Jet Engine Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06575684 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

JET ENGINE MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B W Licquorice

Mr S M Mermod

SECRETARY:

REGISTERED OFFICE:

7-8 Raleigh Walk

Brigantine Place

Cardiff

CF10 4LN

REGISTERED NUMBER:

06575684 (England and Wales)

ACCOUNTANT:

Linghams Chartered Accountants

(Lingham Accountancy Limited)

(Part of the Waterfront Accountancy Group Limited)

7-8 Raleigh Walk

Waterfront 2000

Brigantine Place

Cardiff

South Glamorgan

CF10 4LN

FIXED ASSETS

Tangible assets

4

4,085

4,947

CURRENT ASSETS

Debtors

5

170,009

111,223

Cash at bank and in hand

75,492

205,689

245,501

316,912

CREDITORS

Amounts falling due within one year

6

54,127

89,360

NET CURRENT ASSETS

191,374

227,552

TOTAL ASSETS LESS CURRENT LIABILITIES

195,459

232,499

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

195,359

232,399

SHAREHOLDERS' FUNDS

195,459

232,499

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 6 February 2019 and were signed on its behalf by:

Mr B W Licquorice - Director

1.	STATUTORY INFORMATION

Jet Engine Management 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 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.

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.

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 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

and 31 October 2018

5,944

DEPRECIATION

At 1 November 2017

997

Charge for year

862

At 31 October 2018

1,859

NET BOOK VALUE

At 31 October 2018

4,085

At 31 October 2017

4,947

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

166,229

103,392

Other debtors

3,780

7,831

170,009

111,223

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans and overdrafts

555

-

Trade creditors

21,659

4,164

Taxation and social security

26,702

81,771

Other creditors

5,211

3,425

54,127

89,360

7.	RELATED PARTY DISCLOSURES