JNJ_Bathrooms_Limited - Accounts
JNJ_Bathrooms_Limited - Accounts
Company Registration No. SC246107 (Scotland)
Abbreviated financial statements
for the year ended 31 July 2015
Contents
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated financial statements
3 - 4
Abbreviated balance sheet
as at 31 July 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(89,848 )
(115,141 )
Net current liabilities
(70,586 )
(99,957 )
Total assets less current liabilities
(29,161 )
(70,231 )
Creditors: amounts falling due after more than one year
4
(14,082 )
(21,974 )
Provisions for liabilities
(2,868 )
-
(46,111 )
(92,205 )
Capital and reserves
Called up share capital
5
Profit and loss account
(47,111 )
(93,205 )
Shareholders' funds
(46,111 )
(92,205 )
Abbreviated balance sheet (continued)
as at 31 July 2015
- 2 -
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 14 April 2016
Director
Company Registration No. SC246107
Notes to the abbreviated financial statements
for the year ended 31 July 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The accounts have been prepared on a going concern basis which assumes the company will continue to trade. The validity of this assumption is based upon the continued support of the directors. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Tangible fixed assets and depreciation
Tenant's Improvements
Plant and machinery
Motor vehicles
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Taxation
The tax expense represents the corporation tax charge for the year.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.
Notes to the abbreviated financial statements (continued)
for the year ended 31 July 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2014
54,836
Additions
26,574
At 31 July 2015
81,410
Depreciation
At 1 August 2014
25,110
Charge for the year
14,875
At 31 July 2015
39,985
Net book value
At 31 July 2015
41,425
At 31 July 2014
29,726
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £7,892 (2014 - £7,892).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £14,082 (2014 - £21,974).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid