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Company No: 13555058 (England and Wales)

JOYNETIX LIMITED

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

JOYNETIX LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

JOYNETIX LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
JOYNETIX LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,108 1,859
3,108 1,859
Current assets
Debtors 4 28,389 61,381
Cash at bank and in hand 287 352
28,676 61,733
Creditors: amounts falling due within one year 5 ( 27,639) ( 63,259)
Net current assets/(liabilities) 1,037 (1,526)
Total assets less current liabilities 4,145 333
Net assets 4,145 333
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 4,045 233
Total shareholders' funds 4,145 333

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

Directors' responsibilities:

The financial statements of Joynetix Limited (registered number: 13555058) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S Shah
Director

03 April 2025

JOYNETIX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
JOYNETIX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Joynetix 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

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 the 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

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

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 2,491 2,491
Additions 2,297 2,297
At 31 August 2024 4,788 4,788
Accumulated depreciation
At 01 September 2023 632 632
Charge for the financial year 1,048 1,048
At 31 August 2024 1,680 1,680
Net book value
At 31 August 2024 3,108 3,108
At 31 August 2023 1,859 1,859

4. Debtors

2024 2023
£ £
Trade debtors 0 29,640
Amounts owed by directors 28,389 31,741
28,389 61,381

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 3,110 3,600
Taxation and social security 24,529 59,659
27,639 63,259

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100