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Company Registration No. 06400316 (England and Wales)
Juice Moving Images Limited Unaudited accounts for the year ended 28 February 2023
Juice Moving Images Limited Unaudited accounts Contents
Page
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Juice Moving Images Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
66,227 
89,147 
Tangible assets
99,415 
90,111 
165,642 
179,258 
Current assets
Debtors
760,410 
765,311 
Cash at bank and in hand
1,170,460 
1,221,669 
1,930,870 
1,986,980 
Creditors: amounts falling due within one year
(991,188)
(1,262,261)
Net current assets
939,682 
724,719 
Total assets less current liabilities
1,105,324 
903,977 
Creditors: amounts falling due after more than one year
- 
(59,818)
Provisions for liabilities
Deferred tax
(24,853)
(17,121)
Net assets
1,080,471 
827,038 
Capital and reserves
Called up share capital
1,000 
1,000 
Capital redemption reserve
2 
2 
Profit and loss account
1,079,469 
826,036 
Shareholders' funds
1,080,471 
827,038 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by
A D Poole Director Company Registration No. 06400316
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Juice Moving Images Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Juice Moving Images Limited is a private company, limited by shares, registered in England and Wales, registration number 06400316. The registered office is 2-4 The Byres, Wicklesham Lodge Farm, Farringdon, Oxfordshire, SN7 7PN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and intellectual property) are included at cost less accumulated amortisation. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives. During the year to 28 February 2022 the anticipated useful life of intellectual property was reviewed. Intellectual property was considered to have a further useful life of 2 years. The useful life of goodwill purchased during the year to 28 February 2022 was considered to have a useful life of 5 years. Amortisation is therefore provided on the following basis: Goodwill - 5 years (previously 7 Years) Intellectual property - 2 Years (previously 7 years)
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Juice Moving Images Limited Notes to the Accounts for the year ended 28 February 2023
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Government grants received in response to the Covid-19 crisis are credited to the profit and loss account in the period in which the company became entitled to receive them.
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Juice Moving Images Limited Notes to the Accounts for the year ended 28 February 2023
Share based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity. The expense in relation to options over the company's shares granted to employees of a subsidiary is recognised by the company as a capital contribution, and presented as an increase in the company's investment in the subsidiary. Cancellations or settlements are treated as acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately. The company has instigated an employee share option scheme to enable employees to acquire fully paid ordinary shares in the capital of the parent company under the relevant terms and conditions of the scheme. The scheme operates over a term not exceeding 10 years. At the balance sheet date the total number of shares potentially involved was 3,500, with 4 potential participants. The exercise price of options granted at the year end was £0.01. The expense recognised in the profit and loss for the year was £nil.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 March 2022
270,731 
50,000 
320,731 
At 28 February 2023
270,731 
50,000 
320,731 
Amortisation
At 1 March 2022
191,584 
40,000 
231,584 
Charge for the year
17,920 
5,000 
22,920 
At 28 February 2023
209,504 
45,000 
254,504 
Net book value
At 28 February 2023
61,227 
5,000 
66,227 
At 28 February 2022
79,147 
10,000 
89,147 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
280,473 
38,687 
41,495 
360,655 
Additions
47,635 
- 
5,411 
53,046 
Disposals
(5,474)
- 
- 
(5,474)
At 28 February 2023
322,634 
38,687 
46,906 
408,227 
Depreciation
At 1 March 2022
211,867 
19,933 
38,744 
270,544 
Charge for the year
33,383 
5,001 
2,126 
40,510 
On disposals
(2,242)
- 
- 
(2,242)
At 28 February 2023
243,008 
24,934 
40,870 
308,812 
Net book value
At 28 February 2023
79,626 
13,753 
6,036 
99,415 
At 28 February 2022
68,606 
18,754 
2,751 
90,111 
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Juice Moving Images Limited Notes to the Accounts for the year ended 28 February 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
586,515 
575,193 
Amounts due from group undertakings etc.
46,558 
46,443 
Accrued income and prepayments
110,901 
126,286 
Other debtors
16,436 
17,389 
760,410 
765,311 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,383 
103,261 
VAT
139,168 
117,540 
Trade creditors
75,994 
188,474 
Taxes and social security
117,259 
134,709 
Other creditors
35,935 
28,504 
Loans from directors
95 
43 
Accruals
148,473 
272,082 
Deferred income
453,881 
417,648 
991,188 
1,262,261 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
59,818 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 28 February 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
26,212 
Later than one year and not later than five years
265,632 
- 
265,632 
26,212 
10
Transactions with related parties
The company is a subsidiary of Cake Positive Ltd. Accordingly, the company has taken advantage of the exemption in section 33 of FRS 102 from disclosing transactions with the group.
11
Controlling party
The parent company is Cake Positive Ltd a company incorporated in England and Wales. Their registered office is 2-4 The Byres, Wicklesham Lodge Farm, Farringdon, Oxfordshire SN7 7PN.
12
Average number of employees
During the year the average number of employees was 26 (2022: 21).
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