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REGISTERED NUMBER: 12663269 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Joeal Ltd

Joeal Ltd (Registered number: 12663269)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Joeal Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A Rao
J T McGill





REGISTERED OFFICE: 5 Christchurch Road
Clifton
Bristol
BS8 4EF





REGISTERED NUMBER: 12663269 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Joeal Ltd (Registered number: 12663269)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,683 9,989
Tangible assets 5 552,986 582,721
561,669 592,710

CURRENT ASSETS
Stocks 10,585 9,507
Debtors 6 73,791 70,550
Cash at bank 6 -
84,382 80,057
CREDITORS
Amounts falling due within one year 7 510,880 466,522
NET CURRENT LIABILITIES (426,498 ) (386,465 )
TOTAL ASSETS LESS CURRENT LIABILITIES 135,171 206,245

CREDITORS
Amounts falling due after more than one
year

8

294,571

363,586
NET LIABILITIES (159,400 ) (157,341 )

CAPITAL AND RESERVES
Called up share capital 15 15
Retained earnings (159,415 ) (157,356 )
(159,400 ) (157,341 )

Joeal Ltd (Registered number: 12663269)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 19 March 2025 and were signed on its behalf by:





A Rao - Director


Joeal Ltd (Registered number: 12663269)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Joeal Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

For Denplan patients the company recognises revenue:
- evenly across the year as it is received from Denplan;
- when the amount to be received can be reliably measured;
- when it is probable that it will be paid to the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of ten years.

Joeal Ltd (Registered number: 12663269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property- not provided
Furniture, fittings and equipment- 20% on cost

Stocks
Dental stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Joeal Ltd (Registered number: 12663269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

Going concern
At the year end the company had net liabilities of £159,400 (2023 - £157,341). At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors are committed to ensure that the company is able to meet its liabilities on a day to day basis and have pledged to provide financial support to enable the company to meet its liabilities. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

Joeal Ltd (Registered number: 12663269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 10,000 3,060 13,060
AMORTISATION
At 1 July 2023 2,417 654 3,071
Amortisation for year 1,000 306 1,306
At 30 June 2024 3,417 960 4,377
NET BOOK VALUE
At 30 June 2024 6,583 2,100 8,683
At 30 June 2023 7,583 2,406 9,989

5. TANGIBLE FIXED ASSETS
Furniture,
fittings
Freehold and
property equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 490,702 148,675 639,377
DEPRECIATION
At 1 July 2023 - 56,656 56,656
Charge for year - 29,735 29,735
At 30 June 2024 - 86,391 86,391
NET BOOK VALUE
At 30 June 2024 490,702 62,284 552,986
At 30 June 2023 490,702 92,019 582,721

Joeal Ltd (Registered number: 12663269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 73,791 70,550

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 17,753 19,514
Hire purchase contracts 59,779 55,254
Trade creditors 30,846 31,981
Taxation and social security 1,704 1,485
Other creditors 400,798 358,288
510,880 466,522

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 229,281 238,517
Hire purchase contracts 65,290 125,069
294,571 363,586

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 238,758 248,507
Hire purchase contracts 125,069 180,323
363,827 428,830

The bank loans are secured by fixed and floating charges over the property and assets of the company.

Assets held under hire purchase contracts are secured against the assets to which they relate.

Joeal Ltd (Registered number: 12663269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £462 (2023 - £342) were payable to the fund at the reporting date.

11. OTHER FINANCIAL COMMITMENTS

At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable leases totalling £5,094 (2023 - £9,738).

12. RELATED PARTY DISCLOSURES

Loans to related parties



Other related
parties


Total
2024 £ £
At start of period 2,450 2,450
Advanced - -
Repaid - -
At end of period 2,450 2,450


Other related
parties


Total
2023 £ £
At start of period - -
Advanced 2,450 2,450
Repaid - -
At end of period 2,450 2,450

Loans to other related parties are interest free and repayable on demand.

Joeal Ltd (Registered number: 12663269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. RELATED PARTY DISCLOSURES - continued

Loans from related parties



Key
management

Other related
parties


Total
2024 £ £ £
At start of period 1,238 335,970 337,208
Advanced 624 93,761 94,385
Repaid - (50,402 ) (50,402 )
At end of period 1,862 379,329 381,191


Key
management

Other related
parties


Total
2023 £ £ £
At start of period 624 263,963 264,587
Advanced 624 77,204 77,828
Repaid (10 ) (5,197 ) (5,207 )
At end of period 1,238 335,970 337,208

Loans from key management are interest free and repayable on demand.

Loans from other related parties are interest free and repayable on demand.