Jonas Seafood Limited - Abbreviated accounts 16.3
Jonas Seafood Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016 |
| FOR |
| JONAS SEAFOOD LIMITED |
| JONAS SEAFOOD LIMITED (REGISTERED NUMBER: 05055989) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| JONAS SEAFOOD LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| JONAS SEAFOOD LIMITED (REGISTERED NUMBER: 05055989) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 4 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account | ( |
) | ( |
) |
| 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. |
| The financial statements were approved by the Board of Directors on |
| JONAS SEAFOOD LIMITED (REGISTERED NUMBER: 05055989) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At 31 March 2016 the company had net current liabilities of £172,112 and net liabilities of £19,515. The company meets its |
| day to day working capital commitments through the use of bank loans, overdrafts, invoice discounting facility and a loan |
| from a director. On the basis of the anticipated cashflows the directors consider that the company will continue to trade |
| successfully and have agreed to continue to support the company for the foreseeable future. The directors consider it |
| appropriate to prepare the financial statements on a going concern basis. The financial statements do not included any |
| adjustment that would result from the withdrawal of this support. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
| Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Development costs |
| Development expenditure on clearly defined projects where it's recovery can reasonably be regarded as assured, is |
| deferred to future periods. Deferred development expenditure will be amortised over the period in which the related product |
| is expected to be sold. Amortisation will commence with the commercial production of the product and will be written off |
| over their useful economic life estimated at five years. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under |
| hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated |
| over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
| element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of |
| the lease. |
| Deferred tax |
| The charge for taxation is based on the results for the year and takes into account taxation deferred because of timing |
| differences between the treatment of certain items for taxation and accounting purposes. In accordance with Financial |
| Reporting Standard 19, provision is made for deferred tax in respect of all timing differences that have originated but not |
| reversed by the balance sheet date. Deferred tax assets are only recognised when it is more likely than not that the |
| deferred tax asset will be recovered. Deferred tax is measured using rates of tax that have been enacted or substantially |
| enacted by the balance sheet date. Deferred tax balances are not discounted. |
| Government grants |
| Grants receivable as a contribution towards expenditure on fixed assets are shown as other creditors which is credited to |
| the profit and loss account over the estimated useful economic lives of the related assets on a basis consistent with the |
| depreciation policy in accordance with SSAP4. |
| Government grants of a revenue nature are credited to the profit and loss account in the same period as the related |
| expenditure. |
| JONAS SEAFOOD LIMITED (REGISTERED NUMBER: 05055989) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES - continued |
| Invoice discounting |
| The company assigns debts to an invoice discounting and these debts are included in debtors in the balance sheet and the |
| proceeds received from the invoice discounter are included in creditors. The interest element of the discounters charges |
| and other discounting costs are charged to the profit and loss account as incurred. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| AMORTISATION |
| Amortisation for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2016 | 2015 |
| £ | £ |
| Repayable by instalments | 46,204 | 68,381 |
| JONAS SEAFOOD LIMITED (REGISTERED NUMBER: 05055989) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| Ordinary | £1 |
| Ordinary | £1 |
| 100 | 100 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at 1 April 2015, the director, Mr K W Jonas, was owed £10,569 by the company. During the year there were withdrawals |
| of £2,870 (2015 - £Nil) and funds advanced of £19,411 (2015 - £Nil). As at 31 March 2016, the balance owed to the director |
| was £27,110. No interest was charged on this amount which is repayable on demand. |