Jet PR Ltd - Period Ending 2014-12-31

Registration number: NI071247

Jet PR Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Hamilton Morris Waugh Limited
Chartered Accountants
34 Dufferin Avenue
Bangor
County Down
BT20 3AA

Jet PR Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Jet PR Ltd
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jet PR Ltd for the year ended 31 December 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compliation of financial statements.

This report is made solely to the Board of Directors of Jet PR Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Jet PR Ltd and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jet PR Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jet PR Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jet PR Ltd. You consider that Jet PR Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Jet PR Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Hamilton Morris Waugh Limited
Chartered Accountants
34 Dufferin Avenue
Bangor
County Down
BT20 3AA

14 September 2015

Page 1

Jet PR Ltd
(Registration number: NI071247)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					29,234			6,393
Current assets
Stocks					11,389			6,755
Debtors					19,105			19,298
Cash at bank and in hand					63,266			49,632
					93,760			75,685
Creditors: Amounts falling due within one year					(34,520)			(30,527)
Net current assets					59,240			45,158
Total assets less current liabilities					88,474			51,551
Creditors: Amounts falling due after more than one year					(21,480)			(2,982)
Net assets					66,994			48,569
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					66,993			48,568
Shareholders' funds					66,994			48,569

For the year ending 31 December 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 14 September 2015 and signed on its behalf by:

.........................................
Mrs Jacqui Thompson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Jet PR Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% straight line
Motor vehicles	25% straight line
Office Equipment	25% Straight Line

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Jet PR Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		32,493			32,493
Additions		37,883			37,883
Disposals		(17,950)			(17,950)
At 31 December 2014		52,426			52,426
Depreciation
At 1 January 2014		26,100			26,100
Charge for the year		10,556			10,556
Eliminated on disposals		(13,464)			(13,464)
At 31 December 2014		23,192			23,192
Net book value
At 31 December 2014		29,234			29,234
At 31 December 2013		6,393			6,393

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

Page 4