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REGISTERED NUMBER: 07000677 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2023

FOR

JOYCE DESIGN UK LIMITED

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


JOYCE DESIGN UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: R S Joyce
Mrs K Joyce





REGISTERED OFFICE: Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF





REGISTERED NUMBER: 07000677 (England and Wales)





ACCOUNTANTS: Bentens
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JOYCE DESIGN UK LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Joyce Design UK Limited for the year ended 31 August 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Joyce Design UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Joyce Design UK Limited and state those matters that we have agreed to state to the Board of Directors of Joyce Design UK Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Joyce Design UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Joyce Design UK Limited. You consider that Joyce Design UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Joyce Design UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bentens
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF


25 January 2024

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 561,608 286,634

CURRENT ASSETS
Stocks 5 128,000 215,109
Debtors 6 231,826 242,299
Cash at bank and in hand 449,205 580,239
809,031 1,037,647
CREDITORS
Amounts falling due within one year 7 176,879 260,651
NET CURRENT ASSETS 632,152 776,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,193,760

1,063,630

CREDITORS
Amounts falling due after more than one
year

8

(94,338

)

(42,340

)

PROVISIONS FOR LIABILITIES 10 (80,013 ) (50,937 )
NET ASSETS 1,019,409 970,353

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,019,309 970,253
SHAREHOLDERS' FUNDS 1,019,409 970,353

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

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

The directors acknowledge their 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.

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:




R S Joyce - Director



Mrs K Joyce - Director


JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Joyce Design UK 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 comprises the value of goods and services supplied by the company, net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Motor
property Equipment vehicles Totals
£    £    £    £   
COST
At 1 September 2022 138,077 407,811 74,987 620,875
Additions 206,204 58,017 89,839 354,060
Disposals - (28,000 ) - (28,000 )
At 31 August 2023 344,281 437,828 164,826 946,935
DEPRECIATION
At 1 September 2022 - 306,020 28,221 334,241
Charge for year - 38,289 34,152 72,441
Eliminated on disposal - (21,355 ) - (21,355 )
At 31 August 2023 - 322,954 62,373 385,327
NET BOOK VALUE
At 31 August 2023 344,281 114,874 102,453 561,608
At 31 August 2022 138,077 101,791 46,766 286,634

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2022 60,576
Additions 89,839
At 31 August 2023 150,415
DEPRECIATION
At 1 September 2022 15,144
Charge for year 33,818
At 31 August 2023 48,962
NET BOOK VALUE
At 31 August 2023 101,453
At 31 August 2022 45,432

5. STOCKS
2023 2022
£    £   
Stocks 46,000 57,500
Work-in-progress 82,000 157,609
128,000 215,109

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 224,206 233,084
Other debtors 5,500 5,500
Prepayments and accrued income 2,120 3,715
231,826 242,299

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 15,198 8,930
Trade creditors 82,340 133,087
Corporation tax 8,670 35,069
Social security and other taxes 9,692 6,475
VAT 48,593 63,956
Other creditors 8,005 7,819
Directors' current accounts 666 1,590
Accruals and deferred income 3,715 3,725
176,879 260,651

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 94,338 42,340

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year 22,262 9,941
Between one and five years 100,838 43,577
123,100 53,518

Finance charges repayable:
Within one year 7,064 1,011
Between one and five years 6,500 1,237
13,564 2,248

Net obligations repayable:
Within one year 15,198 8,930
Between one and five years 94,338 42,340
109,536 51,270

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 16,708 13,189
Between one and five years 22,423 10,849
39,131 24,038

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 80,013 50,937

Deferred
tax
£   
Balance at 1 September 2022 50,937
Charge for the year 29,076
Balance at 31 August 2023 80,013

11. RELATED PARTY DISCLOSURES

During the year dividends totalling £115,671 were paid to R S Joyce and Mrs K Joyce, the directors of the company (2022 £147,113).

12. ULTIMATE CONTROLLING PARTY

The controlling party is R S Joyce by virtue of his ownership of 55% of the issued share capital of the company.