Jelthat Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01650175 (England and Wales)

JELTHAT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Harris

D A Evans

SECRETARY:

D A Evans

REGISTERED OFFICE:

Mazda House

Leeway Industrial Estate

Newport

NP19 4SL

REGISTERED NUMBER:

01650175 (England and Wales)

ACCOUNTANTS:

Green & Co

Chartered Certified Accountants

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

FIXED ASSETS

Tangible assets

4

617,459

637,391

CURRENT ASSETS

Stocks

1,646,788

1,561,278

Debtors

5

178,981

133,626

Cash at bank and in hand

149

15,257

1,825,918

1,710,161

CREDITORS

Amounts falling due within one year

6

2,262,365

2,129,894

NET CURRENT LIABILITIES

(436,447

)

(419,733

)

TOTAL ASSETS LESS CURRENT LIABILITIES

181,012

217,658

PROVISIONS FOR LIABILITIES

58,733

26,725

NET ASSETS

122,279

190,933

CAPITAL AND RESERVES

Called up share capital

8

44,100

44,100

Revaluation reserve

9

140,360

143,225

Retained earnings

(62,181

)

3,608

SHAREHOLDERS' FUNDS

122,279

190,933

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 27th September 2019 and were signed on its behalf by:

M Harris - Director

1.	STATUTORY INFORMATION

Jelthat 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.

Freehold property

-

2% on reducing balance for buildings

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance and 10% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

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

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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 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.

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 year was 19 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st January 2018

734,202

129,744

115,239

126,119

1,105,304

Additions

-

2,215

494

983

3,692

At 31st December 2018

734,202

131,959

115,733

127,102

1,108,996

DEPRECIATION

At 1st January 2018

206,750

86,900

63,971

110,292

467,913

Charge for year

6,891

6,583

7,764

2,386

23,624

At 31st December 2018

213,641

93,483

71,735

112,678

491,537

NET BOOK VALUE

At 31st December 2018

520,561

38,476

43,998

14,424

617,459

At 31st December 2017

527,452

42,844

51,268

15,827

637,391

The freehold property in the accounts was revalued by the directors on 31 December 1997 at £708,445. The

original cost was £493,910 and a revaluation reserve of £214,535 was created with the surplus. The directors

have taken advantage of the transitional provisions under FRS 102 Section 17 not to update the valuation.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

27,598

33,360

Other debtors

-

596

Directors' current accounts

43,326

37,553

Corporation tax repayable

3,512

-

VAT

66,706

1,914

Prepayments & accrued income

37,839

60,203

178,981

133,626

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

435,001

421,693

Trade creditors

1,706,545

1,593,940

Tax

-

12,337

Accruals and deferred income

120,819

101,924

2,262,365

2,129,894

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

435,001

420,168

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

40,100

Ordinary A

£1

40,100

40,100

4,000

Ordinary B

£1

4,000

4,000

44,100

44,100

9.

RESERVES

Revaluation

reserve

£

At 1st January 2018

143,225

Transfer from revaluation

reserve

(2,865

)

At 31st December 2018

140,360

10.	RELATED PARTY DISCLOSURES

At 31 December 2018 the company was owed £11,877 from the director M Harris (2017 : £17,981) and

£31,449 from the director D A Evans (2017: £19,572).

11.	GOING CONCERN

After reviewing the companies forecasts and projections, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. The company

therefore continues to adopt the going concern basis in preparing its financial statements.