Company Registration No. 08046111 (England and Wales)
Jolo Leisure Limited
Unaudited accounts
for the year ended 30 September 2024
Jolo Leisure Limited
Unaudited accounts
Contents
Jolo Leisure Limited
Company Information
for the year ended 30 September 2024
Directors
Mr L Lattuca
Mr J-P Lee
Company Number
08046111 (England and Wales)
Registered Office
Unit 1
451 Southbury Road
Enfield
London
EN3 4HR
Accountants
Platts
Unit 5 Swaker Yard
2b Theobald Street
Herts
WD6 4SE
Jolo Leisure Limited
Statement of financial position
as at 30 September 2024
Tangible assets
39,170
46,082
Cash at bank and in hand
2,251
4,864
Creditors: amounts falling due within one year
(257,067)
(266,976)
Net current liabilities
(228,974)
(237,516)
Total assets less current liabilities
(189,804)
(191,434)
Creditors: amounts falling due after more than one year
(9,600)
(42,563)
Net liabilities
(199,404)
(233,997)
Called up share capital
100
100
Profit and loss account
(199,504)
(234,097)
Shareholders' funds
(199,404)
(233,997)
For the year ending 30 September 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 21 May 2025 and were signed on its behalf by
Mr J-P Lee
Director
Company Registration No. 08046111
Jolo Leisure Limited
Notes to the Accounts
for the year ended 30 September 2024
Jolo Leisure Limited is a private company, limited by shares, registered in England and Wales, registration number 08046111. The registered office is Unit 1, 451 Southbury Road, Enfield, London, EN3 4HR.
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.
The directors are of the opinion that the future trading performance of the company will be sufficient to preserve the continued applicability of the company’s going concern status, to pay its debts as they fall due.
The directors are also of the opinion that the significant net liability position, caused by the exceptional write off of an inter company loan debtor, will subsequently improve from the company’s continued trading profits.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Plant & machinery
15% reducing balance
Fixtures & fittings
15% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Jolo Leisure Limited
Notes to the Accounts
for the year ended 30 September 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other
At 30 September 2024
19,500
At 30 September 2024
19,500
The Franchise Fee is being written off in equal annual installments over its estimated economic life of 5 years.
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2023
32,362
186,667
219,029
At 30 September 2024
32,362
186,667
219,029
At 1 October 2023
23,239
149,708
172,947
Charge for the year
1,368
5,544
6,912
At 30 September 2024
24,607
155,252
179,859
At 30 September 2024
7,755
31,415
39,170
At 30 September 2023
9,123
36,959
46,082
Finished goods
2,500
2,500
Jolo Leisure Limited
Notes to the Accounts
for the year ended 30 September 2024
Amounts falling due within one year
Accrued income and prepayments
13,407
12,221
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
30,369
44,071
Trade creditors
3,809
3,809
Taxes and social security
1,358
5,987
Other creditors
4,976
4,744
Loans from directors
190,429
191,429
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Creditors: amounts falling due after more than one year
2024
2023
The Bank Loans amounting to £39,969 (2023 - £86,634) are secured by a Debenture, including a Fixed Equitable Charge over all future freehold and leasehold property; First Fixed Charge, among other things, books and other debts, chattels and goodwill and uncalled capital, both present and future; and a First Floating Charge over all assets and undertaking both present and future to be given by Jolo Leisure Limited.
In addition, personal guarantees have been provided by the director of the Company.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Operating lease commitments
2024
2023
At 30 September 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
39,500
39,500
Later than one year and not later than five years
158,000
158,000
Later than five years
11,468
50,968
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Average number of employees
During the year the average number of employees was 5 (2023: 5).