2022-05-082023-05-312023-05-31false14092697JNC STUDIOS 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JNC STUDIOS LTD

Registered Number
14092697
(England and Wales)

Unaudited Financial Statements for the Period ended
31 May 2023

JNC STUDIOS LTD
Company Information
for the period from 8 May 2022 to 31 May 2023

Director

John Willis

Registered Address

20-22 Wenlock Road
London
N1 7GU

Registered Number

14092697 (England and Wales)
JNC STUDIOS LTD
Balance Sheet as at
31 May 2023

Notes

2023

£

£

Fixed assets
Tangible assets31,836
1,836
Current assets
Cash at bank and on hand2
2
Creditors amounts falling due within one year4(3,817)
Net current assets (liabilities)(3,815)
Total assets less current liabilities(1,979)
Provisions for liabilities5(349)
Net assets(2,328)
Capital and reserves
Called up share capital100
Profit and loss account(2,428)
Shareholders' funds(2,328)
The financial statements were approved and authorised for issue by the Director on 4 March 2024, and are signed on its behalf by:
John Willis
Director
Registered Company No. 14092697
JNC STUDIOS LTD
Notes to the Financial Statements
for the period ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
2.Average number of employees

2023
Average number of employees during the year1
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions2,2952,295
At 31 May 232,2952,295
Depreciation and impairment
Charge for year459459
At 31 May 23459459
Net book value
At 31 May 231,8361,836
At 07 May 22--
4.Creditors: amounts due within one year

2023

£
Other creditors3,117
Accrued liabilities and deferred income700
Total3,817
5.Provisions for liabilities

2023

£
Net deferred tax liability (asset)349
Total349