Company Registration No. 10711607 (England and Wales)
JAP MOTORS (SHEFFIELD) LIMITED
Unaudited accounts
for the year ended 30 April 2019
JAP MOTORS (SHEFFIELD) LIMITED
Statement of financial position
as at 30 April 2019
Tangible assets
2,303
2,937
Cash at bank and in hand
15,896
19,691
Creditors: amounts falling due within one year
(110,723)
(30,597)
Net current assets/(liabilities)
28,623
(561)
Total assets less current liabilities
30,926
2,376
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
30,703
2,102
Shareholders' funds
30,803
2,202
For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 17 September 2019.
Ejaz Ahmed
Director
Company Registration No. 10711607
JAP MOTORS (SHEFFIELD) LIMITED
Notes to the Accounts
for the year ended 30 April 2019
JAP MOTORS (SHEFFIELD) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10711607. The registered office is 356 CITY ROAD, SHEFFIELD, S2 1GA, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents net invoiced sale of goods, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Computer equipment
25% on reducing balance
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
JAP MOTORS (SHEFFIELD) LIMITED
Notes to the Accounts
for the year ended 30 April 2019
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2018
2,500
1,250
3,750
At 30 April 2019
2,500
1,250
3,750
Charge for the year
400
234
634
At 30 April 2019
900
547
1,447
At 30 April 2019
1,600
703
2,303
At 30 April 2018
2,000
937
2,937
Finished goods
123,450
8,345
7
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
13,751
6,759
Other creditors
68,175
23,306
8
Deferred taxation
2019
2018
Accelerated capital allowances
123
174
Provision at start of year
174
-
(Credited)/charged to the profit and loss account
(51)
174
Provision at end of year
123
174
JAP MOTORS (SHEFFIELD) LIMITED
Notes to the Accounts
for the year ended 30 April 2019
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2018: 1).
