8 false false false false false false false false false false true false false true false true true No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 02200767 2023-01-01 2023-12-31 02200767 2023-12-31 02200767 2022-12-31 02200767 2022-01-01 2022-12-31 02200767 2022-12-31 02200767 2021-12-31 02200767 core:PlantMachinery 2023-01-01 2023-12-31 02200767 core:FurnitureFittings 2023-01-01 2023-12-31 02200767 core:MotorVehicles 2023-01-01 2023-12-31 02200767 bus:Director1 2023-01-01 2023-12-31 02200767 core:PlantMachinery 2022-12-31 02200767 core:FurnitureFittings 2022-12-31 02200767 core:MotorVehicles 2022-12-31 02200767 core:PlantMachinery 2023-12-31 02200767 core:FurnitureFittings 2023-12-31 02200767 core:MotorVehicles 2023-12-31 02200767 core:WithinOneYear 2023-12-31 02200767 core:WithinOneYear 2022-12-31 02200767 core:ShareCapital 2023-12-31 02200767 core:ShareCapital 2022-12-31 02200767 core:RetainedEarningsAccumulatedLosses 2023-12-31 02200767 core:RetainedEarningsAccumulatedLosses 2022-12-31 02200767 core:PlantMachinery 2022-12-31 02200767 core:FurnitureFittings 2022-12-31 02200767 core:MotorVehicles 2022-12-31 02200767 bus:Director1 2022-12-31 02200767 bus:Director1 2023-12-31 02200767 bus:Director1 2021-12-31 02200767 bus:Director1 2022-12-31 02200767 bus:Director1 2022-01-01 2022-12-31 02200767 bus:SmallEntities 2023-01-01 2023-12-31 02200767 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02200767 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02200767 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02200767 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 02200767
Japan Journals Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Japan Journals Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
11,943
14,500
Current assets
Stocks
6,782
7,982
Debtors
6
55,216
72,379
Cash at bank and in hand
50,513
60,293
---------
---------
112,511
140,654
Creditors: amounts falling due within one year
7
184,437
176,882
---------
---------
Net current liabilities
71,926
36,228
--------
--------
Total assets less current liabilities
( 59,983)
( 21,728)
--------
--------
Net liabilities
( 59,983)
( 21,728)
--------
--------
Capital and reserves
Called up share capital
30,000
30,000
Profit and loss account
( 89,983)
( 51,728)
--------
--------
Shareholders deficit
( 59,983)
( 21,728)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Japan Journals Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
K Tejima
Director
Company registration number: 02200767
Japan Journals Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) No cash flow statement has been presented for the company. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable in the year in respect of magazine and other publication adverts, net of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 10 ).
5. Tangible assets
Website
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
60,364
31,515
41,628
133,507
--------
--------
--------
---------
Depreciation
At 1 January 2023
58,403
19,267
41,337
119,007
Charge for the year
647
1,837
73
2,557
--------
--------
--------
---------
At 31 December 2023
59,050
21,104
41,410
121,564
--------
--------
--------
---------
Carrying amount
At 31 December 2023
1,314
10,411
218
11,943
--------
--------
--------
---------
At 31 December 2022
1,961
12,248
291
14,500
--------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
54,232
71,413
Other debtors
984
966
--------
--------
55,216
72,379
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
36,192
29,738
Social security and other taxes
38,099
56,955
Other creditors
110,146
90,189
---------
---------
184,437
176,882
---------
---------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
K Tejima
( 45,000)
( 49,000)
( 94,000)
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
K Tejima
( 70,000)
25,000
( 45,000)
--------
--------
--------