Jack Tar Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08489704 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018

FOR

Jack Tar Ltd

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Director:

N Cash

Registered office:

Abacus House

129 North Hill

Plymouth

Devon

PL4 8JY

Business address:

7 College View

Plymouth

Devon

PL3 4JB

Registered number:

08489704 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

4

2,239

2,871

Current assets

Debtors

5

10,463

246

Cash at bank

93,599

117,142

104,062

117,388

Creditors

Amounts falling due within one year

6

109,030

128,092

Net current liabilities

(4,968

)

(10,704

)

Total assets less current liabilities

(2,729

)

(7,833

)

Capital and reserves

Called up share capital

7

100

100

Retained earnings

(2,829

)

(7,933

)

Shareholders' funds

(2,729

)

(7,833

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 28 January 2019 and were signed by:

N Cash - Director

1.	STATUTORY INFORMATION

Jack Tar Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration 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 goods have transferred to the buyer. Turnover from the

rendering of services is recognised by the reference to the stage of completion of the

contact. The stage of completion of a contact is measured by comparing the costs incurred

for work performed to date to the total estimated contract costs.

Tangible fixed assets

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

Equipment

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit &

Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

Cost

At 1 May 2017

4,686

Additions

2,509

Disposals

(4,297

)

At 30 April 2018

2,898

Depreciation

At 1 May 2017

1,815

Charge for year

600

Eliminated on disposal

(1,756

)

At 30 April 2018

659

Net book value

At 30 April 2018

2,239

At 30 April 2017

2,871

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

10,463

246

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

708

440

Other creditors

108,322

127,652

109,030

128,092

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary shares

£1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company was owed £105,822 by it's director.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Cash.