Contents of the Financial Statements
for the Period Ended 31 March 2018
Balance sheet
As at 31 March 2018
|
Notes |
5 months to 31 March 2018 |
|
|
£ |
| Fixed assets |
| Tangible assets: | 2 | 11,909 |
| Total fixed assets: | | 11,909 |
| Current assets |
| Stocks: | | 76,178 |
| Debtors: | | 13,736,806 |
| Cash at bank and in hand: | | 545,191 |
| Total current assets: | | 14,358,175 |
| Creditors: amounts falling due within one year: | | (1,875,871) |
| Net current assets (liabilities): | | 12,482,304 |
| Total assets less current liabilities: | | 12,494,213 |
| Creditors: amounts falling due after more than one year: | | (1,591,539) |
| Total net assets (liabilities): | | 10,902,674 |
| Capital and reserves |
| Called up share capital: | | 10,000,000 |
| Share premium account: | | 991,944 |
| Revaluation reserve: | 3 | 342,543 |
| Other reserves: | | 342,543 |
| Profit and loss account: | | (774,356) |
| Shareholders funds: | | 10,902,674 |
The notes form part of these financial statements
Balance sheet statements
For the year ending 31 March 2018 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit & loss account.
This report was approved by the board of directors on 02 August 2019
and signed on behalf of the board by:
Name: SYMES, Darren
Status: Director
The notes form part of these financial statements
Notes to the Financial Statements
for the Period Ended 31 March 2018
1. Accounting policies
INDEPENDENT AUDITORS’ REPORTTO THE MEMBERS OF JSC - JUERGEN FITSCHEN & CO. LTDWe have audited the group annual accounts of JSC - JUERGEN FITSCHEN & CO. LTD on pages 5 to 11 for the year ended 31 March 2018. These group annual accounts have been prepared under the historical cost convention and the accounting policies set out therein.Respective responsibilities of the directors and auditorsThe company’s directors are responsible for the preparation of the group annual in accordance with applicable law and United Kingdom Accounting Standards.Our responsibility is to audit the group annual accounts in accordance with relevant legal and regulatory requirements and United Kingdom Auditing Standards.This report is made solely to the company’s members, as a body, in accordance with Section 235 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 2006. We also report to you if, in our opinion, the directors’ report is not consistent with the financial statements, if the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors’ remuneration and transactions with the company is not disclosed.We read the directors’ report and consider the implications for our report if we become aware of any apparent misstatements within it.Basis of audit opinionWe conducted our audit in accordance with United Kingdom Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the directors in the preparation of the financial statements, and of whether the accounting policies are appropriate to the company’s circumstances, consistently applied and adequately disclosed.We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. JSC - JUERGEN FITSCHEN & CO. LTDINDEPENDENT AUDITORS’ REPORT (continued)TO THE MEMBERS OF JSC - JUERGEN FITSCHEN & CO. LTDOpinionIn our opinion the financial statements give a trim and fair view of the state of the company’s affairs as at 31 December 2018 and of its profit for the year then ended and have been properly prepared in accordance with the Companies Act 2006.Teed & CompanyChartered Professional Accountants Notes to the Financial Statements
for the Period Ended 31 March 2018
2. Tangible Assets
| Total |
| Cost | £ |
| Additions | 11,909 |
| At 31 March 2018 | 11,909 |
| Net book value | |
| At 31 March 2018 | 11,909 |
Notes to the Audited Abridged Accounts for the period ended 31 March 20181.Basis of measurement and preparation of accountsThese special purpose financial statements and accompanying notes have been prepared for use by the director and members of the company. The director has determined that the company is not a reporting entity. The special purpose financial statements have been prepared in accordance with the requirements of the following International Accounting Standards Board(IASB);APES 15; Compilation of Financial Information IASB; InventoriesNo other applicable International Accounting Standards Board (IASB), Urgent Issues Group Consensus Views or other authoratative pronouncments of the International Accounting Standards Board (IASB) have been applied.The special purpose financial statements is prepared on an accrual basis and is based on historic costs and not ta ke into account changing money values except that the years 2014 through 2015 were converted to USD from a basket of currencies at the exchange rate in force on the year end date. Except where specifically stated, non current assets are based on their current valuations.The following specific accounting policies, which are consistent with the previous period unless otherwise stated, have been adopted in the preparation of these financial statements. In preparing the financial statements, management makes estimates and assumptions that affect the amounts presented in the financial statements and related disclosures. Use of available information and the application of judgement is inherent in the formation of estimates. Actual results in the future could differ from these estimates which may be material to the annual financial statements. Significant judgements include : provision for doubtful debts, bonus provision, leave provision, useful lives and depreciation methods and asset impairment. Notes relating to the subject are included under the affected areas of the financial statements.2.Turnover policySales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the JSC - JUERGEN FITSCHEN & CO. LTD's activities. Sales are presented, net of value-added tax, rebates and discounts, and after eliminating sales within the JSC - JUERGEN FITSCHEN & CO. LTD.JSC - JUERGEN FITSCHEN & CO. LTD recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the JSC - JUERGEN FITSCHEN & CO. LTD's activities are met. JSC - JUERGEN FITSCHEN & CO. LTD's main activity was the wholesale of animal skins, meat, animal proteins, animal feeds and live animals. Revenue recognition policy for each principal activity is required to be disclosed and the disclosure should be tailored to the entity's specific revenue sources and terms of business so as to provide the readers with information for a proper understanding of the policies.3.Tangible assets depreciation policyNegligible tangible assets to be reported.
Notes to the Financial Statements
for the Period Ended 31 March 2018
3. Revaluation reserve
| 5 months to 31 March 2018 |
| £ |
| Surplus or deficit after revaluation | 342,543 |
| Balance at 31 March 2018 | 342,543 |
