Registered number
06440300
Jo-Bi Martial Arts Limited
Filleted Accounts
28 February 2023
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.
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.
8 Employees 2023 2022
Number Number
Average number of employees and company officers 2 2
9 Controlling parties
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.
10 Other information
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.
Jo-Bi Martial Arts Limited 06440300 false 2022-03-01 2023-02-28 2023-02-28 VT Final Accounts April 2022 A Birch No description of principal activity 06440300 2021-03-01 2022-02-28 06440300 core:WithinOneYear 2022-02-28 06440300 core:AfterOneYear 2022-02-28 06440300 core:ShareCapital 2022-02-28 06440300 core:RetainedEarningsAccumulatedLosses 2022-02-28 06440300 core:MoreThanFiveYears 2022-02-28 06440300 2022-03-01 2023-02-28 06440300 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06440300 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 06440300 bus:Director40 2022-03-01 2023-02-28 06440300 core:PlantMachinery 2022-03-01 2023-02-28 06440300 countries:England 2022-03-01 2023-02-28 06440300 bus:FRS102 2022-03-01 2023-02-28 06440300 bus:FullAccounts 2022-03-01 2023-02-28 06440300 2023-02-28 06440300 core:WithinOneYear 2023-02-28 06440300 core:AfterOneYear 2023-02-28 06440300 core:ShareCapital 2023-02-28 06440300 core:RetainedEarningsAccumulatedLosses 2023-02-28 06440300 core:PlantMachinery 2023-02-28 06440300 core:MoreThanFiveYears 2023-02-28 06440300 2022-02-28 06440300 core:PlantMachinery 2022-02-28 iso4217:GBP xbrli:pure