings, tools and equipment 15% Written down value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2022 54,710
At 31 December 2022 54,710
Amortisation
At 1 January 2022 17,507
Provided during the year 2,191
At 31 December 2022 19,698
Net book value
At 31 December 2022 35,012
At 31 December 2021 37,203
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 218,213 9,505 12,390 240,108
At 31 December 2022 218,213 9,505 12,390 240,108
Depreciation
At 1 January 2022 - 6,811 8,470 15,281
Charge for the year - 404 980 1,384
At 31 December 2022 - 7,215 9,450 16,665
Net book value
At 31 December 2022 218,213 2,290 2,940 223,443
At 31 December 2021 218,213 2,694 3,920 224,827
5 Debtors 2022 2021
£ £
Vat refund & prepayment 5,273 14,360
6 Creditors: amounts falling due within one year
Trade creditors 1,516 -
Taxation and social security costs 2,792 5,360
Other creditors 109,953 105,313
114,261 110,673
7 Creditors: amounts falling due after one year
Bank loan & bounce back loan 137,918 153,768
8 Loans
Creditors include:
Secured bank loans 137,918 153,768
Bank loans are secured by a debenture incorporating a fixed and floating charge over the assets owned by the company.
9 Revaluation reserve 2022 2021
£ £
At 1 January 2022 41,213 41,213
At 31 December 2022 41,213 41,213
10 Ralated party transcation
The company was under control of Mr K Thavarajalingam,a director and member of his close familey
thoughout the year.
The balance on theDirector's Loan Accounts at 31 December 2022 was £97,890 (2021- £100,820)
included in note 6 above.
The company paid rent charges of £9,250 at arms length and in the ordinary course of business
to Mr K Thavarajalingm
11 Other information
JOINT VIEW LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
48
Melford Road
London
E17 7EL
JOINT VIEW LIMITED 07092266 false 2022-01-01 2022-12-31 2022-12-31 VT Final Accounts April 2022 07092266 2021-01-01 2021-12-31 07092266 core:WithinOneYear 2021-12-31 07092266 core:AfterOneYear 2021-12-31 07092266 core:ShareCapital 2021-12-31 07092266 core:OtherReservesSubtotal 2021-12-31 07092266 core:RetainedEarningsAccumulatedLosses 2021-12-31 07092266 core:RevaluationReserve 2020-12-31 07092266 2022-01-01 2022-12-31 07092266 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 07092266 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 07092266 bus:Director1 2022-01-01 2022-12-31 07092266 bus:CompanySecretary1 2022-01-01 2022-12-31 07092266 1 2022-01-01 2022-12-31 07092266 2 2022-01-01 2022-12-31 07092266 core:Goodwill 2022-01-01 2022-12-31 07092266 core:LandBuildings 2022-01-01 2022-12-31 07092266 core:PlantMachinery 2022-01-01 2022-12-31 07092266 core:Vehicles 2022-01-01 2022-12-31 07092266 countries:England 2022-01-01 2022-12-31 07092266 bus:FRS102 2022-01-01 2022-12-31 07092266 bus:FullAccounts 2022-01-01 2022-12-31 07092266 2022-12-31 07092266 core:WithinOneYear 2022-12-31 07092266 core:AfterOneYear 2022-12-31 07092266 core:ShareCapital 2022-12-31 07092266 core:OtherReservesSubtotal 2022-12-31 07092266 core:RetainedEarningsAccumulatedLosses 2022-12-31 07092266 core:Goodwill 2022-12-31 07092266 core:LandBuildings 2022-12-31 07092266 core:PlantMachinery 2022-12-31 07092266 core:Vehicles 2022-12-31 07092266 core:RevaluationReserve 2022-12-31 07092266 2021-12-31 07092266 core:Goodwill 2021-12-31 07092266 core:LandBuildings 2021-12-31 07092266 core:PlantMachinery 2021-12-31 07092266 core:Vehicles 2021-12-31 07092266 core:RevaluationReserve 2021-12-31 iso4217:GBP xbrli:pure