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Registration number: 14174416

Join The Platform Limited

Annual Report and Unaudited Financial Statements

for the Period from 15 June 2022 to 30 June 2023

 

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Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

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Company Information

Director

H Reardon

Registered office

85 Great Portland Street
First Floor
London
W1W 7LT

Accountants

Balance Accounts Limited
Chartered Certified Accountants
4 Beau Street
Bath
BA1 1QY

 

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(Registration number: 14174416)
Balance Sheet as at 30 June 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

2,194

Current assets

 

Debtors

5

3,448

Cash at bank and in hand

 

27,244

 

30,692

Creditors: Amounts falling due within one year

6

(41,208)

Net current liabilities

 

(10,516)

Total assets less current liabilities

 

(8,322)

Creditors: Amounts falling due after more than one year

6

(4,004)

Net liabilities

 

(12,326)

Capital and reserves

 

Called up share capital

7

1

Retained earnings

(12,327)

Shareholders' deficit

 

(12,326)

For the financial period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

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(Registration number: 14174416)
Balance Sheet as at 30 June 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 March 2024
 

.........................................
H Reardon
Director

 

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Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
85 Great Portland Street
First Floor
London
W1W 7LT
England

These financial statements were authorised for issue by the director on 15 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end the company had net liabilities of £12,326. It was therefore necessary to consider the appropriateness of preparing the accounts on the going concern basis.

The director, H Reardon, made a loan to the company and the balance owing to her at the year end was £32,797. She has also confirmed her commitment to ensuring the company is able to meet its financial liabilities as they fall due.

It was therefore considered appropriate to prepare the accounts on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

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Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

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Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

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Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,583

2,583

At 30 June 2023

2,583

2,583

Depreciation

Charge for the period

389

389

At 30 June 2023

389

389

Carrying amount

At 30 June 2023

2,194

2,194

5

Debtors

Note

2023
£

Other debtors

 

660

Deferred tax assets

2,788

 

3,448

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

2,000

Trade creditors

 

2,797

Amounts due to related parties

32,797

Accruals

 

3,614

 

41,208

Due after one year

 

Loans and borrowings

4,004

 

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Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

1

1