JASS_NEWS_LTD - Accounts

JASS NEWS LTD - Company Information

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Company Registration No. 04810441 (England and Wales)

JASS NEWS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

JASS NEWS LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

JASS NEWS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

54,000

60,000

Tangible assets

3,227

6,922

57,227

66,922

Current assets

Stocks

12,650

16,550

Debtors

2,303

6,532

Cash at bank and in hand

1,867

2,452

16,820

25,534

Creditors: amounts falling due within one year

(86,162)

(79,342)

Net current liabilities

(69,342)

(53,808)

Total assets less current liabilities

(12,115)

13,114

Creditors: amounts falling due after more than one year

(5,758)

(14,275)

(17,873)

(1,161)

Capital and reserves

Called up share capital

100

Profit and loss account

(17,973)

(1,261)

Shareholders' funds

(17,873)

(1,161)

JASS NEWS LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2014

- 2 -

For the financial year ended 30 June 2014 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 March 2015

Mr Jasbir Singh

Director

Company Registration No. 04810441

JASS NEWS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern basis

The financial statements have been prepared on a going concern basis. The validity of this basis depends upon the continued financial support of the company’s bankers and directors, although there is no reason to suppose that this support will not continue. No adjustments have been made to the financial statements in respect of the possible invalidity of the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% Reducing balance

Motor vehicles

25% on cost

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 July 2013 & at 30 June 2014

120,000

42,153

162,153

Depreciation

At 1 July 2013

60,000

35,231

95,231

Charge for the year

6,000

3,695

9,695

At 30 June 2014

66,000

38,926

104,926

Net book value

At 30 June 2014

54,000

3,227

57,227

At 30 June 2013

60,000

6,922

66,922

JASS NEWS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 4 -

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100