JSW Robotic Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06702755 (England and Wales)

JSW ROBOTIC SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

J Wilkinson

REGISTERED OFFICE:

14 London Road

Newark

Nottinghamshire

NG24 1TW

BUSINESS ADDRESS:

15 Squirrel Chase

Witham St Hughes

Lincoln

Lincolnshire

LN6 9UX

REGISTERED NUMBER:

06702755 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

BANKERS:

Barclays Bank plc

City Office Park

Tritton Road

Lincoln

FIXED ASSETS

Property, plant and equipment

4

1,035

1,380

CURRENT ASSETS

Debtors

5

31,127

761

Cash at bank

31,042

62,245

62,169

63,006

CREDITORS

Amounts falling due within one year

6

9,471

8,186

NET CURRENT ASSETS

52,698

54,820

TOTAL ASSETS LESS CURRENT LIABILITIES

53,733

56,200

PROVISIONS FOR LIABILITIES

197

276

NET ASSETS

53,536

55,924

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

53,535

55,923

SHAREHOLDERS' FUNDS

53,536

55,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 15 December 2017 and were signed by:

J Wilkinson - Director

1.	STATUTORY INFORMATION

JSW Robotic Services Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102.

The transition is not considered to have a material effect on the financial statements and no adjustments were necessary to

restate the financial statements from previous UK GAAP.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction

price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value

of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference

shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a

financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a

market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from

suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are

presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured

at amortised cost using the effective interest method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

At 1 April 2016

and 31 March 2017

2,563

DEPRECIATION

At 1 April 2016

1,183

Charge for year

345

At 31 March 2017

1,528

NET BOOK VALUE

At 31 March 2017

1,035

At 31 March 2016

1,380

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

28,464

8

Directors' loan accounts

1,895

-

Prepayments

768

753

31,127

761

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Taxation

7,526

5,231

Other taxes and social security

14

970

Directors' loan accounts

-

299

Accruals and deferred income

1,931

1,686

9,471

8,186

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and 31 March 2016:

31.3.17

31.3.16

£

£

J Wilkinson

Balance outstanding at start of year

(299

)

15,223

Amounts advanced

34,258

1,642

Amounts repaid

(32,064

)

(17,164

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,895

(299

)

The loan made to J Wilkinson was unsecured and repayable on demand. Interest was paid at 4%.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £32,000 (2016 - £30,100) were paid to the director .

Remuneration and benefits paid to the directors during the year was £11,100 (2016 £10,700).