RJN Technologies Ltd - Accounts to registrar (filleted) - small 18.2
RJN Technologies Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
RJN TECHNOLOGIES LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020 |
RJN TECHNOLOGIES LTD (REGISTERED NUMBER: 09764132) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2020 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
RJN TECHNOLOGIES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Exchange |
5 Bank Street |
Bury |
BL9 0DN |
RJN TECHNOLOGIES LTD (REGISTERED NUMBER: 09764132) |
STATEMENT OF FINANCIAL POSITION |
31 JANUARY 2020 |
2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
RJN TECHNOLOGIES LTD (REGISTERED NUMBER: 09764132) |
STATEMENT OF FINANCIAL POSITION - continued |
31 JANUARY 2020 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RJN TECHNOLOGIES LTD (REGISTERED NUMBER: 09764132) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2020 |
1. | STATUTORY INFORMATION |
RJN Technologies Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09764132 and registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Post year end saw the outbreak of Covid-19 in China which has become a global pandemic. The directors expect the company to continue trading through the pandemic. The directors have considered the impact of the global Covid-19 pandemic on the company and recognise that the future cannot be predicted with certainty. However, the directors expect the company to continue trading as the company's property has a 12 month rental agreement (commencing February 2020). Should demand for the company's products fall, the company would introduce cost control measures and would make use of any government funding available to them. |
The company had net assets of £193,612 (2019: £152,477) and cash reserves of £170,790 (2019: £194,004) at the year end and has generated profits post year end. The directors believe that the company is well placed to manage the risks at these challenging times and therefore continues to adopt a going concern basis of accounting in preparing these financial statements. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. |
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. |
Estimating the fair value of the investment property, given a lack of comparable market data and sensitivity to the estimated yield. |
Revenue |
Revenue represents rental income receivable in respect of the accounting period, allocated on a straight line basis over the period of the lease. |
Property, plant and equipment |
Plant and machinery etc | - |
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when changes arise. |
Investment property |
Investment property is initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in the income statement. |
RJN TECHNOLOGIES LTD (REGISTERED NUMBER: 09764132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2020 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
Dividends |
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RJN TECHNOLOGIES LTD (REGISTERED NUMBER: 09764132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2020 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 January 2020 |
NET BOOK VALUE |
At 31 January 2020 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2019 |
and 31 January 2020 |
NET BOOK VALUE |
At 31 January 2020 |
At 31 January 2019 |
The directors are of the opinion that at 31 January 2020 the cost of the investment property represents its current fair value. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | POST BALANCE SHEET EVENTS |
Post year end saw the outbreak of Covid-19 in China which has become a global pandemic. The directors expect the company to continue trading through the pandemic. The directors have considered the impact of the global Covid-19 pandemic on the company and recognise that the future cannot be predicted with certainty. However, the directors expect the company to continue trading as the company's property has a 12 month rental agreement (commencing February 2020). Should demand for the company's products fall, the company would introduce cost control measures and would make use of any government funding available to them. |