Jainco (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05153185 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2017 TO 31 DECEMBER 2018

FOR

JAINCO (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V Jain

S K Jain

K Jain

SECRETARY:

V Jain

REGISTERED OFFICE:

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

REGISTERED NUMBER:

05153185 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

83,405

87,161

CURRENT ASSETS

Stocks

497,545

244,212

Debtors

5

1,390,548

2,106,738

Cash at bank and in hand

1,408,771

2,640,061

3,296,864

4,991,011

CREDITORS

Amounts falling due within one year

6

2,576,029

2,115,278

NET CURRENT ASSETS

720,835

2,875,733

TOTAL ASSETS LESS CURRENT LIABILITIES

804,240

2,962,894

CREDITORS

Amounts falling due after more than one year

7

-

(13,754

)

PROVISIONS FOR LIABILITIES

(12,694

)

(13,192

)

NET ASSETS

791,546

2,935,948

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

791,446

2,935,848

SHAREHOLDERS' FUNDS

791,546

2,935,948

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 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 24 September 2019 and were signed on its behalf by:

V Jain - Director

1.	STATUTORY INFORMATION

Jainco (UK) 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.

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.

Plant and machinery etc

-

15% 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

Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not

have any Other Financial Instruments as covered by Section 12 of FRS102.

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 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 balance sheet date.

Deferred tax

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2017 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2017

191,581

Additions

22,719

At 31 December 2018

214,300

DEPRECIATION

At 1 December 2017

104,420

Charge for period

26,475

At 31 December 2018

130,895

NET BOOK VALUE

At 31 December 2018

83,405

At 30 November 2017

87,161

5.

DEBTORS

31.12.18

30.11.17

£

£

Amounts falling due within one year:

Trade debtors

1,041,416

1,223,177

Other debtors

341,492

883,561

1,382,908

2,106,738

Amounts falling due after more than one year:

Other debtors & prepayments

7,640

-

Aggregate amounts

1,390,548

2,106,738

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

30.11.17

£

£

Bank loans and overdrafts

401,016

4,567

Trade creditors

64,032

36,706

Taxation and social security

116,430

198,870

Other creditors & accruals

1,994,551

1,875,135

2,576,029

2,115,278

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

30.11.17

£

£

Other creditors

-

13,754

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

30.11.17

value:

£

£

4

Ordinary shares

£1

100

100

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly

owned subsidiaries within the group.

During the year dividends of £81,463 (2017: £73,324) were paid to S K Jain, V Jain, K Jain and Mrs V Jain, the

shareholders of the company.

During the year dividends of £2,550,000 (2017: £NIL) were paid to Jain Group Holdings, a related party by virtue of

common control.

Included within other debtors is an amount of £7,640 owed to the directors of the company.

10.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party