Company registration number 12457081 (England and Wales)
JOFF LEE STUDIO LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
JOFF LEE STUDIO LIMITED
COMPANY INFORMATION
Directors
Mr J R Lee
Mrs M E Lee
Company number
12457081
Registered office
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
United Kingdom
CM12 0EQ
Accountants
Xeinadin Billericay Limited
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ
JOFF LEE STUDIO LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
JOFF LEE STUDIO LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -
The directors present their annual report and financial statements for the year ended 31 March 2025.
Principal activities
The principal activity of the company in the year under review was that of a photographic studio.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr J R Lee
Mrs M E Lee
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr J R Lee
Director
1 August 2025
JOFF LEE STUDIO LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JOFF LEE STUDIO LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Joff Lee Studio Limited for the year ended 31 March 2025 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Joff Lee Studio Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Joff Lee Studio Limited and state those matters that we have agreed to state to the board of directors of Joff Lee Studio Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Joff Lee Studio Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Joff Lee Studio Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Joff Lee Studio Limited. You consider that Joff Lee Studio Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Joff Lee Studio Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Xeinadin Billericay Limited
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ
1 August 2025
JOFF LEE STUDIO LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2025
2024
£
£
Turnover
52,168
52,745
Administrative expenses
(33,498)
(31,607)
Operating profit
18,670
21,138
Interest receivable and similar income
7
27
Profit before taxation
18,677
21,165
Tax on profit
(3,643)
(2,881)
Profit for the financial year
15,034
18,284
JOFF LEE STUDIO LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 4 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
16,807
19,873
Current assets
Debtors
4
82
194
Cash at bank and in hand
68,789
116,773
68,871
116,967
Creditors: amounts falling due within one year
5
(10,684)
(48,297)
Net current assets
58,187
68,670
Total assets less current liabilities
74,994
88,543
Provisions for liabilities
(3,193)
(3,776)
Net assets
71,801
84,767
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
71,701
84,667
Total equity
71,801
84,767
For the financial year ended 31 March 2025 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
Mr J R Lee
Director
Company registration number 12457081 (England and Wales)
JOFF LEE STUDIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
1
Accounting policies
Company information
Joff Lee Studio Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lakeview House, 4 Woodbrook Crescent, Billericay, Essex, United Kingdom, CM12 0EQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax (having regard to the fulfilment of contractual obligations).
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Photographic & Computer equip
15% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% on reducing balance
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.
1.4
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
JOFF LEE STUDIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
37,757
Depreciation and impairment
At 1 April 2024
17,884
Depreciation charged in the year
3,066
At 31 March 2025
20,950
Carrying amount
At 31 March 2025
16,807
At 31 March 2024
19,873
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
39
Other debtors
82
155
82
194
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
175
226
Taxation and social security
6,470
6,402
Other creditors
4,039
41,669
10,684
48,297
JOFF LEE STUDIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100