Company Registration No. 06467209 (England and Wales)
Piojito Limited
Unaudited financial statements
For the year ended 31 January 2024
Pages for filing with registrar
PIOJITO LIMITED
Piojito Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PIOJITO LIMITED
Piojito Limited
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,505
3,378
Current assets
Stocks
58,108
48,669
Debtors
4
31,113
48,065
Cash at bank and in hand
119,354
120,429
208,575
217,163
Creditors: amounts falling due within one year
5
(159,363)
(126,092)
Net current assets
49,212
91,071
Net assets
51,717
94,449
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
51,716
94,448
Total equity
51,717
94,449
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
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 17 October 2024
D Lazarus
Director
Company registration number 06467209 (England and Wales)
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents income receivable from physical and digital record sales and royalties and licence fees receivable from the exploitation of musical compositions.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
33.33% reducing balance
Fixtures, fittings & equipment
25.00% straight line
1.4
Stocks
Stocks of CDs and Vinyl are stated at the lower of cost and estimated selling price.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 and 31 January 2024
10,491
Depreciation and impairment
At 1 February 2023
7,113
Depreciation charged in the year
873
At 31 January 2024
7,986
Carrying amount
At 31 January 2024
2,505
At 31 January 2023
3,378
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39
33
Corporation tax recoverable
3,265
Other debtors
31,074
44,767
31,113
48,065
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,266
7,282
Taxation and social security
4,500
3,909
Other creditors
149,597
114,901
159,363
126,092
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Share of £1 each
1
1
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
7
Company information
Piojito Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 2, 21 Goulton Road, London, E5 8HA.
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 £.