Company Registration No. 06400316 (England and Wales)
Juice Moving Images Limited
Unaudited accounts
for the year ended 28 February 2021
Juice Moving Images Limited
Unaudited accounts
Contents
Juice Moving Images Limited
Statement of financial position
as at 28 February 2021
Intangible assets
37,500
41,536
Tangible assets
60,916
73,157
Cash at bank and in hand
1,511,260
411,560
Creditors: amounts falling due within one year
(1,084,519)
(658,913)
Net current assets
742,406
456,687
Total assets less current liabilities
840,822
571,380
Creditors: amounts falling due after more than one year
(205,979)
-
Provisions for liabilities
Deferred tax
(11,574)
(13,900)
Net assets
623,269
557,480
Called up share capital
1,002
1,002
Profit and loss account
622,267
556,478
Shareholders' funds
623,269
557,480
For the year ending 28 February 2021 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 15 October 2021 and were signed on its behalf by
A D Poole
Director
Company Registration No. 06400316
Juice Moving Images Limited
Notes to the Accounts
for the year ended 28 February 2021
Juice Moving Images Limited is a private company, limited by shares, registered in England and Wales, registration number 06400316. The registered office is 2-4 The Byres, Wicklesham Lodge Farm, Farringdon, Oxfordshire, SN7 7PN.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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 based
Goodwill - 7 Years
Patents & licences - 7-12 years
Juice Moving Images Limited
Notes to the Accounts
for the year ended 28 February 2021
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Government grants received in response to the Covid-19 crisis are credited to the profit and loss account in the period in which the company became entitled to receive them.
Juice Moving Images Limited
Notes to the Accounts
for the year ended 28 February 2021
4
Intangible fixed assets
Goodwill
Other
Total
At 1 March 2020
181,131
50,000
231,131
At 28 February 2021
181,131
50,000
231,131
At 1 March 2020
181,131
8,464
189,595
Charge for the year
-
4,036
4,036
At 28 February 2021
181,131
12,500
193,631
At 28 February 2021
-
37,500
37,500
At 29 February 2020
-
41,536
41,536
5
Tangible fixed assets
Plant & machinery
At 28 February 2021
319,368
Charge for the year
28,194
At 28 February 2021
258,452
At 28 February 2021
60,916
At 29 February 2020
73,157
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
165,562
353,519
Amounts due from group undertakings etc.
39,644
54,372
Accrued income and prepayments
92,775
290,398
Other debtors
17,684
5,751
Juice Moving Images Limited
Notes to the Accounts
for the year ended 28 February 2021
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
58,753
17,772
Trade creditors
117,201
135,098
Taxes and social security
91,421
58,898
Other creditors
20,125
21,832
Deferred income
647,071
335,867
8
Creditors: amounts falling due after more than one year
2021
2020
9
Operating lease commitments
2021
2020
At 28 February 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
1,565
9,842
Within two to five years
84,292
143,792
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan repayable on demand
2,368
-
2,368
-
11
Transactions with related parties
The company is a subsidiary of Cake Positive Ltd. Accordingly, the company has taken advantage of the exemption in section 33 of FRS 102 from disclosing transactions with the group.
The parent company is Cake Positive Ltd a company incorporated in England and Wales. Their registered office is 2-4 The Byres, Wicklesham Lodge Farm, Farringdon, Oxfordshire SN7 7PN.
13
Average number of employees
During the year the average number of employees was 21 (2020: 23).
