| JJLF Limited |
| Notes to the Accounts |
| for the year ended 30 August 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
3 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price, which is usually the invoice price. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery |
| £ |
|
Cost |
|
At 31 August 2017 |
2,428 |
|
At 30 August 2018 |
2,428 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 August 2017 |
1,995 |
|
Charge for the year |
216 |
|
At 30 August 2018 |
2,211 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 August 2018 |
217 |
|
At 30 August 2017 |
433 |
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
- |
|
112,572 |
|
Other debtors |
330,884 |
|
65,904 |
|
|
|
|
|
|
330,884 |
|
178,476 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
- |
|
14,945 |
|
Corporation tax |
1,632 |
|
1,632 |
|
Other taxes and social security costs |
2,020 |
|
555 |
|
Other creditors |
3,746 |
|
2,033 |
|
|
|
|
|
|
7,398 |
|
19,165 |
|
|
|
|
|
|
|
|
|
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| 6 |
Controlling party |
|
|
The company is controlled by the director who owns 100% of the issued share capital. |
|
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| 7 |
Other information |
|
|
JJLF Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
31 Stallard Street |
|
Trowbridge |
|
Wiltshire |
|
BA14 9AA |
