J.O.B LIGHT LIMITED 08913724 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of design and sale of bespoke interior furnishing. Digita Accounts Production Advanced 6.30.9574.0 true false true false 08913724 2023-03-01 2024-02-29 08913724 2024-02-29 08913724 bus:OrdinaryShareClass1 bus:OtherShareType 2024-02-29 08913724 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-02-29 08913724 core:CurrentFinancialInstruments 2024-02-29 08913724 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 08913724 core:Non-currentFinancialInstruments 2024-02-29 08913724 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 08913724 core:FurnitureFittingsToolsEquipment 2024-02-29 08913724 core:MotorVehicles 2024-02-29 08913724 core:OtherPropertyPlantEquipment 2024-02-29 08913724 core:AllSubsidiaries 2024-02-29 08913724 core:OtherRelatedParties 2024-02-29 08913724 1 2024-02-29 08913724 bus:SmallEntities 2023-03-01 2024-02-29 08913724 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08913724 bus:FilletedAccounts 2023-03-01 2024-02-29 08913724 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08913724 bus:RegisteredOffice 2023-03-01 2024-02-29 08913724 bus:Director2 2023-03-01 2024-02-29 08913724 bus:OrdinaryShareClass1 bus:OtherShareType 2023-03-01 2024-02-29 08913724 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08913724 core:ComputerEquipment 2023-03-01 2024-02-29 08913724 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 08913724 core:MotorVehicles 2023-03-01 2024-02-29 08913724 core:OfficeEquipment 2023-03-01 2024-02-29 08913724 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 08913724 core:AllSubsidiaries 2023-03-01 2024-02-29 08913724 core:OtherRelatedParties 2023-03-01 2024-02-29 08913724 core:Subsidiary1 2023-03-01 2024-02-29 08913724 core:Subsidiary1 1 2023-03-01 2024-02-29 08913724 core:Subsidiary1 countries:Italy 2023-03-01 2024-02-29 08913724 countries:England 2023-03-01 2024-02-29 08913724 1 2023-03-01 2024-02-29 08913724 2023-02-28 08913724 core:CostValuation 2023-02-28 08913724 core:FurnitureFittingsToolsEquipment 2023-02-28 08913724 core:MotorVehicles 2023-02-28 08913724 core:OtherPropertyPlantEquipment 2023-02-28 08913724 core:AllSubsidiaries 2023-02-28 08913724 core:OtherRelatedParties 2023-02-28 08913724 1 2023-02-28 08913724 2022-03-01 2023-02-28 08913724 2023-02-28 08913724 bus:OrdinaryShareClass1 bus:OtherShareType 2023-02-28 08913724 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-02-28 08913724 core:CurrentFinancialInstruments 2023-02-28 08913724 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08913724 core:Non-currentFinancialInstruments 2023-02-28 08913724 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 08913724 core:FurnitureFittingsToolsEquipment 2023-02-28 08913724 core:MotorVehicles 2023-02-28 08913724 core:OtherPropertyPlantEquipment 2023-02-28 08913724 core:AllSubsidiaries 2023-02-28 08913724 core:OtherRelatedParties 2023-02-28 08913724 1 2023-02-28 08913724 core:AllSubsidiaries 2022-03-01 2023-02-28 08913724 core:OtherRelatedParties 2022-03-01 2023-02-28 08913724 core:Subsidiary1 1 2022-03-01 2023-02-28 08913724 1 2022-03-01 2023-02-28 08913724 2022-02-28 08913724 core:AllSubsidiaries 2022-02-28 08913724 core:OtherRelatedParties 2022-02-28 08913724 1 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08913724

J.O.B LIGHT LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

J.O.B LIGHT LIMITED

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

J.O.B LIGHT LIMITED

Company Information

Director

Miss Benedetta Dall'Olio

Registered office

The Interior’S House 1st Floor Office,
2 New Kings Rd.
London
SW6 4SA

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

J.O.B LIGHT LIMITED

(Registration number: 08913724)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

