Registered number
06440300
Jo-Bi Martial Arts Limited
Filleted Accounts
29 February 2024
Jo-Bi Martial Arts Limited Registered number
Balance Sheet 06440300
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 2 1,842 656
Current assets
Stocks 18,220 17,326
Debtors 3 5,517 5,944
Cash at bank and in hand 6,875 9,460
30,612 32,730
Creditors: amounts falling due within one year 4 (20,314) (22,510)
Net current assets 10,298 10,220
Total assets less current liabilities 12,140 10,876
Creditors: amounts falling due after more than one year 5 (11,906) (13,934)
Net assets/(liabilities) 234 (3,058)
Capital and reserves
Called up share capital 2 2
Profit and loss account 232 (3,060)
Shareholders' funds 234 (3,058)
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.
A Birch
Director
Approved by the board on 10 February 2025
Jo-Bi Martial Arts 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 represents the amount receivable by the company for goods and services supplied.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation has been provided at the following rate to write off the cost over the assets' expected useful life:
Equipment - 25% p.a. on the reducing balance basis
Stocks
Stock is valued at the lower of cost and net realisable value.
2 Tangible fixed assets Equipment
£
Cost
At 1 March 2023 4,279
Additions 1,799
At 29 February 2024 6,078
Depreciation
At 1 March 2023 3,623
Charge for the year 613
At 29 February 2024 4,236
Net book value
At 29 February 2024 1,842
At 28 February 2023 656
3 Debtors 2024 2023
£ £
Loan to director 3,525 -
Corporation tax - 1,703
Other debtors 1,992 4,241
5,517 5,944
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan 2,028 1,978
Corporation tax 2,178 -
Other creditors 16,108 20,532
20,314 22,510
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 11,906 13,934
6 Bank loan 2024 2023
£ £
The bank loan includes:
Instalments falling due after more than five years 3,270 5,511
The loan carries interest at the rate of 2.5% p.a.
7 Loan to director
B/fwd Advanced Repaid C/fwd
£ £ £ £
A Birch
Advances made - 3,525 - 3,525
The loan to the director was advanced on an interest-free basis. The balance outstanding at 29 February 2024 has been cleared subsequent to the balance sheet date.
8 Employees 2024 2023
Number Number
Average number of employees and company officers 2 2
9 Financial commitments
At 29 February 2024 the company was committed to future payments of rent and service charges of £75,622 on its business premises, covering the period up to January 2027. (At 28 February 2023 the commitment amounted to £17,993, covering the period up to January 2024).
10 Controlling parties
At 29 February 2024 the company was controlled by Mrs A Birch and Mr D Birch, who between them owned the company's entire issued share capital.
11 Other information
Jo-Bi Martial Arts Limited is a private company limited by shares and incorporated in England. Its registered office is 1 Britten Close, Langdon Hills, Basildon, Essex SS16 6TB.
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