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Company No: 07254147 (England and Wales)

JOHNNY ROXBURGH DESIGNS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

JOHNNY ROXBURGH DESIGNS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

JOHNNY ROXBURGH DESIGNS LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
JOHNNY ROXBURGH DESIGNS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTOR John Renwick Robertson Roxburgh
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 07254147 (England and Wales)
JOHNNY ROXBURGH DESIGNS LIMITED

BALANCE SHEET

As at 31 May 2024
JOHNNY ROXBURGH DESIGNS LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 646 2,508
646 2,508
Current assets
Debtors 4 128,526 597,386
Cash at bank and in hand 853,453 1,523,304
981,979 2,120,690
Creditors: amounts falling due within one year 5 ( 170,192) ( 1,282,646)
Net current assets 811,787 838,044
Total assets less current liabilities 812,433 840,552
Creditors: amounts falling due after more than one year 6 ( 75,000) ( 125,000)
Net assets 737,433 715,552
Capital and reserves
Called-up share capital 1 1
Profit and loss account 737,432 715,551
Total shareholders' funds 737,433 715,552

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Johnny Roxburgh Designs Limited (registered number: 07254147) were approved and authorised for issue by the Director on 27 February 2025. They were signed on its behalf by:

John Renwick Robertson Roxburgh
Director
JOHNNY ROXBURGH DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
JOHNNY ROXBURGH DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Johnny Roxburgh Designs Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS.

The Company's principal place of business is 29 Battersea Church Road, London, SW11 3LY.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' issued by Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Foreign currency

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Turnover

Turnover represents amounts receivable for event organisation services, net of VAT.

Turnover is recognised in the accounting period in which the services are rendered when the outcome of the contract can be measured reliably.

Taxation

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

The current 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 fixed assets

Tangible assets are stated 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 over their estimated useful lives, as follows:

Land and buildings 5 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

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 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

The company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is a contract that evidences a residual interest in the asset of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of a company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the profit and loss account.

Government grants

Grants received are recognised and accounted for when the company has entitlement to the funds, the amount can be quantified and receipt is probable, in line with the policy for incoming resources. Any conditions attached to the grant must be satisfied or reasonably expected to be satisfied at the time of recognition of the grant.

Dividends

Interim dividend distributions to the company’s shareholder are recognised as a liability when paid in the financial statements in the reporting period in which the dividends are declared. Final dividend distributions to the company’s shareholder are recognised as a liability when approved by the members.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 2 3

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 June 2023 43,388 598 28,490 72,476
At 31 May 2024 43,388 598 28,490 72,476
Accumulated depreciation
At 01 June 2023 43,388 598 25,982 69,968
Charge for the financial year 0 0 1,862 1,862
At 31 May 2024 43,388 598 27,844 71,830
Net book value
At 31 May 2024 0 0 646 646
At 31 May 2023 0 0 2,508 2,508

4. Debtors

2024 2023
£ £
Trade debtors 1,656 263,475
Amounts owed by director (note 7) 38,921 0
Prepayments and accrued income 24,136 320,214
VAT recoverable 63,692 4,248
Other debtors 121 9,449
128,526 597,386

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 50,000 50,000
Trade creditors 12,791 220,195
Taxation and social security 50,729 161,329
Other creditors 56,672 851,122
170,192 1,282,646

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 75,000 125,000

Coronavirus Business Loan is denominated in Sterling with a nominal interest rate of Bank of England Base Rate + 2.58%, and the final instalment is due on 24 November 2026. The total amount owing in respect of the loan at the year end is £125,000 (2023 - £175,000) which is shown in Note 5: £50,000 (2023 - £50,000) due within one year and Note 6: £75,000 (2023 - £125,000) due after more than one year. The Lloyds Bank Plc loan is denominated in Sterling and repayments are due in 60 equal monthly instalments of £4,166 beginning December 2021 and ending November 2026. The loan is secured over the assets of Johnny Roxburgh Designs Limited.

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Director's loan account (owed from the director) 38,921 0
Director's loan account (owed to the director) 0 27,022

During the year, the Director paid £117,330 (2023 - £83,376) of expenses on behalf of the Company; £183,272 (2023 - £94,013) was repaid to the Director during the year. The amounts owed from the Director at year end was £38,920 (2023 - amounts owed to the Director - £27,022).