L & J Group Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01318906 (England and Wales)

Unaudited Financial Statements

For The Year Ended 30 June 2018

for

L & J Group Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M F Jull

Mr R E Jull

REGISTERED OFFICE:

8a Mulberry Green

Old Harlow

Essex

CM17 0ET

REGISTERED NUMBER:

01318906 (England and Wales)

ACCOUNTANTS:

Giess Wallis Crisp LLP

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

BANKERS:

HSBC

7B The Water Gardens

South Gate

Harlow

Essex

CM20 1AB

FIXED ASSETS

Tangible assets

4

180,088

185,950

Investments

5

20,615

20,615

200,703

206,565

CURRENT ASSETS

Stocks

6

36,954

54,244

Debtors

7

177,623

265,734

Cash at bank and in hand

15,056

18,101

229,633

338,079

CREDITORS

Amounts falling due within one year

8

295,441

241,525

NET CURRENT (LIABILITIES)/ASSETS

(65,808

)

96,554

TOTAL ASSETS LESS CURRENT LIABILITIES

134,895

303,119

CREDITORS

Amounts falling due after more than one year

9

(50,706

)

(69,323

)

PROVISIONS FOR LIABILITIES

11

(19,017

)

(19,078

)

NET ASSETS

65,172

214,718

CAPITAL AND RESERVES

Called up share capital

12

78

78

Revaluation reserve

13

91,463

94,966

Capital redemption reserve

13

49

49

Other reserves

13

296

296

Retained earnings

13

(26,714

)

119,329

SHAREHOLDERS' FUNDS

65,172

214,718

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 21 November 2018 and were signed on its behalf by:

Mr M F Jull - Director

1.	STATUTORY INFORMATION

L & J Group Services 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 as modified by the revaluation of certain assets.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from

other sources. The estimates and associated assumptions based on historical experience and other factors that

are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that

period, or in the period of the revision and future periods where the revision affects both current and future

periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to

the carrying amount of assets and liabilities

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and

liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis

or to realise the asset and settle the liability simultaneously.

Debtors

Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without

penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no

more than three months from the date of acquisition and that are readily convertible to known amounts of cash

with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

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 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.

Hire purchase and leasing commitments

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.

Investments

Investments are included at cost. Profits and losses arising from disposals of fixed assets investments are

treated as part of the result from ordinary activities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 July 2017

and 30 June 2018

195,000

5,121

4,043

204,164

DEPRECIATION

At 1 July 2017

10,833

4,540

2,841

18,214

Charge for year

5,417

145

300

5,862

At 30 June 2018

16,250

4,685

3,141

24,076

NET BOOK VALUE

At 30 June 2018

178,750

436

902

180,088

At 30 June 2017

184,167

581

1,202

185,950

Cost or valuation at 30 June 2018 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Valuation in 2004

93,308

-

-

93,308

Valuation in 2007

11,000

-

-

11,000

Valuation in 2016

(5,000

)

-

-

(5,000

)

Cost

95,692

5,121

4,043

104,856

195,000

5,121

4,043

204,164

If freehold land buildings had not been revalued they would have been included at the following historical cost:

2018

2017

£

£

Cost

95,692

95,692

Aggregate depreciation

32,534

30,620

Freehold land and buildings were valued on an open market basis on 30 June 2016 by GH Chartered Surveyors

.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2017

and 30 June 2018

20,615

NET BOOK VALUE

At 30 June 2018

20,615

At 30 June 2017

20,615

6.

STOCKS

2018

2017

£

£

Work-in-progress

36,954

54,244

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

99,584

66,129

Other debtors

78,039

199,605

177,623

265,734

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

83,376

39,851

Trade creditors

105,368

85,370

Taxation and social security

3,844

14,351

Other creditors

102,853

101,953

295,441

241,525

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

50,706

69,323

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

65,476

21,051

Bank loans

68,606

88,123

134,082

109,174

The bank overdraft is secured on a fixed charge on the property and a floating charge over the assets of the

company.

11.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

19,017

19,078

Deferred

tax

£

Balance at 1 July 2017

19,078

Credit to Income Statement during year

(61

)

Movement - revaluation reserve

Balance at 30 June 2018

19,017

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

78

Ordinary

£1

78

78

13.

RESERVES

Capital

Retained

Revaluation

redemption

Other

earnings

reserve

reserve

reserves

Totals

£

£

£

£

£

At 1 July 2017

119,329

94,966

49

296

214,640

Deficit for the year

(134,958

)

(134,958

)

Dividends

(14,588

)

(14,588

)

Excess depreciation adjustment

3,503

(3,503

)

-

-

-

At 30 June 2018

(26,714

)

91,463

49

296

65,094

14.	EXEMPTION FROM THE PREPARATION OF GROUP ACCOUNTS

These accounts present the information of the entity as an individual undertaking and not about its group.

The group is exempt from the preparation of group accounts as it qualifies as small.