J & C ASSOCIATES LIMITED Filleted accounts for Companies House (small and micro)

J & C ASSOCIATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03162355

J & C ASSOCIATES LIMITED

Filleted Unaudited Financial Statements

28 February 2019

J & C ASSOCIATES LIMITED

Statement of Financial Position

28 February 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5	9,302	9,862
Investments	6	6	–
		-------	-------
		9,308	9,862

Current assets

Debtors	7	2,099,930	1,942,006
Cash at bank and in hand		757,218	640,868
		------------	------------
		2,857,148	2,582,874

Creditors: amounts falling due within one year	8	1,691,081		1,495,148
		------------		------------
Net current assets			1,166,067	1,087,726
			------------	------------
Total assets less current liabilities			1,175,375	1,097,588
			------------	------------
Net assets			1,175,375	1,097,588
			------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	1,175,373	1,097,586
	------------	------------
Shareholders funds	1,175,375	1,097,588
	------------	------------

These 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 statement of income and retained earnings has not been delivered.

For the year ending 28 February 2019 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 financial statements for the year in question in accordance with section 476 ;

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

J & C ASSOCIATES LIMITED

Statement of Financial Position (continued)

28 February 2019

These financial statements were approved by the board of directors and authorised for issue on 29 November 2019 , and are signed on behalf of the board by:

J E Barlay
Director

Company registration number: 03162355

J & C ASSOCIATES LIMITED

Notes to the Financial Statements

Year ended 28 February 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tudor House, Llanvanor Road, Finchley Road, London, NW2 2AQ.

2. Statement of compliance

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised when the amount can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Website costs	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 26 (2018: 23 ).

5. Tangible assets

	Website cost	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 March 2018	5,000	24,633	55,754	85,387
Additions	–	–	2,520	2,520
	-------	--------	--------	--------
At 28 February 2019	5,000	24,633	58,274	87,907
	-------	--------	--------	--------
Depreciation
At 1 March 2018	4,646	22,870	48,009	75,525
Charge for the year	88	441	2,551	3,080
	-------	--------	--------	--------
At 28 February 2019	4,734	23,311	50,560	78,605
	-------	--------	--------	--------
Carrying amount
At 28 February 2019	266	1,322	7,714	9,302
	-------	--------	--------	--------
At 28 February 2018	354	1,763	7,745	9,862
	-------	--------	--------	--------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 March 2018	–
Additions	6
	----
At 28 February 2019	6
	----
Impairment
At 1 March 2018 and 28 February 2019	–
	----

Carrying amount
At 28 February 2019	6
	----
At 28 February 2018	–
	----

7. Debtors

	2019	2018
	£	£
Trade debtors	1,767,714	1,692,070
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11,516	–
Other debtors	320,700	249,936
	------------	------------
	2,099,930	1,942,006
	------------	------------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	–	1,190
Trade creditors	1,582,922	1,392,106
Corporation tax	91,592	86,163
Social security and other taxes	1,063	337
Other creditors	15,504	15,352
	------------	------------
	1,691,081	1,495,148
	------------	------------

9. Director's advances, credits and guarantees

At the balance sheet date the total amount due to the director is £504 (2018-£952)

10. Related party transactions

The company was under the control of the director, Mrs J Barlay who beneficially owns the entire issued share capital of the company.