Company Registration No. 14080750 (England and Wales)
JOYCE'S PALACE LTD
Unaudited accounts
for the period from 2 May 2022 to 31 May 2023
JOYCE'S PALACE LTD
Unaudited accounts
Contents
JOYCE'S PALACE LTD
Company Information
for the period from 2 May 2022 to 31 May 2023
Company Number
14080750 (England and Wales)
Registered Office
63 LONDON ROAD
CROYDON
CR0 2RF
ENGLAND
Accountants
D K OBENG GROUP
120 DALMALLY ROAD
CROYDON
SURREY
CR0 6LT
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
JOYCE'S PALACE LTD
for the period from 2 May 2022 to 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
JOYCE'S PALACE LTD for the period from
2 May 2022 to
31 May 2023 as set out on pages
5 -
7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of JOYCE'S PALACE LTD, as a body, in accordance with the terms of our engagement letter dated 2 May 2022. Our work has been undertaken solely to prepare for your approval the accounts of JOYCE'S PALACE LTD and state those matters that we have agreed to state to the Board of Directors of JOYCE'S PALACE LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JOYCE'S PALACE LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that JOYCE'S PALACE LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JOYCE'S PALACE LTD. You consider that JOYCE'S PALACE LTD is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of JOYCE'S PALACE LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
D K OBENG GROUP
Chartered Certified Accountants
120 DALMALLY ROAD
CROYDON
SURREY
CR0 6LT
20 November 2023
JOYCE'S PALACE LTD
Statement of financial position
as at 31 May 2023
Cash at bank and in hand
24,983
Creditors: amounts falling due within one year
(19,292)
Total assets less current liabilities
13,963
Provisions for liabilities
Called up share capital
100
Profit and loss account
13,194
Shareholders' funds
13,294
For the period ending 31 May 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 director acknowledges her 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 and authorised for issue on 20 November 2023 and were signed on its behalf by
Joyce Ampomah
Director
Company Registration No. 14080750
JOYCE'S PALACE LTD
Notes to the Accounts
for the period from 2 May 2022 to 31 May 2023
JOYCE'S PALACE LTD is a private company, limited by shares, registered in England and Wales, registration number 14080750. The registered office is 63 LONDON ROAD, CROYDON, CR0 2RF, ENGLAND.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Fixtures & fittings
33.33% Straight Line
Computer equipment
33.33% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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.
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
JOYCE'S PALACE LTD
Notes to the Accounts
for the period from 2 May 2022 to 31 May 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 31 May 2023
3,645
591
4,236
Charge for the period
607
107
714
At 31 May 2023
607
107
714
At 31 May 2023
3,038
484
3,522
5
Creditors: amounts falling due within one year
2023
Taxes and social security
2,809
Loans from directors
16,364
6
Average number of employees
During the period the average number of employees was 3.