Company Registration No. 06467209 (England and Wales)
Piojito Limited
Unaudited financial statements
For the year ended 31 January 2023
Pages for filing with registrar
PIOJITO LIMITED
Piojito Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PIOJITO LIMITED
Piojito Limited
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,378
4,560
Current assets
Stocks
48,669
11,060
Debtors
4
48,065
49,934
Cash at bank and in hand
120,429
161,901
217,163
222,895
Creditors: amounts falling due within one year
5
(126,092)
(73,337)
Net current assets
91,071
149,558
Net assets
94,449
154,118
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
94,448
154,117
Total equity
94,449
154,118
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 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 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 19 October 2023
D Lazarus
Director
Company Registration No. 06467209
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
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.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents income receivable from physical and digital record sales and royalties and licence fees receivable from the exploitation of musical compositions.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Plant and machinery
33.33%
Fixtures, fittings & equipment
25.00%
1.4
Stocks
Stocks of CDs and Vinyl are stated at the lower of cost and estimated selling price.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
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.
1.7
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 and 31 January 2023
10,491
Depreciation and impairment
At 1 February 2022
5,931
Depreciation charged in the year
1,182
At 31 January 2023
7,113
Carrying amount
At 31 January 2023
3,378
At 31 January 2022
4,560
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
33
731
Corporation tax recoverable
3,265
3,244
Other debtors
44,767
45,959
48,065
49,934
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,282
10,536
Taxation and social security
3,909
5,936
Other creditors
114,901
56,865
126,092
73,337
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Share of £1 each
1
1
7
Company information
Piojito Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 2, 21 Goulton Road, London, E5 8HA.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.