Joiin Limited 10881174 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the development of cloud based accounting software and tools. Digita Accounts Production Advanced 6.30.9574.0 true 10881174 2023-02-01 2024-01-31 10881174 2024-01-31 10881174 bus:CompanySecretaryDirector1 1 2024-01-31 10881174 bus:Director2 1 2024-01-31 10881174 bus:Director3 1 2024-01-31 10881174 bus:Director4 1 2024-01-31 10881174 core:RetainedEarningsAccumulatedLosses 2024-01-31 10881174 core:ShareCapital 2024-01-31 10881174 core:SharePremium 2024-01-31 10881174 core:CurrentFinancialInstruments 2024-01-31 10881174 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10881174 core:Non-currentFinancialInstruments 2024-01-31 10881174 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 10881174 core:OtherResidualIntangibleAssets 2024-01-31 10881174 core:FurnitureFittingsToolsEquipment 2024-01-31 10881174 core:OtherPropertyPlantEquipment 2024-01-31 10881174 bus:SmallEntities 2023-02-01 2024-01-31 10881174 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10881174 bus:FullAccounts 2023-02-01 2024-01-31 10881174 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10881174 bus:RegisteredOffice 2023-02-01 2024-01-31 10881174 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 10881174 bus:CompanySecretaryDirector1 1 2023-02-01 2024-01-31 10881174 bus:Director2 2023-02-01 2024-01-31 10881174 bus:Director2 1 2023-02-01 2024-01-31 10881174 bus:Director3 2023-02-01 2024-01-31 10881174 bus:Director3 1 2023-02-01 2024-01-31 10881174 bus:Director4 2023-02-01 2024-01-31 10881174 bus:Director4 1 2023-02-01 2024-01-31 10881174 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10881174 1 2023-02-01 2024-01-31 10881174 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 10881174 core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 10881174 core:OtherResidualIntangibleAssets 1 2023-02-01 2024-01-31 10881174 core:ComputerEquipment 2023-02-01 2024-01-31 10881174 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 10881174 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 10881174 countries:EnglandWales 2023-02-01 2024-01-31 10881174 2023-01-31 10881174 core:OtherResidualIntangibleAssets 2023-01-31 10881174 core:FurnitureFittingsToolsEquipment 2023-01-31 10881174 core:OtherPropertyPlantEquipment 2023-01-31 10881174 2022-02-01 2023-01-31 10881174 2023-01-31 10881174 bus:CompanySecretaryDirector1 1 2023-01-31 10881174 bus:Director3 1 2023-01-31 10881174 core:RetainedEarningsAccumulatedLosses 2023-01-31 10881174 core:ShareCapital 2023-01-31 10881174 core:SharePremium 2023-01-31 10881174 core:CurrentFinancialInstruments 2023-01-31 10881174 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10881174 core:Non-currentFinancialInstruments 2023-01-31 10881174 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 10881174 core:OtherResidualIntangibleAssets 2023-01-31 10881174 core:FurnitureFittingsToolsEquipment 2023-01-31 10881174 core:OtherPropertyPlantEquipment 2023-01-31 10881174 bus:CompanySecretaryDirector1 1 2022-02-01 2023-01-31 10881174 bus:Director3 1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 10881174

Joiin Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Joiin Limited
(Registration number: 10881174)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Joiin Limited
(Registration number: 10881174)

Company Information

Directors

Mr P Shipway

Mr L N Wynn

Mr J R Lucas

Mr T Szpinda

Company secretary

Mr P Shipway

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Joiin Limited
(Registration number: 10881174)

Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

382,502

180,545

Tangible assets

5

9,927

8,458

 

392,429

189,003

Current assets

 

Debtors

6

226,323

57,454

Cash at bank and in hand

 

33,737

63,444

 

260,060

120,898

Creditors: Amounts falling due within one year

7

(346,692)

(129,716)

Net current liabilities

 

(86,632)

(8,818)

Total assets less current liabilities

 

305,797

180,185

Creditors: Amounts falling due after more than one year

7

(46,553)

-

Provisions for liabilities

-

(1,450)

Net assets

 

259,244

178,735

Capital and reserves

 

Called up share capital

4

4

Share premium reserve

170,329

170,329

Profit and loss account

88,911

8,402

Total equity

 

259,244

178,735

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Joiin Limited
(Registration number: 10881174)

Balance Sheet as at 31 January 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 18 October 2024 and signed on its behalf by:
 

.........................................
Mr P Shipway
Company secretary and director

 

Joiin Limited
(Registration number: 10881174)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Joiin Limited
(Registration number: 10881174)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

20% straight line

Development costs

Development expenditure is written off in the financial year in which it is incurred unless it relates to the development of a new or substantially improved product.

Such expenditure is capitalised as an intangible asset in the Balance Sheet at cost and is amortised through the Profit and Loss account only when the following criteria have been met.

• The technical feasibility and economic viability of the product has been proven.
• The decision to complete the development has been taken.
• The project costs can be reliably measured.

Subsequent development expenditure is capitalised only where it either enhances the economic benefits of the development asset or replaces part of the existing asset. Any remaining costs associated with the asset replaced are expensed.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible asset

10% Straightline

 

Joiin Limited
(Registration number: 10881174)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Joiin Limited
(Registration number: 10881174)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 3).

 

Joiin Limited
(Registration number: 10881174)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

180,545

180,545

Additions internally developed

238,066

238,066

At 31 January 2024

418,611

418,611

Amortisation

Amortisation charge

36,109

36,109

At 31 January 2024

36,109

36,109

Carrying amount

At 31 January 2024

382,502

382,502

At 31 January 2023

180,545

180,545

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

10,905

749

11,654

Additions

4,246

-

4,246

At 31 January 2024

15,151

749

15,900

Depreciation

At 1 February 2023

3,071

125

3,196

Charge for the year

2,627

150

2,777

At 31 January 2024

5,698

275

5,973

Carrying amount

At 31 January 2024

9,453

474

9,927

At 31 January 2023

7,834

624

8,458

 

Joiin Limited
(Registration number: 10881174)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

432

1,250

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

782

-

Other debtors

 

224,003

56,122

Prepayments and accrued income

 

1,106

82

Total current trade and other debtors

 

226,323

57,454

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

117,976

-

Trade creditors

 

23,965

12,630

Taxation and social security

 

6,317

8,534

Other creditors

 

387

1,393

Accrued expenses

 

3,980

1,600

Deferred income

 

194,067

105,559

 

346,692

129,716

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

46,553

-

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

117,976

-

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

46,553

-

 

Joiin Limited
(Registration number: 10881174)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Related party transactions

2024

Advances to directors
£

Repayments by director
£

At 31 January 2024
£

Interest Free Loan

36,843

(1,514)

36,531

       
     

Interest Free Loan

39,152

(312)

39,714

       
     

Interest Free Loan

46,159

(312)

45,847

       
     

Interest Free Loan

36,837

(312)

36,525

       
     

 

2023

Advances to directors
£

Repayments by director
£

At 31 January 2023
£

Interest Free Loan

1,202

-

1,202

       
     

Interest Free Loan

4,390

(3,516)

874