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REGISTERED NUMBER: 04058093 (England and Wales)








Unaudited Financial Statements

for the Year Ended

28 February 2023

for

Junction 2 Interiors Limited

Junction 2 Interiors Limited (Registered number: 04058093)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Junction 2 Interiors Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: S S Pnaiser
Mrs S K Pnaiser
P S Pnaiser





SECRETARY: Mrs S K Pnaiser





REGISTERED OFFICE: 870 Wolverhampton Road
Oldbury
Warley
West Midlands
B69 4RS





REGISTERED NUMBER: 04058093 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Junction 2 Interiors Limited (Registered number: 04058093)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 266,974 196,218
Investments 5 1 1
266,975 196,219

CURRENT ASSETS
Stocks 749,825 837,500
Debtors 6 136,064 156,782
Cash at bank and in hand 1,370,825 1,012,424
2,256,714 2,006,706
CREDITORS
Amounts falling due within one year 7 1,553,304 1,411,085
NET CURRENT ASSETS 703,410 595,621
TOTAL ASSETS LESS CURRENT
LIABILITIES

970,385

791,840

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 969,385 790,840
SHAREHOLDERS' FUNDS 970,385 791,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Income Statement has not been delivered.

The financial statements were approved and authorised by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





P S Pnaiser - Director


Junction 2 Interiors Limited (Registered number: 04058093)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Junction 2 Interiors Limited 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.

Preparation of consolidated financial statements
The financial statements contain information about Junction 2 Interiors Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Fixtures and fittings -15% on cost
Motor vehicles -20% on cost
Plant and machinery -15% on cost

Depreciation is not charged on improvements to property.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Junction 2 Interiors Limited (Registered number: 04058093)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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 18 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 174,026 29,005 95,906 38,720 337,657
Additions - - - 94,687 94,687
At 28 February 2023 174,026 29,005 95,906 133,407 432,344
DEPRECIATION
At 1 March 2022 - 29,005 81,458 30,976 141,439
Charge for year - - 3,257 20,674 23,931
At 28 February 2023 - 29,005 84,715 51,650 165,370
NET BOOK VALUE
At 28 February 2023 174,026 - 11,191 81,757 266,974
At 28 February 2022 174,026 - 14,448 7,744 196,218

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 1
NET BOOK VALUE
At 28 February 2023 1
At 28 February 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,102 -
Amounts owed by group undertakings 78,376 106,376
Other debtors 31,586 50,406
136,064 156,782

Junction 2 Interiors Limited (Registered number: 04058093)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,135,932 1,080,666
Taxation and social security 208,127 163,347
Other creditors 209,245 167,072
1,553,304 1,411,085

8. RELATED PARTY DISCLOSURES

At the end of the year the amount owed to the directors was £2,715 (2022: £120). The business premises used by the company are owned by some of the directors. Rent amounting to £40,000 (2022: £40,000) was paid to them during the period.