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Registration number: 08162038

Just Kidding (UK) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Just Kidding (UK) Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Just Kidding (UK) Limited

Company Information

Directors

B N Francis

H Flanagan

Company secretary

H Flanagan

Registered office

Ranger House
Etruria Road
Hanley
Staffordshire
ST1 5NH

Accountants

Bright Partnership Limited
Suite 1 Armcon Business Park
London Road South
Poynton
Stockport
Cheshire
SK12 1LQ

 

Just Kidding (UK) Limited

(Registration number: 08162038)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

82,523

95,613

Current assets

 

Stocks

4,000

4,000

Debtors

6

136,345

238,931

Cash at bank and in hand

 

44,581

50,356

 

184,926

293,287

Creditors: Amounts falling due within one year

7

(119,544)

(218,753)

Net current assets

 

65,382

74,534

Total assets less current liabilities

 

147,905

170,147

Creditors: Amounts falling due after more than one year

7

(135,046)

(157,782)

Provisions for liabilities

(12,191)

(11,942)

Net assets

 

668

423

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

664

419

Shareholders' funds

 

668

423

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

 

Just Kidding (UK) Limited

(Registration number: 08162038)
Statement of Financial Position as at 31 July 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 28 April 2025 and signed on its behalf by:
 

.........................................
B N Francis
Director

.........................................
H Flanagan
Company secretary and director

 

Just Kidding (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ranger House
Etruria Road
Hanley
Staffordshire
ST1 5NH

These financial statements were authorised for issue by the Board on 28 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

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

The current income 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 assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Just Kidding (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% reducing balance

Fixtures and Fittings

15% reducing balance

Computer Equipment

Straight Line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Just Kidding (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 15).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

13,090

18,376

 

Just Kidding (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2023

303,202

173,805

12,494

489,501

At 31 July 2024

303,202

173,805

12,494

489,501

Depreciation

At 1 August 2023

232,559

148,835

12,494

393,888

Charge for the year

8,096

4,994

-

13,090

At 31 July 2024

240,655

153,829

12,494

406,978

Carrying amount

At 31 July 2024

62,547

19,976

-

82,523

At 31 July 2023

70,643

24,970

-

95,613

6

Debtors

Current

2024
£

2023
£

Prepayments

3,678

2,905

Other debtors

132,667

236,026

 

136,345

238,931

 

Just Kidding (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

22,168

91,867

Trade creditors

 

25,538

35,662

Taxation and social security

 

48,973

66,862

Accruals and deferred income

 

4,783

4,056

Other creditors

 

18,082

20,306

 

119,544

218,753

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

135,046

157,782

Secured Debts

The Bank Overdraft and bank loan are secured on the assets of the company. Bank Loan Amount £157,214 (£249,649 - 2023)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Share capital of £1 each

4

4

4

4

       
 

Just Kidding (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

9

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Repayments by director
£

At 31 July 2024
£

H Flanagan

Movement

(19,143)

10,000

(9,143)

B N Francis

Movement

(6,689)

9,854

3,165

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

H Flanagan

Movement

(9,409)

(9,734)

(19,143)

B N Francis

Movement

(5,144)

(1,545)

(6,689)