Company Registration No. 09596226 (England and Wales)
JOYFULTEX LTD
Unaudited accounts
for the year ended 31 May 2023
JOYFULTEX LTD
Unaudited accounts
Contents
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
JOYFULTEX LTD
Statement of financial position
as at 31 May 2023
Tangible assets
5,793
6,989
Cash at bank and in hand
3,002
2,405
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)
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
JOYFULTEX LTD
Notes to the Accounts
for the year ended 31 May 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
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
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
At 31 May 2023
890
4,903
-
5,793
At 31 May 2022
1,641
4,903
445
6,989
JOYFULTEX LTD
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
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
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).