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REGISTERED NUMBER: 07327235 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JOEL RICHMOND LIMITED

JOEL RICHMOND LIMITED (REGISTERED NUMBER: 07327235)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOEL RICHMOND LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: J R Trott





REGISTERED OFFICE: The Old Creamery
North Barrow
Yeovil
Somerset
BA22 7LZ





REGISTERED NUMBER: 07327235 (England and Wales)






JOEL RICHMOND LIMITED (REGISTERED NUMBER: 07327235)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,638 42,478

CURRENT ASSETS
Stocks 9,296 1,210
Debtors 5 41,514 58,727
Cash at bank 31,911 27,240
82,721 87,177
CREDITORS
Amounts falling due within one year 6 58,962 64,557
NET CURRENT ASSETS 23,759 22,620
TOTAL ASSETS LESS CURRENT LIABILITIES 60,397 65,098

CREDITORS
Amounts falling due after more than one year 7 40,387 47,618
NET ASSETS 20,010 17,480

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 20,009 17,479
SHAREHOLDERS' FUNDS 20,010 17,480

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

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

The director acknowledges his 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 RICHMOND LIMITED (REGISTERED NUMBER: 07327235)

BALANCE SHEET - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2024 and were signed by:





J R Trott - Director


JOEL RICHMOND LIMITED (REGISTERED NUMBER: 07327235)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Joel Richmond 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.

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 etc - at varying rates on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

JOEL RICHMOND LIMITED (REGISTERED NUMBER: 07327235)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 88,705
Additions 2,938
Disposals (3,119 )
At 31 December 2023 88,524
DEPRECIATION
At 1 January 2023 46,227
Charge for year 8,497
Eliminated on disposal (2,838 )
At 31 December 2023 51,886
NET BOOK VALUE
At 31 December 2023 36,638
At 31 December 2022 42,478

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,205 55,144
Other debtors 5,309 3,583
41,514 58,727

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,229 13,216
Trade creditors 3,777 3,931
Taxation and social security 42,170 42,987
Other creditors 5,786 4,423
58,962 64,557

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 40,387 47,618

JOEL RICHMOND LIMITED (REGISTERED NUMBER: 07327235)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,472 18,703