Company Registration No. 14154571 (England and Wales)
JOE & SUM CREATION LIMITED
Unaudited accounts
for the year ended 30 June 2024
JOE & SUM CREATION LIMITED
Unaudited accounts
Contents
JOE & SUM CREATION LIMITED
Company Information
for the year ended 30 June 2024
Directors
Kit Lung Chan
Shui Sum Kong
Company Number
14154571 (England and Wales)
Registered Office
71-75 SHELTON STREET
COVENT GARDEN
LONDON
WC2H 9JQ
UNITED KINGDOM
Accountants
KONG KUEN LEO HO
KONSIO CONSULTING SERVICE LIMITED
196 CROXLEY VIEW
WATFORD
HERTFORDSHIRE
WD18 6PQ
JOE & SUM CREATION LIMITED
Statement of financial position
as at 30 June 2024
Tangible assets
379,073
387,126
Cash at bank and in hand
3,269
2,193
Creditors: amounts falling due within one year
(2,320)
(2,320)
Net current assets/(liabilities)
949
(127)
Total assets less current liabilities
380,022
386,999
Creditors: amounts falling due after more than one year
(432,780)
(432,272)
Net liabilities
(52,758)
(45,273)
Called up share capital
100
100
Profit and loss account
(52,858)
(45,373)
Shareholders' funds
(52,758)
(45,273)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by
Kit Lung Chan
Director
Company Registration No. 14154571
JOE & SUM CREATION LIMITED
Notes to the Accounts
for the year ended 30 June 2024
JOE & SUM CREATION LIMITED is a private company, limited by shares, registered in England and Wales, registration number 14154571. The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
50 years straight line @2%
Plant & machinery
5 years straight line @20%
Fixtures & fittings
10 years straight line @10%
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
385,000
-
5,214
390,214
At 30 June 2024
385,000
210
5,214
390,424
At 1 July 2023
2,567
-
521
3,088
Charge for the year
7,700
42
521
8,263
At 30 June 2024
10,267
42
1,042
11,351
At 30 June 2024
374,733
168
4,172
379,073
At 30 June 2023
382,433
-
4,693
387,126
JOE & SUM CREATION LIMITED
Notes to the Accounts
for the year ended 30 June 2024
5
Creditors: amounts falling due within one year
2024
2023
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
304,000
304,000
Loans from directors
128,780
128,272
Included within creditors due after one year is a balance of £432,740.
Of this amount £128,740 is a long term loan that the director has invested into the company. The director has waived her right to charge interest in this in the tax year. The loan is unsecured. And £304,000.00 is the interest only mortgage.
The total amount outstanding at the year end as above:
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
The ultimate controlling party are the directors of the company:
Mr Kit Lung Chan
Ms Shui Sum Kong
9
Average number of employees
During the year the average number of employees was 1 (2023: 2).