Jo-Bi Martial Arts Limited |
Registered number |
Balance Sheet |
06440300 |
as at 28 February 2023 |
|
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
656 |
|
|
195 |
|
Current assets |
Stocks |
|
|
17,326 |
|
|
17,226 |
Debtors |
3 |
|
5,944 |
|
|
6,217 |
Cash at bank and in hand |
|
|
9,460 |
|
|
26,917 |
|
|
|
32,730 |
|
|
50,360 |
|
Creditors: amounts falling due within one year |
4 |
|
(22,510) |
|
|
(30,572) |
|
Net current assets |
|
|
|
10,220 |
|
|
19,788 |
|
Total assets less current liabilities |
|
|
|
10,876 |
|
|
19,983 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(13,934) |
|
|
(15,913) |
|
Net (liabilities)/assets |
|
|
|
(3,058) |
|
|
4,070 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
(3,060) |
|
|
4,068 |
|
Shareholders' funds |
|
|
|
(3,058) |
|
|
4,070 |
|
|
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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. |
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|
|
|
A Birch |
Director |
Approved by the board on 2 October 2023 |
|
Jo-Bi Martial Arts Limited |
Notes to the Accounts |
for the year ended 28 February 2023 |
|
|
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. |
|
|
Going concern basis |
|
The accounts have been prepared on the going concern basis. The directors believe this basis to be appropriate since, although the company had net liabilities at the balance sheet date, it is assumed that the company's directors and creditors will continue to provide such financial support to the company as is necessary for it to continue operating. |
|
|
Turnover |
|
Turnover represents the amount receivable by the company for goods and services supplied. |
|
|
Grants receivable |
|
Government grants are accounted for in the period in which the grant proceeds become receivable. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation has been provided at the following rate to write off the cost over the assets' expected useful life: |
|
|
Equipment - |
25% p.a. on the reducing balance basis |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
|
|
2 |
Tangible fixed assets |
Equipment |
£ |
|
Cost |
|
At 1 March 2022 |
3,600 |
|
Additions |
679 |
|
At 28 February 2023 |
4,279 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 March 2022 |
3,405 |
|
Charge for the year |
218 |
|
At 28 February 2023 |
3,623 |
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2023 |
656 |
|
At 28 February 2022 |
195 |
|
|
|
3 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Corporation tax |
|
|
|
|
1,703 |
|
- |
|
Other debtors |
4,241 |
|
6,217 |
|
|
|
|
|
|
5,944 |
|
6,217 |
|
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loan |
1,978 |
|
1,929 |
|
Corporation tax |
|
|
|
|
- |
|
11,131 |
|
Other taxes and social security |
- |
|
139 |
|
Other creditors |
20,532 |
|
17,373 |
|
|
|
|
|
|
22,510 |
|
30,572 |
|
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loan |
13,934 |
|
15,913 |
|
|
|
|
|
|
|
|
|
|
|
6 |
Bank loan |
2023 |
|
2022 |
£ |
£ |
|
The bank loan includes: |
|
Instalments falling due after more than five years |
5,511 |
|
7,698 |
|
|
|
|
|
|
|
|
|
|
The loan carries interest at the rate of 2.5% p.a. |
|
|
|
7 |
Financial commitments |
|
|
At 28 February 2023 the company was committed to future payments of rent and service charges of £17,993 (2022: £37,481) on its business premises, covering the period up to January 2024. |
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|
|
8 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of employees and company officers |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
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|
9 |
Controlling parties |
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|
At 28 February 2023 the company was controlled by Mrs A Birch and Mr D Birch, who between them owned the company's entire issued share capital. |
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|
|
10 |
Other information |
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Jo-Bi Martial Arts Limited is a private company limited by shares and incorporated in England. Its registered office is 1 Britten Close, Langdon Hills, Basildon, Essex SS16 6TB. |