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REGISTERED NUMBER: 07000677 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2024

FOR

JOYCE DESIGN UK LIMITED

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


JOYCE DESIGN UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: R S Joyce
Mrs K Joyce





REGISTERED OFFICE: Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF





REGISTERED NUMBER: 07000677 (England and Wales)





ACCOUNTANTS: Bentens
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JOYCE DESIGN UK LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Joyce Design UK Limited for the year ended 31 August 2024 which comprise the Income Statement, Statement of Financial Position 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://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Joyce Design UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Joyce Design UK Limited and state those matters that we have agreed to state to the Board of Directors of Joyce Design UK Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Joyce Design UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Joyce Design UK Limited. You consider that Joyce Design UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Joyce Design UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bentens
Chartered Certified Accountants
Abbey House
51 High Street
Saffron Walden
Essex
CB10 1AF


15 January 2025

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 494,261 561,608

CURRENT ASSETS
Stocks 5 189,012 128,000
Debtors 6 195,048 231,826
Cash at bank and in hand 451,368 449,205
835,428 809,031
CREDITORS
Amounts falling due within one year 7 252,219 176,879
NET CURRENT ASSETS 583,209 632,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,077,470

1,193,760

CREDITORS
Amounts falling due after more than one
year

8

(76,565

)

(94,338

)

PROVISIONS FOR LIABILITIES 10 (71,817 ) (80,013 )
NET ASSETS 929,088 1,019,409

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 928,988 1,019,309
SHAREHOLDERS' FUNDS 929,088 1,019,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:




R S Joyce - Director



Mrs K Joyce - Director


JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Joyce Design UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Motor
property Equipment vehicles Totals
£    £    £    £   
COST
At 1 September 2023 344,281 437,828 164,826 946,935
Additions - 17,410 - 17,410
Disposals - (63,202 ) (13,380 ) (76,582 )
At 31 August 2024 344,281 392,036 151,446 887,763
DEPRECIATION
At 1 September 2023 - 322,954 62,373 385,327
Charge for year - 32,637 25,472 58,109
Eliminated on disposal - (37,119 ) (12,815 ) (49,934 )
At 31 August 2024 - 318,472 75,030 393,502
NET BOOK VALUE
At 31 August 2024 344,281 73,564 76,416 494,261
At 31 August 2023 344,281 114,874 102,453 561,608

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 150,415
DEPRECIATION
At 1 September 2023 48,962
Charge for year 25,363
At 31 August 2024 74,325
NET BOOK VALUE
At 31 August 2024 76,090
At 31 August 2023 101,453

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. STOCKS
2024 2023
£    £   
Stocks 37,012 46,000
Work-in-progress 152,000 82,000
189,012 128,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 189,548 224,206
Other debtors 5,500 5,500
Prepayments and accrued income - 2,120
195,048 231,826

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 17,773 15,198
Trade creditors 118,570 82,340
Corporation tax 30,280 8,670
Social security and other taxes 9,071 9,692
VAT 33,309 48,593
Other creditors 38,834 8,005
Directors' current accounts 582 666
Accruals and deferred income 3,800 3,715
252,219 176,879

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 76,565 94,338

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 22,262 22,262
Between one and five years 78,576 100,838
100,838 123,100

Finance charges repayable:
Within one year 4,489 7,064
Between one and five years 2,011 6,500
6,500 13,564

Net obligations repayable:
Within one year 17,773 15,198
Between one and five years 76,565 94,338
94,338 109,536

Non-cancellable operating leases
2024 2023
£    £   
Within one year 100,589 103,408
Between one and five years 355,334 369,223
455,923 472,631

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 71,817 80,013

Deferred
tax
£   
Balance at 1 September 2023 80,013
Credit to Income Statement during year (8,196 )
Balance at 31 August 2024 71,817

JOYCE DESIGN UK LIMITED (REGISTERED NUMBER: 07000677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

11. RELATED PARTY DISCLOSURES

During the year dividends totalling £135,771 were paid to R S Joyce and Mrs K Joyce, the directors of the company (2023: £115,671).

12. ULTIMATE CONTROLLING PARTY

The controlling party is R S Joyce by virtue of his ownership of 55% of the issued share capital of the company.