Company registration number 9450646 (England and Wales)
JP DIGITAL MEDIA LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
JP DIGITAL MEDIA LIMITED
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 5
JP DIGITAL MEDIA LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -

The director presents his annual report and financial statements for the year ended 28 February 2023.

Principal activities

The principal activity of the company continued to be that of Motion picture production activities.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

J M Patel
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
J M Patel
Director
24 November 2023
JP DIGITAL MEDIA LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
128,166
64,131
Current assets
Debtors
4
24,246
51,190
Cash at bank and in hand
2,565
37,453
26,811
88,643
Creditors: amounts falling due within one year
5
(7,979)
(21,694)
Net current assets
18,832
66,949
Net assets
146,998
131,080
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
146,997
131,079
Total equity
146,998
131,080

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 28 February 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 member has 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 24 November 2023
J M Patel
Director
Company Registration No. 9450646
JP DIGITAL MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

JP Digital Media Limited is a private company limited by shares incorporated in England and Wales. The registered office is 65 Straight Bit, Flackwell Heath, High Wycombe, Buckinghamshire, HP10 9NE.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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:

Fixtures and fittings
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

JP DIGITAL MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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 March 2022
144,087
Additions
117,206
At 28 February 2023
261,293
Depreciation and impairment
At 1 March 2022
79,956
Depreciation charged in the year
53,171
At 28 February 2023
133,127
Carrying amount
At 28 February 2023
128,166
At 28 February 2022
64,131
JP DIGITAL MEDIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,712
27,091
Other debtors
16,534
24,099
24,246
51,190
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
857
Corporation tax
-
0
5,761
Other taxation and social security
887
9,562
Other creditors
7,092
5,514
7,979
21,694
6
Directors' transactions

Dividends totalling £81,000 (2022 - £127,000) were paid in the year in respect of shares held by the company's directors.

2023-02-282022-03-01false24 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityJ M Patelfalse94506462022-03-012023-02-289450646core:PriorPeriodIncreaseDecrease2022-03-012023-02-289450646bus:Director12022-03-012023-02-2894506462023-02-2894506462022-02-289450646core:OtherPropertyPlantEquipment2023-02-289450646core:OtherPropertyPlantEquipment2022-02-289450646core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-289450646core:CurrentFinancialInstrumentscore:WithinOneYear2022-02-289450646core:CurrentFinancialInstruments2023-02-289450646core:CurrentFinancialInstruments2022-02-289450646core:ShareCapital2023-02-289450646core:ShareCapital2022-02-289450646core:RetainedEarningsAccumulatedLosses2023-02-289450646core:RetainedEarningsAccumulatedLosses2022-02-289450646core:FurnitureFittings2022-03-012023-02-2894506462021-03-012022-02-289450646core:OtherPropertyPlantEquipment2022-02-289450646core:OtherPropertyPlantEquipment2022-03-012023-02-289450646core:WithinOneYear2023-02-289450646core:WithinOneYear2022-02-289450646bus:PrivateLimitedCompanyLtd2022-03-012023-02-289450646bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-289450646bus:FRS1022022-03-012023-02-289450646bus:AuditExemptWithAccountantsReport2022-03-012023-02-289450646bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP