J J Site Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC330966 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

J J Site Services Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W Boyd

Mr J Currie

SECRETARY:

Mrs R Currie

REGISTERED OFFICE:

71 Lithgow Drive

Clelland

Lanarkshire

ML1 5AD

REGISTERED NUMBER:

SC330966 (Scotland)

ACCOUNTANTS:

Turner Accountancy Ltd

101 Park Street

Motherwell

ML1 1PF

CURRENT ASSETS

Stocks

3,600

3,600

Debtors

5

64,900

76,686

Cash at bank and in hand

95,175

55,169

163,675

135,455

CREDITORS

Amounts falling due within one year

6

133,426

119,253

NET CURRENT ASSETS

30,249

16,202

TOTAL ASSETS LESS CURRENT LIABILITIES

30,249

16,202

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

30,149

16,102

30,249

16,202

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

The members have not required the company to obtain an audit of its financial statements for the year 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 applicable to companies subject to the small companies regime.

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 9 September 2019 and were signed on its behalf by:

Mr J Currie - Director

1.	STATUTORY INFORMATION

J J Site Services Limited is a private company, limited by shares , registered in Scotland.

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements,

estimates and assumptions that affect the amounts reported.

These estimates and judgements are continually reviewed and are based on experience and

other factors, including expectations of future events that are believed to be reasonable

under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the

process of applying the entity's accounting policies and that have the most significant effect

on the amounts recognised in the financial statements are as follows:

The company has elected to use its most recent revaluation of its property as its deemed

cost as at the date of transition to FRS 102 and no further adjustment will be required.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature,

will rarely equal the related actual outcome.

The key assumptions and other sources of estimation uncertainty that have a significant risk

of causing a material adjustment to the carrying amounts of assets and liabilities within the

next financial year are as follows:

The company has made estimates when accounting for various provisions such as bad

debts or stock provisions. These estimates are a reflection of what the company believes to

be realistic at that given time.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Stocks

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

for obsolete and slow moving items.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a

residual interest in the assets of the entity after deducting all of its financial liabilities.

Financial assets that are measured at cost and amortised cost are assessed at the end of

each reporting period for objective evidence of impairment. If objective evidence of

impairment is found, an impairment loss is recognised in the Income statement.

Financial assets and liabilities are offset and the net amount reported in the Statement of

financial position when there is an enforceable right to set off the recognised amounts and

there is an intention to settle on a net basis or to realise the asset and settle the liability

simultaneously.

Debt instruments (other than those wholly repayable or receivable within one year), including

loans and other accounts receivable and payable, are initially measured at present value of

the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade payables or

receivables, are measured, initially and subsequently, at the undiscounted amount of the

cash or other consideration expected to be paid or received. However if the arrangements of

a short-term instrument constitute a financing transaction, like the payment of a trade debt

deferred beyond normal business terms or financed at a rate of interest that is not a market

rate or in case of an out-right short-term loan not at market rate, the financial asset or liability

is measured, initially, at the present value of the future cash flow discounted at a market rate

of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Taxation for the year 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 or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2018

and 31 December 2018

973

DEPRECIATION

At 1 January 2018

and 31 December 2018

973

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

64,436

76,255

Prepayments and accrued income

464

431

64,900

76,686

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

97,280

77,235

Tax

7,141

7,309

VAT

2,298

1,202

Directors' loan accounts

24,707

30,017

Accrued expenses

2,000

3,490

133,426

119,253

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 December 2018 and 31 December 2017:

31.12.18

31.12.17

£

£

Mr J Currie

Balance outstanding at start of year

29,053

28,004

Amounts advanced

17,330

23,154

Amounts repaid

(24,018

)

(22,105

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,365

29,053

Mr W Boyd

Balance outstanding at start of year

964

383

Amounts advanced

11,856

11,789

Amounts repaid

(11,577

)

(11,208

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,243

964