Registered number
07169194
Janus Technology Limited
Filleted Accounts
29 February 2024
Janus Technology Limited
Report to the directors on the preparation of the unaudited statutory accounts of Janus Technology Limited for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Janus Technology Limited for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Ian Critten Accountancy Ltd
Chartered Certified Accountants
12 Varrier Jones Drive
Papworth Everard
Cambridge
Cambridgeshire
CB23 3GJ
19 November 2024
Janus Technology Limited
Registered number: 07169194
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,615 20,568
Current assets
Debtors 4 178,556 232,556
Cash at bank and in hand 20,138 57,599
198,694 290,155
Creditors: amounts falling due within one year 5 (105,138) (168,543)
Net current assets 93,556 121,612
Total assets less current liabilities 123,171 142,180
Creditors: amounts falling due after more than one year 6 (48,000) (72,000)
Provisions for liabilities (7,403) (3,907)
Net assets 67,768 66,273
Capital and reserves
Called up share capital 50,100 50,100
Profit and loss account 17,668 16,173
Shareholders' funds 67,768 66,273
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.
R Caton
Director
Approved by the board on 19 November 2024
Janus Technology Limited
Notes to the Accounts
for the year ended 29 February 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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 86,667
Additions 20,444
Disposals (11,751)
At 29 February 2024 95,360
Depreciation
At 1 March 2023 66,099
Charge for the year 9,907
On disposals (10,261)
At 29 February 2024 65,745
Net book value
At 29 February 2024 29,615
At 28 February 2023 20,568
4 Debtors 2024 2023
£ £
Trade debtors 152,411 212,535
Other debtors 26,145 20,021
178,556 232,556
5 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares (69) -
Bank loans and overdrafts 24,000 24,000
Trade creditors 51,934 16,769
Taxation and social security costs 11,847 11,734
Other creditors 17,426 116,040
105,138 168,543
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 48,000 72,000
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 72,000 96,000
HSBC UK Bank PLC hold a fixed and floating charge over all company assets.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 53,297 62,536
9 Controlling party
The company is controlled by Richard Caton and Matthew Faupel. Janus Home Systems Ltd and Micropraxis Ltd each own 50% of the issued share capital.
Richard Caton is the controlling director of Janus Home Systems Ltd and Matthew Faupel is the controlling director of Micropraxis Ltd.
10 Other information
Janus Technology Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 The Fairway
Bar Hill
Cambridge
Cambridgeshire
CB23 8SR
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