Registered number
04374623
Julie Hunt Advertising Limited
Un-audited Filleted Accounts
30 April 2024
Julie Hunt Advertising Limited
Registered number: 04374623
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 116,746 99,380
Current assets
Debtors 4 401,931 171,495
Cash at bank and in hand 417,595 489,616
819,526 661,111
Creditors: amounts falling due within one year 5 (354,006) (203,875)
Net current assets 465,520 457,236
Total assets less current liabilities 582,266 556,616
Creditors: amounts falling due after more than one year 6 (8,369) -
Provisions for liabilities (18,303) (18,882)
Net assets 555,594 537,734
Capital and reserves
Called up share capital 100 100
Profit and loss account 555,494 537,634
Shareholders' funds 555,594 537,734
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Julie Hunt
Director
Approved by the board on 21 October 2024
Julie Hunt Advertising Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Property Improvements 15% reducing balance
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The director's have given consideration to the continuing operations of the company and this has given rise to no material uncertainties regarding going concern. As a result, the accounts have been prepared under the going concern basis of accounting.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 3
3 Tangible fixed assets
Property improvements Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 32,430 110,977 82,393 225,800
Additions - 12,182 133,025 145,207
Disposals - - (121,173) (121,173)
At 30 April 2024 32,430 123,159 94,245 249,834
Depreciation
At 1 May 2023 19,376 86,646 20,398 126,420
Charge for the year 1,958 5,368 18,626 25,952
On disposals - - (19,284) (19,284)
At 30 April 2024 21,334 92,014 19,740 133,088
Net book value
At 30 April 2024 11,096 31,145 74,505 116,746
At 30 April 2023 13,054 24,331 61,995 99,380
4 Debtors 2024 2023
£ £
Trade debtors 345,369 111,243
Other debtors 56,562 60,252
401,931 171,495
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 7,854 -
Trade creditors 265,820 114,956
Taxation and social security costs 77,832 86,004
Other creditors 2,500 2,915
354,006 203,875
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,369 -
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director's loan account 11,563 9,890 (13,837) 7,616
11,563 9,890 (13,837) 7,616
The balance of Julie Hunt's account of £7,616 (2023: £11,563), is included in other debtors. The maximum overdrawn balance during the year was £14,982 with interest being charged at the official rate. The director's loan was repaid in full in May 2024.
8 Controlling party
The company is controlled by Julie Hunt.
9 Other information
Julie Hunt Advertising Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barn
6A Bath Road
Bitton
Bristol
BS30 6HZ
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