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REGISTERED NUMBER: SC201931 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JOLOMO LIMITED

JOLOMO LIMITED (REGISTERED NUMBER: SC201931)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOLOMO LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: John Lowrie Morrison
Maureen Morrison
Callum Morrison
Peter Morrison
Simon John Morrison





SECRETARY: Maureen Morrison





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC201931 (Scotland)





ACCOUNTANTS: R A Clement Associates
Chartered Accountants
Argyll Square
Oban
Argyll
PA34 4AZ

JOLOMO LIMITED (REGISTERED NUMBER: SC201931)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 490,465 503,105
Investments 6 1,761 1,761
492,226 504,866

CURRENT ASSETS
Stocks 88,500 88,500
Debtors 7 160,434 215,669
Cash at bank 816,998 839,664
1,065,932 1,143,833
CREDITORS
Amounts falling due within one year 8 230,684 238,785
NET CURRENT ASSETS 835,248 905,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,327,474

1,409,914

CREDITORS
Amounts falling due after more than one
year

9

-

(3,524

)

PROVISIONS FOR LIABILITIES (9,494 ) (10,917 )
NET ASSETS 1,317,980 1,395,473

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,316,980 1,394,473
SHAREHOLDERS' FUNDS 1,317,980 1,395,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JOLOMO LIMITED (REGISTERED NUMBER: SC201931)

BALANCE SHEET - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





John Lowrie Morrison - Director


JOLOMO LIMITED (REGISTERED NUMBER: SC201931)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Jolomo Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. The turnover figure is also net of commissions.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

JOLOMO LIMITED (REGISTERED NUMBER: SC201931)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023
and 31 December 2023 9,377
AMORTISATION
At 1 January 2023
and 31 December 2023 9,377
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2023
and 31 December 2023 300,810 249,661 150,305
DEPRECIATION
At 1 January 2023 - 105,695 105,590
Charge for year - 4,993 4,472
At 31 December 2023 - 110,688 110,062
NET BOOK VALUE
At 31 December 2023 300,810 138,973 40,243
At 31 December 2022 300,810 143,966 44,715

JOLOMO LIMITED (REGISTERED NUMBER: SC201931)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 43,929 39,770 21,426 805,901
DEPRECIATION
At 1 January 2023 41,643 31,307 18,561 302,796
Charge for year 343 2,116 716 12,640
At 31 December 2023 41,986 33,423 19,277 315,436
NET BOOK VALUE
At 31 December 2023 1,943 6,347 2,149 490,465
At 31 December 2022 2,286 8,463 2,865 503,105

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 40,761
PROVISIONS
At 1 January 2023
and 31 December 2023 39,000
NET BOOK VALUE
At 31 December 2023 1,761
At 31 December 2022 1,761

Listed investments are shown at market value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 160,434 215,669

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,524 3,525
Taxation and social security 38,166 71,282
Other creditors 188,994 163,978
230,684 238,785

JOLOMO LIMITED (REGISTERED NUMBER: SC201931)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 3,524