Company Registration No. 06467209 (England and Wales)
Piojito Limited
Unaudited financial statements
For the year ended 31 January 2021
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 2021
31 January 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,164
8,345
Current assets
Stocks
15,666
14,290
Debtors
4
69,885
63,901
Cash at bank and in hand
123,588
166,764
209,139
244,955
Creditors: amounts falling due within one year
5
(45,799)
(49,703)
Net current assets
163,340
195,252
Net assets
169,504
203,597
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
169,503
203,596
Total equity
169,504
203,597
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 2021 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 2021
31 January 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 20 October 2021
D Lazarus
Director
Company Registration No. 06467209
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
- 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 royalties received for physical and digital
record
sales and fees received for licensing and consultancy net of VAT and trade discounts.
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 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2020 and 31 January 2021
10,491
Depreciation and impairment
At 1 February 2020
2,146
Depreciation charged in the year
2,181
At 31 January 2021
4,327
Carrying amount
At 31 January 2021
6,164
At 31 January 2020
8,345
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
10,879
4,676
Corporation tax recoverable
7,444
Other debtors
51,562
59,225
69,885
63,901
PIOJITO LIMITED
Piojito Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2021
- 5 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
11,476
2,981
Corporation tax
14,069
Other taxation and social security
3,048
4,192
Other creditors
31,275
28,461
45,799
49,703
6
Called up share capital
2021
2020
£
£
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 £.