Jacob And Jacob Limited Accounts

JACOB AND JACOB LIMITED - Company Information






Jacob And Jacob Limited

	Company No. 09240304
		Information for Filing with The Registrar
		30 September 2018

at	30 September 2018
Company No.		09240304	Notes	2018	2017
				£	£






Current assets

	Debtors		2	3,897	-

	Cash at bank and in hand			36,077	17,402
				39,974	17,402
Creditors: Amount falling due within one year			3	(26,134)	(13,618)
Net current assets				13,840	3,784
Total assets less current liabilities				13,840	3,784




Net assets				13,840	3,784

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		4	13,839	3,783

Total equity				13,840	3,784


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 04 July 2019
And signed on its behalf by:
C. Jacob
Director

for the year ended 30 September 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2	Debtors
			2018	2017
			£	£
		Trade debtors	3,897	-







			3,897	-

3	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	2,012	-

		Corporation tax	7,825	7,711
		Other taxes and social security	5,360	4,476
		Loans from directors	9,766	501

		Accruals and deferred income	1,171	930
			26,134	13,618

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

5	Dividends
			2018	2017
			£	£
		Dividends for the period:
		Dividends paid in the period	15,000	22,000

			15,000	22,000

		Dividends by type:

		Equity dividends	15,000	22,000
			15,000	22,000

Additional information

Its registered number is:

09240304

Suite F8, Hartsbourne House

Carpenders Park

Watford

Herts

WD19 5EF