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REGISTERED NUMBER: 11313109 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

JOEL MICHAELS REYNOLDS LTD

JOEL MICHAELS REYNOLDS LTD (REGISTERED NUMBER: 11313109)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOEL MICHAELS REYNOLDS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: J Michaels
D Reynolds
K Kean Man





SECRETARY: R Cook





REGISTERED OFFICE: 1st Floor Office Pentagon House
Wealden Ind Est
Farningham Road
Crowborough
East Sussex
TN6 2JR





REGISTERED NUMBER: 11313109 (England and Wales)





ACCOUNTANTS: Numis Limited
1st Floor Pentagon House
Wealden Ind Estate
Farningham Road
Crowborough
East Sussex
TN6 2JR

JOEL MICHAELS REYNOLDS LTD (REGISTERED NUMBER: 11313109)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,686 4,600

CURRENT ASSETS
Debtors 5 146,527 158,397
Cash at bank 189,957 153,379
336,484 311,776
CREDITORS
Amounts falling due within one year 6 132,482 110,346
NET CURRENT ASSETS 204,002 201,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

208,688

206,030

PROVISIONS FOR LIABILITIES 7 1,172 874
NET ASSETS 207,516 205,156

CAPITAL AND RESERVES
Called up share capital 150 100
Retained earnings 207,366 205,056
SHAREHOLDERS' FUNDS 207,516 205,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JOEL MICHAELS REYNOLDS LTD (REGISTERED NUMBER: 11313109)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:




J Michaels - Director



D Reynolds - Director


JOEL MICHAELS REYNOLDS LTD (REGISTERED NUMBER: 11313109)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Joel Michaels Reynolds Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

JOEL MICHAELS REYNOLDS LTD (REGISTERED NUMBER: 11313109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 495 605 8,647 9,747
Additions - - 1,331 1,331
At 31 July 2023 495 605 9,978 11,078
DEPRECIATION
At 1 August 2022 303 358 4,486 5,147
Charge for year 48 61 1,136 1,245
At 31 July 2023 351 419 5,622 6,392
NET BOOK VALUE
At 31 July 2023 144 186 4,356 4,686
At 31 July 2022 192 247 4,161 4,600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 133,436 146,607
Other debtors 13,091 11,790
146,527 158,397

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 1,082 5,439
Taxation and social security 126,484 102,407
Other creditors 4,916 2,500
132,482 110,346

7. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax
Accelerated capital allowances 1,172 874

Deferred
tax
£   
Balance at 1 August 2022 874
Accelerated capital allowances 298
Balance at 31 July 2023 1,172

JOEL MICHAELS REYNOLDS LTD (REGISTERED NUMBER: 11313109)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
J Michaels
Balance outstanding at start of year (21 ) (2 )
Amounts advanced (312 ) (19 )
Amounts repaid 21 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) (21 )

D Reynolds
Balance outstanding at start of year (28 ) -
Amounts advanced (312 ) (28 )
Amounts repaid 28 -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) (28 )

K Kean Man
Balance outstanding at start of year - -
Amounts advanced (312 ) -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) -

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £92,564 (2022 - £54,300) were paid to the directors .

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.