Company Registration No. 06467209 (England and Wales)
Piojito Limited
Unaudited financial statements
For the year ended 31 January 2022
Pages for filing with registrar
PIOJITO LIMITED
Piojito Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PIOJITO LIMITED
Piojito Limited
BALANCE SHEET
AS AT
31 JANUARY 2022
31 January 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,560
6,164
Current assets
Stocks
11,060
15,666
Debtors
4
49,934
69,885
Cash at bank and in hand
161,901
123,588
222,895
209,139
Creditors: amounts falling due within one year
5
(73,337)
(45,799)
Net current assets
149,558
163,340
Net assets
154,118
169,504
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
154,117
169,503
Total equity
154,118
169,504
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 year 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.
PIOJITO LIMITED
Piojito Limited
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2022
31 January 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 October 2022
D Lazarus
Director
Company Registration No. 06467209
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
- 3 -
1
Accounting policies
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 income receivable from physical and digital record sales and royalties and licence fees receivable from the exploitation of musical compositions.
1.3
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:
Plant and machinery
33.33%
Fixtures, fittings & equipment
25.00%
1.4
Stocks
Stocks
of CDs and Vinyl
are stated at the lower of cost and estimated selling price
.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
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.
1.7
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.
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2021 and 31 January 2022
10,491
Depreciation and impairment
At 1 February 2021
4,327
Depreciation charged in the year
1,604
At 31 January 2022
5,931
Carrying amount
At 31 January 2022
4,560
At 31 January 2021
6,164
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
731
10,879
Corporation tax recoverable
3,244
7,444
Other debtors
45,959
51,562
49,934
69,885
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 5 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
10,536
11,476
Taxation and social security
5,936
3,048
Other creditors
56,865
31,275
73,337
45,799
6
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Share of £1 each
1
1
7
Company information
Piojito Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
55 Loudoun Road, St. John's Wood, London, NW8 0DL.
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 £.