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Company Registration No. 09596226 (England and Wales)
JOYFULTEX LTD Unaudited accounts for the year ended 31 May 2023
JOYFULTEX LTD Unaudited accounts Contents
Page
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JOYFULTEX LTD Company Information for the year ended 31 May 2023
Directors
Esther Olufunmilayo AKINPELU OKEOWO, Emmaunal Ademola
Company Number
09596226 (England and Wales)
Registered Office
16 WESTLYN CLOSE RAINHAM RM13 9JP ENGLAND
Accountants
L&S Accounting Firm 2nd Floor Ebenezer House 2-10 St Johns Street Bedford MK42 0DH
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JOYFULTEX LTD Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,793 
6,989 
Current assets
Debtors
5,476 
5,476 
Cash at bank and in hand
3,002 
2,405 
8,478 
7,881 
Creditors: amounts falling due within one year
- 
6,070 
Net current assets
8,478 
13,951 
Total assets less current liabilities
14,271 
20,940 
Creditors: amounts falling due after more than one year
(25,613)
(28,888)
Net liabilities
(11,342)
(7,948)
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
(11,542)
(8,148)
Shareholders' funds
(11,342)
(7,948)
For the year 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 directors acknowledge their 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 of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by
Esther Olufunmilayo AKINPELU Director Company Registration No. 09596226
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JOYFULTEX LTD Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
JOYFULTEX LTD is a private company, limited by shares, registered in England and Wales, registration number 09596226. The registered office is 16 WESTLYN CLOSE, RAINHAM, RM13 9JP, 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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
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:
Computer equipment
33.33%
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
3,005 
9,809 
2,605 
15,419 
At 31 May 2023
3,005 
9,809 
2,605 
15,419 
Depreciation
At 1 June 2022
1,364 
4,906 
2,160 
8,430 
Charge for the year
751 
- 
445 
1,196 
At 31 May 2023
2,115 
4,906 
2,605 
9,626 
Net book value
At 31 May 2023
890 
4,903 
- 
5,793 
At 31 May 2022
1,641 
4,903 
445 
6,989 
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JOYFULTEX LTD Notes to the Accounts for the year ended 31 May 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,476 
5,476 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
- 
(6,070)
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
25,613 
28,888 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200 
200 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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