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Registration number: 04648798

Juice Creative Design Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Juice Creative Design Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Juice Creative Design Limited

Company Information

Directors

N. J. Taylor

M. A. Hodgkinson

Registered office

Unit 16
King Street Buildings
Enderby
Leicester
LE19 4NT

Accountants

Robert Whowell & Partners LLP
Chartered Accountants
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

Juice Creative Design Limited

(Registration number: 04648798)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

341,244

345,562

Current assets

 

Stocks

5

10,785

12,722

Debtors

6

1,390,149

1,082,820

Cash at bank and in hand

 

393,175

676,106

 

1,794,109

1,771,648

Creditors: Amounts falling due within one year

7

(572,305)

(688,389)

Net current assets

 

1,221,804

1,083,259

Total assets less current liabilities

 

1,563,048

1,428,821

Creditors: Amounts falling due after more than one year

7

(50,069)

(100,128)

Provisions for liabilities

(85,023)

(83,467)

Net assets

 

1,427,956

1,245,226

Capital and reserves

 

Called up share capital

8

9,000

9,000

Share premium reserve

3,300

3,300

Capital redemption reserve

1,000

1,000

Retained earnings

1,414,656

1,231,926

Shareholders' funds

 

1,427,956

1,245,226

 

Juice Creative Design Limited

(Registration number: 04648798)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 

.........................................
N. J. Taylor
Director

 

Juice Creative Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Unit 16
King Street Buildings
Enderby
Leicester
LE19 4NT

These financial statements were authorised for issue by the Board on 13 August 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

The financial statements have been prepared on a 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 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

 

Juice Creative Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% reducing balance

Fixtures, fittings and equipment

20% reducing balance

Motor vehicles

20% reducing balance

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 debtor.

 

Juice Creative Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of stocks comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

 

Juice Creative Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2022 - 30).

 

Juice Creative Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Leasehold improvements
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 January 2023

86,138

369,877

188,782

644,797

Additions

-

79,450

-

79,450

Disposals

-

(68,926)

-

(68,926)

At 31 December 2023

86,138

380,401

188,782

655,321

Depreciation

At 1 January 2023

56,654

196,941

45,640

299,235

Charge for the year

5,897

41,040

28,628

75,565

Eliminated on disposal

-

(60,723)

-

(60,723)

At 31 December 2023

62,551

177,258

74,268

314,077

Carrying amount

At 31 December 2023

23,587

203,143

114,514

341,244

At 31 December 2022

29,484

172,936

143,142

345,562

5

Stocks

2023
£

2022
£

Consumables

10,785

12,722

 

Juice Creative Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

674,259

643,415

Prepayments

27,981

18,634

Other debtors

687,909

420,771

 

1,390,149

1,082,820

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

50,059

19,176

Trade creditors

 

68,023

94,933

Taxation and social security

 

326,777

257,592

Accruals and deferred income

 

122,215

311,162

Other creditors

 

5,231

5,526

 

572,305

688,389

Creditors include obligations under finance lease and hire purchase contracts which are secured of £50,059 (2022 - £19,176) against the assets to which they relate.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

50,069

100,128

Creditors include obligations under finance lease and hire purchase contracts which are secured of £50,069 (2022 - £100,128) against the assets to which they relate.

 

Juice Creative Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

9,000

9,000

9,000

9,000

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

50,069

100,128

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

50,059

19,176

10

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advanced
£

Repaid
£

At 31 December 2023
£

Directors' loans

420,771

697,138

(430,000)

687,909

         
       

 

2022

At 1 January 2022
£

Advanced
£

Repaid
£

At 31 December 2022
£

Directors' loans

570,449

430,322

(580,000)

420,771

         
       

 

The company authorised an unsecured, interest-free loan to the directors totalling £687,909. This will be repaid by 30 September 2024.