JNR Communications Limited - Filleted accounts

JNR Communications Limited - Filleted accounts


Registered number
09456386
JNR Communications Limited
Report and Accounts
31 December 2016
JNR Communications Limited
Registered number: 09456386
Balance Sheet
as at 31 December 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,638 208
Current assets
Debtors 3 630 990
Creditors: amounts falling due within one year 4 (2,198) (650)
Net current (liabilities)/assets (1,568) 340
Net assets 70 548
Capital and reserves
Called up share capital 100 100
Profit and loss account (30) 448
Shareholder's funds 70 548
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms J Rosen
Director
Approved by the board on 9 February 2018
JNR Communications Limited
Notes to the Accounts
for the year ended 31 December 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A small entities, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2016 277
Additions 1,999
At 31 December 2016 2,276
Depreciation
At 1 January 2016 69
Charge for the year 569
At 31 December 2016 638
Net book value
At 31 December 2016 1,638
At 31 December 2015 208
3 Debtors 2016 2015
£ £
Directors loan account 630 990
4 Creditors: amounts falling due within one year 2016 2015
£ £
Corporation tax 98 -
Accruals 2,100 650
2,198 650
5 Related party transactions
Apart from the out of pocket expenses paid to the director and shareholder there are no other related party transactions as are required to be disclosed under the financial reporting standards for smaller entities.
The amount owed from the director and shareholder at the year end is £630.
6 Controlling party
The ultimate controlling party is Ms J Rosen, the shareholder and director of the company.
7 Other information
JNR Communications Limited is a private company limited by shares and incorporated in England. Its registered office is:
Flat 1
15 Mount Pleasant Hill
London
E5 9NB
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out above. These policies have been consistently applied to all years presented.
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