Jmail Assets Limited Company Accounts
Jmail Assets Limited Company Accounts
COMPANY REGISTRATION NUMBER:
06167917
|
|
|
|
Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
|
Year ended 31 March 2017
10 Mercury Quays
Ashley Lane
Shipley
West Yorkshire
BD17 7DB
|
Statement of Financial Position |
2017 |
2016 |
||
Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
4 |
|
|
|
Current assets
Debtors |
5 |
|
|
|
Cash at bank and in hand |
|
|
||
-------- |
-------- |
|||
|
|
|||
Creditors: amounts falling due within one year |
6 |
|
|
|
--------- |
--------- |
|||
Net current liabilities |
|
|
||
------------ |
------------ |
|||
Total assets less current liabilities |
|
|
||
Creditors: amounts falling due after more than one year |
7 |
|
|
|
------------ |
------------ |
|||
Net assets |
|
|
||
------------ |
------------ |
|||
Capital and reserves
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
------- |
-------- |
||
Members funds |
|
|
|
------- |
-------- |
||
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
17 August 2017
, and are signed on behalf of the board by:
|
|
Director |
|
Company registration number:
06167917
|
Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1 Tradeforce Building, Cornwall Place, Bradford, BD8 7JT.
2.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment |
- |
20% straight line |
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
3.
Particulars of employees
The average number of persons employed by the company during the year, including the director, amounted to
9
(2016:
9
).
4.
Tangible assets
Freehold property |
Long leasehold property |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 April 2016 |
|
|
2,056 |
|
Additions |
|
|
3,067 |
|
------------ |
--------- |
------- |
------------ |
|
At 31 March 2017 |
|
|
5,123 |
|
------------ |
--------- |
------- |
------------ |
|
Depreciation |
||||
At 1 April 2016 |
– |
– |
1,309 |
|
Charge for the year |
– |
– |
1,025 |
|
------------ |
--------- |
------- |
------------ |
|
At 31 March 2017 |
– |
– |
2,334 |
|
------------ |
--------- |
------- |
------------ |
|
Carrying amount |
||||
At 31 March 2017 |
|
|
2,789 |
|
------------ |
--------- |
------- |
------------ |
|
At 31 March 2016 |
|
|
747 |
|
------------ |
--------- |
------- |
------------ |
|
5.
Debtors
2017 |
2016 |
|
£ |
£ |
|
Trade debtors |
|
|
Other debtors |
|
|
-------- |
-------- |
|
|
|
|
-------- |
-------- |
|
6.
Creditors:
amounts falling due within one year
2017 |
2016 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Corporation tax |
|
– |
Social security and other taxes |
|
|
Other creditors |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
7.
Creditors:
amounts falling due after more than one year
2017 |
2016 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
Other creditors |
|
|
------------ |
------------ |
|
|
|
|
------------ |
------------ |
|
Included within creditors: amounts falling due after more than one year is an amount of £617,216 (2016: £616,710) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2017 |
|||||
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
(
|
|
(
|
(
|
|
------------ |
-------- |
--------- |
------------ |
||
2016 |
|||||
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
||
£ |
£ |
£ |
£ |
||
|
(
|
|
(
|
(
|
|
--------- |
--------- |
--------- |
------------ |
||
9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.