John Gay Associates Limited - Period Ending 2020-06-30

John Gay Associates Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

John Gay Associates Limited

(Registration number: 7764841)
Balance Sheet as at 30 June 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	-	1,777
Current assets
Debtors	5	267	-
Cash at bank and in hand		10,921	20,552
		11,188	20,552
Creditors: Amounts falling due within one year	6	(5,400)	(10,069)
Net current assets		5,788	10,483
Net assets		5,788	12,260
Capital and reserves
Called up share capital	7	2	2
Profit and loss account		5,786	12,258
Shareholders' funds		5,788	12,260

For the financial period ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 15 February 2021 and signed on its behalf by:
 

.........................................

Reverend J D Gay
Director

John Gay Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2019 to 30 June 2020

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
43A Bulmershe Road
Reading
Berkshire
RG1 5RH

These financial statements were authorised for issue by the Board on 15 February 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The company's final financial statements are for the period 1st October 2019 to 30th June 2020, when the company ceased trading.

Going concern

The directors took the decision for the company to cease trading from 30th June 2020 and the financial statements have been prepared on a basis other than that of the going concern basis. The financial statements do not include any provision for the future costs of terminating the business.

Revenue recognition

Turnover represents amounts chargeable in respect of consultancy services provided to customers.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

John Gay Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2019 to 30 June 2020

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	20% Straight Line Basis

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2019 - 0).

John Gay Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2019 to 30 June 2020

4	Tangible assets

	Office equipment  £	Total £
Cost or valuation
At 1 October 2019	5,991	5,991
Disposals	(5,991)	(5,991)
At 30 June 2020	-	-
Depreciation
At 1 October 2019	4,215	4,215
Eliminated on disposal	(4,215)	(4,215)
At 30 June 2020	-	-
Carrying amount
At 30 June 2020	-	-
At 30 September 2019	1,777	1,777

5

Debtors

	2020 £	2019 £
Corporation tax control	267	-
	267	-

6

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Accruals and deferred income	-	2,433
Other creditors	5,400	7,636
	5,400	10,069

John Gay Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2019 to 30 June 2020

7	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary share of £1 each	2	2	2	2

8

Dividends

Final dividends paid

		2020 £		2019 £
Final dividend of £2,000 per each Ordinary share		4,000		4,000

9	Related party transactions

Directors

At the balance sheet date, £5,400 (2019: £5,966) was owed by the company to the directors.