Company Registration No. 06291776 (England and Wales)
John Doe Group Limited
(formerly known as John Doe Communications Limited)
Unaudited financial statements
for the period ended 31 December 2021
Pages for filing with the Registrar
John Doe Group Limited (formerly known as John Doe Communications Limited)
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 10
John Doe Group Limited (formerly known as John Doe Communications Limited)
Statement of financial position
As at 31 December 2021
Page 1
31 December
31 January
2021
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
1,278
Tangible assets
5
52,704
6,892
Investments
6
900,000
900,000
952,704
908,170
Current assets
Debtors
7
1,295,693
243,266
Cash at bank and in hand
649,513
419,509
1,945,206
662,775
Creditors: amounts falling due within one year
8
(1,790,195)
(461,633)
Net current assets
155,011
201,142
Total assets less current liabilities
1,107,715
1,109,312
Creditors: amounts falling due after more than one year
9
(40,000)
(47,000)
Net assets
1,067,715
1,062,312
Capital and reserves
Called up share capital
24
24
Share premium account
907,017
907,017
Capital redemption reserve
2
2
Profit and loss reserves
160,672
155,269
Total equity
1,067,715
1,062,312
John Doe Group Limited (formerly known as John Doe Communications Limited)
Statement of financial position (continued)
As at 31 December 2021
Page 2
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial period ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
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 21 December 2022 and are signed on its behalf by:
Magin Trewhella
Director
Company Registration No. 06291776
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements
For the period ended 31 December 2021
Page 3
1
Accounting policies
Company information
John Doe Group Limited (formerly known as John Doe Communications Limited) is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
71 Queen Victoria Street, London, EC4V 4BE.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
The financial year of the Company was changed from 31 January to 31 December so as to be coterminous with the year end of its subsidiary company. Accordingly, the current financial statements are prepared for 11 months from 1 February 2021 to 31 December 2021 and, as a result, the comparative figures stated in the income statement and the related notes are not comparable.
1.3
Turnover
Turnover represents amounts receivable for services
and expenses recharged
net of VAT. Revenue is recognised on an accruals basis.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date
where
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the
fair
value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website costs
20% straight line
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements (continued)
For the period ended 31 December 2021
1
Accounting policies (continued)
Page 4
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold property
10% straight line
Plant and machinery
25% straight line
Fixtures, fittings and equipment
25% straight line
Computer equipment
33% straight line
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
.
1.6
Fixed asset investments
Interests in subsidiaries
are
measured at
fair value at each reporting date. Changes in fair value are recognised in other comprehensive income.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.7
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements (continued)
For the period ended 31 December 2021
1
Accounting policies (continued)
Page 5
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in
profit
or
loss
, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.8
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements (continued)
For the period ended 31 December 2021
1
Accounting policies (continued)
Page 6
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.11
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
income statement
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements (continued)
For the period ended 31 December 2021
1
Accounting policies (continued)
Page 7
1.12
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the period they are payable.
1.14
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
1.15
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements (continued)
For the period ended 31 December 2021
Page 8
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
31 December
31 January
2021
2021
Number
Number
Total
48
10
4
Intangible fixed assets
Website costs
£
Cost
At 1 February 2021 and 31 December 2021
9,000
Amortisation and impairment
At 1 February 2021
7,722
Amortisation charged for the period
1,278
At 31 December 2021
9,000
Carrying amount
At 31 December 2021
At 31 January 2021
1,278
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements (continued)
For the period ended 31 December 2021
Page 9
5
Tangible fixed assets
Leasehold property
Plant and machinery
Fixtures, fittings and equipment
Computer equipment
Total
£
£
£
£
£
At 1 February 2021
3,132
1,790
801
13,176
18,899
Additions
11,630
5,732
42,682
60,044
Disposals
(880)
(180)
(377)
(1,437)
At 31 December 2021
3,132
12,540
6,353
55,481
77,506
At 1 February 2021
1,368
1,406
467
8,766
12,007
Depreciation charged in the period
287
1,510
978
11,357
14,132
Eliminated in respect of disposals
(880)
(80)
(377)
(1,337)
At 31 December 2021
1,655
2,036
1,365
19,746
24,802
Carrying amount
At 31 December 2021
1,477
10,504
4,988
35,735
52,704
At 31 January 2021
1,764
384
334
4,410
6,892
6
Fixed asset investments
31 December
31 January
2021
2021
£
£
Shares in group undertakings and participating interests
900,000
900,000
7
Debtors
31 December
31 January
2021
2021
Amounts falling due within one year:
£
£
Trade debtors
899,830
95,514
Other debtors
386,766
127,366
1,286,596
222,880
Deferred tax asset
9,097
20,386
1,295,693
243,266
John Doe Group Limited (formerly known as John Doe Communications Limited)
Notes to the financial statements (continued)
For the period ended 31 December 2021
Page 10
8
Creditors: amounts falling due within one year
31 December
31 January
2021
2021
£
£
Bank loans
7,500
3,000
Trade creditors
384,465
110,158
Corporation tax
43,720
Other taxation and social security
346,912
46,795
Other creditors
1,007,598
301,680
1,790,195
461,633
9
Creditors: amounts falling due after more than one year
31 December
31 January
2021
2021
£
£
Bank loans and overdrafts
40,000
47,000
2021-12-31
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21 December 2022
CCH Software
CCH Accounts Production 2022.100
No description of principal activity
Rachel Bell
Magin Trewhella
Lee Beattie
Pamela Scobbie
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