COMPANY REGISTRATION NUMBER:
10839529
Jonny Clayton Darts Limited |
|
Filleted Unaudited Financial Statements |
|
Jonny Clayton Darts Limited |
|
Statement of Financial Position |
|
30 June 2024
FIXED ASSETS
Tangible assets |
5 |
80,937 |
23,098 |
|
|
|
|
CURRENT ASSETS
Debtors |
6 |
30,076 |
61,691 |
Cash at bank and in hand |
777,503 |
841,119 |
|
--------- |
--------- |
|
807,579 |
902,810 |
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
175,619 |
170,053 |
|
--------- |
--------- |
NET CURRENT ASSETS |
631,960 |
732,757 |
|
--------- |
--------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
712,897 |
755,855 |
|
|
|
|
PROVISIONS |
5,234 |
– |
|
--------- |
--------- |
NET ASSETS |
707,663 |
755,855 |
|
--------- |
--------- |
|
|
|
CAPITAL AND RESERVES
Called up share capital |
8 |
2 |
2 |
Profit and loss account |
707,661 |
755,853 |
|
--------- |
--------- |
SHAREHOLDERS FUNDS |
707,663 |
755,855 |
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Jonny Clayton Darts Limited |
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Statement of Financial Position (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
27 March 2025
, and are signed on behalf of the board by:
Jonathan Clayton
Jonathan Clayton
Director
Company registration number:
10839529
Jonny Clayton Darts Limited |
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Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
GENERAL INFORMATION
Jonny Clayton Darts Limited
is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 30 June 2024. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and equipment, and the depreciation accounting policy for the useful economic lives for each class of assets.
(ii) Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 13 for the net carrying amount of the debtors and associated impairment provision.
(iii) Goodwill and intangible fixed assets
Accounting standards require the recognition of intangible assets as part of a business combination. The methods used to value such intangible assets require the use of estimates. Future results are impacted by the amortisation periods adopted and changes to the estimated useful lives would result in different effects on the profit and loss account and balance sheet. Goodwill is amortised and tested at least annually for impairment along with finite lives of intangible assets and other assets. Tests for impairment are based on subjective assumptions.
(iv) Provisions
Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes
(v) Going Concern
The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Motor vehicles |
- |
25% reducing balance |
|
Equipment |
- |
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
3
(2023:
2
).
5.
TANGIBLE ASSETS
|
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 July 2023 |
22,990 |
|
47,657 |
Additions |
60,000 |
|
63,614 |
|
-------- |
-------- |
--------- |
At 30 June 2024 |
82,990 |
|
111,271 |
|
-------- |
-------- |
--------- |
Depreciation |
|
|
|
At 1 July 2023 |
13,291 |
|
24,559 |
Charge for the year |
2,425 |
|
5,775 |
|
-------- |
-------- |
--------- |
At 30 June 2024 |
15,716 |
|
30,334 |
|
-------- |
-------- |
--------- |
Carrying amount |
|
|
|
At 30 June 2024 |
67,274 |
|
80,937 |
|
-------- |
-------- |
--------- |
At 30 June 2023 |
9,699 |
|
23,098 |
|
-------- |
-------- |
--------- |
|
|
|
|
6.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
– |
17,500 |
Other debtors |
30,076 |
44,191 |
|
-------- |
-------- |
|
30,076 |
61,691 |
|
-------- |
-------- |
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
– |
19,500 |
Corporation tax |
39,038 |
149,053 |
Other creditors |
136,581 |
1,500 |
|
--------- |
--------- |
|
175,619 |
170,053 |
|
--------- |
--------- |
|
|
|
8.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
2 |
2 |
2 |
2 |
|
---- |
---- |
---- |
---- |
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|
|
|
|
9.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Balance owing to the director from the company at the year end was £87,916 (2023:£22,047 DR) No interest was charged on the outstanding amounts.