2023-04-012024-03-312024-03-31false13279508JOHAL COVENTRY 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JOHAL COVENTRY LIMITED

Registered Number
13279508
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

JOHAL COVENTRY LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Baljinder Singh Johal

Registered Address

Unit 9b Cannon Park Centre
Lynchgate Road
Coventry
CV4 7EH

Registered Number

13279508 (England and Wales)
JOHAL COVENTRY LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets318,17120,621
Tangible assets446,01955,180
64,19075,801
Current assets
Stocks53,1092,228
Debtors613,7229,889
Cash at bank and on hand77,100107,221
93,931119,338
Creditors amounts falling due within one year7(97,844)(125,210)
Net current assets (liabilities)(3,913)(5,872)
Total assets less current liabilities60,27769,929
Net assets60,27769,929
Capital and reserves
Called up share capital100100
Profit and loss account60,17769,829
Shareholders' funds60,27769,929
The financial statements were approved and authorised for issue by the Director on 29 July 2024, and are signed on its behalf by:
Baljinder Singh Johal
Director
Registered Company No. 13279508
JOHAL COVENTRY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially measured at the cost. After initial recognition, intangible assets are measures at cost less accumulated amortisation and any accumulated impairment losses. Intangible assets are being amortised over its useful life of 10 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings3.6
Plant and machinery5
Fixtures and fittings5
Office Equipment4
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year1312
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 April 239,50015,00024,500
At 31 March 249,50015,00024,500
Amortisation and impairment
At 01 April 231,5042,3753,879
Charge for year9501,5002,450
At 31 March 242,4543,8756,329
Net book value
At 31 March 247,04611,12518,171
At 31 March 237,99612,62520,621
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2310,5001,65066,5851,81680,551
Additions--8,8083889,196
At 31 March 2410,5001,65075,3932,20489,747
Depreciation and impairment
At 01 April 234,64035720,04233225,371
Charge for year2,93533014,63845418,357
At 31 March 247,57568734,68078643,728
Net book value
At 31 March 242,92596340,7131,41846,019
At 31 March 235,8601,29346,5431,48455,180
5.Stocks

2024

2023

££
Raw materials and consumables3,1092,228
Total3,1092,228
6.Debtors: amounts due within one year

2024

2023

££
Other debtors11,9958,582
Prepayments and accrued income1,7271,307
Total13,7229,889
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,91310,667
Taxation and social security16,17027,239
Other creditors79,76187,304
Total97,844125,210
8.Related party transactions
Included in other creditors at the year end is an amount of £59,120 (2023:£53,732) due to the directors.