J & B Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11092789 (England and Wales)

Unaudited Financial Statements

for the Period 1 December 2017 to 31 December 2018

for

J & B DEVELOPMENTS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

B R Latreuille

J S L Mobbs

REGISTERED OFFICE:

c/o Rostrons

Yare House

62-64 Thorpe Road

Norwich

Norfolk

NR1 1RY

REGISTERED NUMBER:

11092789 (England and Wales)

ACCOUNTANTS:

Rostrons

Chartered Accountants

Yare House

62-64 Thorpe Road

Norwich

Norfolk

NR1 1RY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of J & B Developments Limited for the period ended 31 December 2018 which comprise the

Income Statement, Statement of Financial Position and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of J & B Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J & B Developments Limited and state those matters that we have agreed to state to the Board of Directors of J & B Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J & B Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J & B Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J & B Developments Limited. You consider that J & B Developments Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of J & B Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rostrons

Chartered Accountants

Yare House

62-64 Thorpe Road

Norwich

Norfolk

NR1 1RY

24 June 2019

CURRENT ASSETS

Inventories

450,000

Cash at bank

835,605

1,285,605

CREDITORS

Amounts falling due within one year

4

1,224,782

NET CURRENT ASSETS

60,823

TOTAL ASSETS LESS CURRENT LIABILITIES

60,823

CAPITAL AND RESERVES

Called up share capital

150

Retained earnings

60,673

60,823

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 24 June 2019 and were signed on its behalf by:

B R Latreuille - Director

J S L Mobbs - Director

1.	STATUTORY INFORMATION

J & B Developments 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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, and represents amounts

receivable for properties supplied net of discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of properties is recognised when significant risks and rewards of ownership of the goods

have substantially transferred to the buyer upon the completion of sale of the property.

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance of obsolete and

slow moving items.

Cost is measured on a standard cost basis and includes purchase price and other costs incurred in bringing the

inventories to their current location and condition.

Taxation

Taxation for the period 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 tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted

or substantively enacted by the statement of financial position date.

Taxation

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

statement of financial position 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 period 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.

Financial instruments

Short-term debtors are measured at transaction price, less any impairment. The impairment loss is measured

as the difference between an asset's carrying value and the best estimate of the amount that the company

would receive for the asset if it were to be sold at the reporting date.

Short-term trade creditors are measured at the transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised

cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

14,232

Other creditors

1,210,550

1,224,782

5.	RELATED PARTY DISCLOSURES

Directors

During the year the company benefited from loans from the directors which were unsecured, interest-free and

had no fixed repayment terms.

£

Amount due to related party at the balance sheet date

1,159,850