Registered number
06095790
Justo Limited
Filleted Accounts
28 February 2023
Justo Limited
Registered number: 06095790
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 119,292 135,723
Current assets
Stocks - 404,000
Debtors 4 48,158 8,318
Cash at bank and in hand 760,387 238,640
808,545 650,958
Creditors: amounts falling due within one year 5 (551,171) (359,871)
Net current assets 257,374 291,087
Total assets less current liabilities 376,666 426,810
Creditors: amounts falling due after more than one year 6 (162,780) (241,294)
Provisions for liabilities (22,667) (25,788)
Net assets 191,219 159,728
Capital and reserves
Called up share capital 100 100
Profit and loss account 191,119 159,628
Shareholders' funds 191,219 159,728
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robert Czaplinski
Director
Approved by the board on 4 October 2023
Justo Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Current and deferred tax liabilities are not discounted.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 331,844 42,606 374,450
Additions 2,920 29,000 31,920
At 28 February 2023 334,764 71,606 406,370
Depreciation
At 1 March 2022 228,571 10,156 238,727
Charge for the year 35,951 12,400 48,351
At 28 February 2023 264,522 22,556 287,078
Net book value
At 28 February 2023 70,242 49,050 119,292
At 28 February 2022 103,273 32,450 135,723
4 Debtors 2023 2022
£ £
Trade debtors 48,158 8,318
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 58,000 48,000
Obligations under finance lease and hire purchase contracts 25,463 23,921
Trade creditors, including deferred revenue 347,450 75,897
Taxation and social security costs 93,908 211,459
Other creditors 26,350 594
551,171 359,871
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 123,358 192,000
Obligations under finance lease and hire purchase contracts 39,422 49,294
162,780 241,294
7 Other information
Justo Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Kerrington Court
314 Ladbroke Grove
London
W10 5NQ
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