Jedi Systems Consultancy Limited - Filleted accounts

Jedi Systems Consultancy Limited - Filleted accounts


Registered number
05777504
Jedi Systems Consultancy Limited
Filleted Accounts
30 April 2019
Jedi Systems Consultancy Limited
Registered number: 05777504
Balance Sheet
as at 30 April 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 3 1,530,899 1,521,680
Current assets
Debtors 4 12,000 107,922
Cash at bank and in hand 793,831 586,200
805,831 694,122
Creditors: amounts falling due within one year 5 (355,864) (311,544)
Net current assets 449,967 382,578
Net assets 1,980,866 1,904,258
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,980,864 1,904,256
Shareholders' funds 1,980,866 1,904,258
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J McKinnon
Director
Approved by the board on 17 October 2019
Jedi Systems Consultancy Limited
Notes to the Accounts
for the year ended 30 April 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2019 2018
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2018 1,521,680 3,074 1,524,754
Additions 8,553 999 9,552
At 30 April 2019 1,530,233 4,073 1,534,306
Depreciation
At 1 May 2018 - 3,074 3,074
Charge for the year - 333 333
At 30 April 2019 - 3,407 3,407
Net book value
At 30 April 2019 1,530,233 666 1,530,899
At 30 April 2018 1,521,680 - 1,521,680
4 Debtors 2019 2018
£ £
Trade debtors 12,000 107,922
5 Creditors: amounts falling due within one year 2019 2018
£ £
Trade creditors 166,567 85,378
Taxation and social security costs 56,822 82,454
Other creditors 132,475 143,712
355,864 311,544
6 Other information
Jedi Systems Consultancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Chantries House
38 Clifford Manor Road
Guildford
Surrey
GU4 8AQ
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