Jon Jacobs Limited Filleted accounts for Companies House (small and micro)

JON JACOBS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04897698

Jon Jacobs Limited

Filleted Unaudited Abridged Financial Statements

31 December 2018

Jon Jacobs Limited

Abridged Statement of Financial Position

31 December 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	1,939	2,586

Current assets

Debtors	2,500	–
Cash at bank and in hand	4,503	10,516
	------	-------
	7,003	10,516

Creditors: amounts falling due within one year	26,278	31,566
	-------	-------
Net current liabilities	19,275	21,050
	-------	-------
Total assets less current liabilities	( 17,336)	( 18,464)
	-------	-------
Net liabilities	( 17,336)	( 18,464)
	-------	-------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 17,337)	( 18,465)
	-------	-------
Shareholders deficit	( 17,336)	( 18,464)
	-------	-------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Jon Jacobs Limited

Abridged Statement of Financial Position (continued)

31 December 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 23 August 2019 , and are signed on behalf of the board by:

Mr J S G Jacobs
Director

Company registration number: 04897698

Jon Jacobs Limited

Notes to the Abridged Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Broomgrove Road, Sheffield, S10 2LR.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the amount derived from ordinary activities.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Tangible assets

	£
Cost
At 1 January 2018 and 31 December 2018	26,673
	-------
Depreciation
At 1 January 2018	24,087
Charge for the year	647
	-------
At 31 December 2018	24,734
	-------
Carrying amount
At 31 December 2018	1,939
	-------
At 31 December 2017	2,586
	-------

6. Related party transactions

At the balance sheet date £12,523 (2017: £22,098) was owed to the director. This amount is included within other creditors.