| Jeffrey Nicholas Limited |
| Registered number: |
03236351 |
| Balance Sheet |
| as at 31 July 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
309,164 |
|
|
309,510 |
|
| Current assets |
| Debtors |
4 |
|
- |
|
|
707 |
| Cash at bank and in hand |
|
|
149,876 |
|
|
145,758 |
|
|
|
149,876 |
|
|
146,465 |
|
| Creditors: amounts falling due within one year |
5 |
|
(88,665) |
|
|
(94,278) |
|
| Net current assets |
|
|
|
61,211 |
|
|
52,187 |
|
| Total assets less current liabilities |
|
|
|
370,375 |
|
|
361,697 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(121,537) |
|
|
(131,277) |
|
|
|
| Net assets |
|
|
|
248,838 |
|
|
230,420 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Capital redemption reserve |
8 |
|
|
(42,500) |
|
|
(42,500) |
| Profit and loss account |
|
|
|
291,336 |
|
|
272,918 |
|
| Shareholders' funds |
|
|
|
248,838 |
|
|
230,420 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr J A Dean |
| Director |
| Approved by the board on 8 January 2020 |
|
| Jeffrey Nicholas Limited |
| Notes to the Accounts |
| for the year ended 31 July 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% straight line |
|
|
Taxation |
|
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. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 August 2018 |
4,375 |
|
At 31 July 2019 |
4,375 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 August 2018 |
4,375 |
|
At 31 July 2019 |
4,375 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2019 |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 August 2018 |
309,000 |
|
25,376 |
|
334,376 |
|
At 31 July 2019 |
309,000 |
|
25,376 |
|
334,376 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2018 |
- |
|
24,866 |
|
24,866 |
|
Charge for the year |
- |
|
346 |
|
346 |
|
At 31 July 2019 |
- |
|
25,212 |
|
25,212 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2019 |
309,000 |
|
164 |
|
309,164 |
|
At 31 July 2018 |
309,000 |
|
510 |
|
309,510 |
|
|
| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
- |
|
582 |
|
Other debtors |
- |
|
125 |
|
|
|
|
|
|
- |
|
707 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Bank loans and overdrafts |
16,132 |
|
16,132 |
|
Trade creditors |
683 |
|
115 |
|
Taxation and social security costs |
5,615 |
|
- |
|
Director's loan account |
65,181 |
|
78,031 |
|
Other creditors |
1,054 |
|
- |
|
|
|
|
|
|
88,665 |
|
94,278 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Bank loans |
121,537 |
|
131,277 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2019 |
|
2018 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
137,669 |
|
147,409 |
|
|
|
|
|
|
|
|
|
|
Bank loans are secured by way of fixed and floating charge over all the assets of the company. |
|
|
|
|
| 8 |
Capital redemption reserve |
2019 |
|
2018 |
| £ |
£ |
|
|
At 1 August 2018 |
(42,500) |
|
(42,500) |
|
|
At 31 July 2019 |
(42,500) |
|
(42,500) |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
During the year the director J Dean loaned the company £65,181 on an interest free basis. This is included within creditors.
There is no set repayment date. |
|
|
| 10 |
Controlling party |
|
|
The ultimate controlling party is the director J Dean who holds 100% of the issued share capital of the company. |
|
|
| 11 |
Other information |
|
|
Jeffrey Nicholas Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
71 Cross Street |
|
Islington |
|
London |
|
N1 2BB |
