Company registration number 09127734 (England and Wales)
JOYSON SAFETY SYSTEMS UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
JOYSON SAFETY SYSTEMS UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JOYSON SAFETY SYSTEMS UK LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
201,964
140,526
Cash at bank and in hand
30,820
89,622
232,784
230,148
Creditors: amounts falling due within one year
5
(49,654)
(55,805)
Net current assets
183,130
174,343
Provisions for liabilities
-
0
364
Net assets
183,130
174,707
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
183,128
174,705
Total equity
183,130
174,707

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 10 September 2024
Mr PA Lincoln
Director
Company registration number 09127734 (England and Wales)
JOYSON SAFETY SYSTEMS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Joyson Safety Systems UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

JOYSON SAFETY SYSTEMS UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
4,250
4,250
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
6
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
200,733
138,872
Other debtors
1,231
1,654
201,964
140,526
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
310
4,044
Amounts owed to group undertakings and undertakings in which the company has a participating interest
37,764
37,764
Taxation and social security
11,580
13,997
49,654
55,805
JOYSON SAFETY SYSTEMS UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Matthew Wilkinson BSc FCA
Statutory Auditor:
Moore Green
Date of audit report:
10 September 2024
7
Related party transactions

Included in amounts owed to group undertakings are the following balances owed to related group companies:-

 

£37,573 due to Key Safety Systems Inc

£191 due to Joyson Safety Systems Germany

 

Other debtors is made up of the following amounts due from related group companies:-

 

£43,362 due from Joyson Safety Systems Germany

£157,370 due from Joyson Safety Systems Aschaffenburg

 

Sales made during the year to these group companies totalled:-

 

£187,374 to Joyson Safety Systems Germany

£251,905 to Joyson Safety Systems Aschaffenburg

 

 

8
Controlling party

The company is controlled by Key Safety Systems Luxembourg SARL who owns 100% of the issued share capital.

 

The ultimate controlling party is Ningbo Joyson Electronic Corporation, a company incorporated in China.

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