JAL Scotland Limited - Accounts to registrar (filleted) - small 18.2
JAL Scotland Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
JAL SCOTLAND LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
JAL SCOTLAND LIMITED (REGISTERED NUMBER: SC452804) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
JAL SCOTLAND LIMITED (REGISTERED NUMBER: SC452804) |
BALANCE SHEET |
31 MARCH 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director on |
JAL SCOTLAND LIMITED (REGISTERED NUMBER: SC452804) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
1. | STATUTORY INFORMATION |
JAL Scotland Limited is a private company, limited by shares, registered in Scotland. The registered office is 11 |
Guardwell Crescent, Edinburgh, EH17 7JA. |
The financial statements are presented in Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial |
statements have been prepared under the historical cost convention. |
Judgements |
The company considers on an annual basis the judgements that are made by management when applying its |
significant accounting policies that would have the most significant effect on amounts that are recognised in the |
financial statements. The director considers there are no such significant judgements. |
Turnover |
Turnover represents the net invoice value of services provided during the year. The company's policy is to |
recognise a sale when substantively all risks and rewards in connection with the services have been passed to the |
customer. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Impairment of non-financial assets |
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and |
equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an |
indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value |
less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the |
carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised |
immediately in profit and loss. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable and loans to related parties. |
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of |
the future payments and subsequently at amortised cost using the effective interest method. Debt instruments |
that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially |
and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. |
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence |
of impairment and if found, an impairment loss is recognised in profit or loss. |
JAL SCOTLAND LIMITED (REGISTERED NUMBER: SC452804) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is |
calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
respect of all timing differences that have originated but not reversed at the balance sheet date. However, |
deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that |
there will be suitable taxable profits from which the future reversal of the underlying timing differences can be |
deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in |
the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted |
at the balance sheet date. |
With the exception of changes arising on the initial recognition of a business combination, the tax expense is |
presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the |
transaction that resulted in the tax expense. |
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
Operating lease commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Investments |
Investments represent a shareholding in an unquoted associated company. These are stated at the lower of cost or |
where the difference is material, net asset value. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a |
result of a past event, it is probable that the company will be required to settle the obligation and the amount of |
the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to |
settle the obligation at the reporting date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
DEPRECIATION |
At 1 April 2018 |
and 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
JAL SCOTLAND LIMITED (REGISTERED NUMBER: SC452804) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
At 1 April 2018 |
Additions |
At 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Taxation and social security |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
At the year end, the company owed the director, £10,899 (2018: £3,443). This amount is interest free, unsecured |
and repayable on demand. |
9. | OPERATING LEASE AGREEMENTS |
At the year end the company had operating lease commitments outstanding totalling £Nil (2018 £1,564). |