Jack Brown Limited - Accounts to registrar - small 17.2
Jack Brown Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2017 |
| for |
| Jack Brown Limited |
| Jack Brown Limited (Registered number: SC108442) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Jack Brown Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Old Tweed Mill |
| Dunsdale Road |
| Selkirk |
| Selkirkshire |
| TD7 5DZ |
| Jack Brown Limited (Registered number: SC108442) |
| Statement of Financial Position |
| 31 March 2017 |
| 31/3/17 | 31/3/16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Capital redemption reserve |
| Retained earnings | ( |
) |
| 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. |
| Jack Brown Limited (Registered number: SC108442) |
| Statement of Financial Position - continued |
| 31 March 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Jack Brown Limited (Registered number: SC108442) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Jack Brown Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Inventories and work in progress are valued at the lower of cost and net realisable value, after making due |
| allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
| bringing inventories to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Jack Brown Limited (Registered number: SC108442) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2016 |
| Disposals | ( |
) |
| At 31 March 2017 |
| AMORTISATION |
| At 1 April 2016 |
| Amortisation for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Jack Brown Limited (Registered number: SC108442) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments and accrued income |
| Jack Brown Limited (Registered number: SC108442) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 8,270 | 2,275 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Other loans - 1-2 years |
| Hire purchase contracts (see note 9) |
| Accruals and deferred income |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Within one year |
| Between one and five years |
| Jack Brown Limited (Registered number: SC108442) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| The bank overdraft and loans are secured by a floating charge over all the company's assets. |
| 11. | PROVISIONS FOR LIABILITIES |
| 31/3/17 | 31/3/16 |
| £ | £ |
| Deferred tax | 29,500 | - |
| Deferred |
| tax |
| £ |
| Provided during year |
| Balance at 31 March 2017 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/3/17 | 31/3/16 |
| value: | £ | £ |
| NIL | Ordinary | £0.10 | - | 82 |
| (31/3/16 - 820 ) |
| Extra Special A Shares | £0.10 | 5 | - |
| Special C Shares | £0.10 | 7 | - |
| Special D Shares | £0.10 | 5 | - |
| Ordinary F Shares | £0.10 | 3 | - |
| 50 | Ordinary G Shares | £0.10 | 5 | - |
| 70 | Ordinary H Shares | £0.10 | 7 | - |
| 85 | Ordinary I Shares | £0.10 | 9 | - |
| 50 | Ordinary N Shares | £0.10 | 5 | - |
| 70 | Ordinary O Shares | £0.10 | 7 | - |
| 50 | Ordinary P Shares | £0.10 | 5 | - |
| 35 | Ordinary Q Shares | £0.10 | 3 | - |
| 50 | Ordinary R Shares | £0.10 | 5 | - |
| 70 | Ordinary S Shares | £0.10 | 7 | - |
| 85 | Ordinary T Shares | £0.10 | 9 | - |
| 82 | 82 |
| During the year a share re-organisation was carried out. |
| Jack Brown Limited (Registered number: SC108442) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 13. | RELATED PARTY DISCLOSURES |
| During the year the company has purchased £63,501 (2016 £64,138) of materials on arms-length terms from |
| Scotlens Limited a company under the control of S Brown, a director of the company. At the balance sheet date |
| £11,586 (2016 £10,164) was owed by the company to Scotlens Limited. This balance is included within trade |
| creditors. |
| 14. | FIRST YEAR ADOPTION |
| The policies applied under the company's previous accounting framework are not materially different to FRS 102 |
| and have not impacted on equity or profit. |