173,552

75,368

Investments

5

8,949

8,949

 

182,501

84,317

Current assets

 

Debtors

6

1,243,256

1,068,051

Cash at bank and in hand

 

124,357

373,111

 

1,367,613

1,441,162

Creditors: Amounts falling due within one year

7

(1,464,022)

(1,435,404)

Net current (liabilities)/assets

 

(96,409)

5,758

Total assets less current liabilities

 

86,092

90,075

Creditors: Amounts falling due after more than one year

7

(325,305)

(223,216)

Net liabilities

 

(239,213)

(133,141)

Capital and reserves

 

Called up share capital

8

40,000

40,000

Retained earnings

(279,213)

(173,141)

Shareholders' deficit

 

(239,213)

(133,141)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 February 2025
 

 

J.O.B LIGHT LIMITED

(Registration number: 08913724)
Balance Sheet as at 29 February 2024

.........................................
Miss Benedetta Dall'Olio
Director

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
The Interior’S House 1st Floor Office,
2 New Kings Rd.
London
SW6 4SA
England

These financial statements were authorised for issue by the director on 11 February 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tax

The tax expense for the period comprises current 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.

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

Office equipment

25% straight line

Computer equipment

33% straight line

Motor vehicle

20% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2023 - 8).

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

24,571

87,945

545

113,061

Additions

6,745

174,899

-

181,644

Disposals

-

(87,945)

-

(87,945)

At 29 February 2024

31,316

174,899

545

206,760

Depreciation

At 1 March 2023

16,800

20,749

144

37,693

Charge for the year

5,090

21,914

136

27,140

Eliminated on disposal

-

(31,625)

-

(31,625)

At 29 February 2024

21,890

11,038

280

33,208

Carrying amount

At 29 February 2024

9,426

163,861

265

173,552

At 28 February 2023

7,771

67,196

401

75,368

5

Investments

2024
£

2023
£

Investments in subsidiaries

8,949

8,949

Subsidiaries

£

Cost or valuation

At 1 March 2023

8,949

Provision

Carrying amount

At 29 February 2024

8,949

At 28 February 2023

8,949

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

TIH ITALIA S.R.L.

Quinto Vicentino (VI)
Don Ottorino Zanon 6 Cap
36050

Italy

Ordinary shares

100%

100%

Subsidiary undertakings

TIH ITALIA S.R.L.

The principal activity of TIH ITALIA S.R.L. is that of design and sale of bespoke furniture.

6

Debtors

Current

2024
£

2023
£

Trade debtors

38,610

298,953

Other debtors

1,204,646

769,098

 

1,243,256

1,068,051

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

65,203

174,560

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

11

850,056

144,354

Taxation and social security

 

403,349

359,038

Accruals and deferred income

 

2,500

609,741

Other creditors

 

142,914

147,711

 

1,464,022

1,435,404

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

325,305

223,216

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

40,000

40,000

40,000

40,000

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

129,167

179,167

Hire purchase contracts

196,138

44,049

325,305

223,216

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

10

Dividends

2024

2023

£

£

Final dividend of £4,000.00 (2023 - £30,002.00)

4,000

30,002

Interim dividend of £Nil (2023 - £Nil)

-

-

4,000

30,002

 

 
 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

11

Related party transactions

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Loan to directors

748,982

374,932

-

1,123,914

 

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

Loan to directors

252,373

496,609

748,982

 

J.O.B LIGHT LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

 

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

45,000

83,333

Loans from related parties

2024

Subsidiary
£

Other related parties
£

Total
£

At start of period

135,405

8,949

144,354

Advanced

804,985

-

804,985

Repaid

(99,283)

-

(99,283)

At end of period

841,107

8,949

850,056

2023

Subsidiary
£

Other related parties
£

Total
£

At start of period

613,546

-

613,546

Advanced

-

8,949

8,949

Repaid

(478,141)

-

(478,141)

At end of period

135,405

8,949

144,354

Terms of loans from related parties

Non interest bearing loans.