JUNETIDE LIMITED
Registered number: 06621262
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,358 9,811
Current assets
Stocks 1,313 1,102
Cash at bank and in hand 44,233 51,808
45,546 52,910
Creditors: amounts falling due within one year 4 (14,987) (18,190)
Net current assets 30,559 34,720
Total assets less current liabilities 37,917 44,531
Creditors: amounts falling due after more than one year 5 (19,152) (28,541)
Net assets 18,765 15,990
Capital and reserves
Called up share capital 1 1
Profit and loss account 18,764 15,989
Shareholders' funds 18,765 15,990
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.
D Patel
Director
Approved by the board on 24 January 2024
JUNETIDE LIMITED
Notes to the Accounts
for the year ended 30 June 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
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:
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 54,443
At 30 June 2023 54,443
Depreciation
At 1 July 2022 44,632
Charge for the year 2,453
At 30 June 2023 47,085
Net book value
At 30 June 2023 7,358
At 30 June 2022 9,811
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,400 11,400
Corporation tax 2,220 1,790
Directors loan - 4,000
Accruals 1,000 1,000
Other taxes and social security costs 367 -
14,987 18,190
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,152 28,541
6 Other information
JUNETIDE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 2 NOGGIS HAIRDRESSING
UNIT 2, TOTAL FITNESS, WATER MEEETINGS ROAD
Bolton
BL1 8TT
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