Jennings Design Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04090668 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2019

for

Jennings Design Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Jennings

P Stanworth

REGISTERED OFFICE:

York House

Valley Court

Canal Road

Bradford

Lancashire

BD1 4SP

REGISTERED NUMBER:

04090668 (England and Wales)

ACCOUNTANTS:

FS Accountants Limited

44 York Street

Clitheroe

Lancashire

BB7 2DL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

16,071

17,883

16,071

17,883

CURRENT ASSETS

Stocks

20,650

20,650

Debtors

178,212

191,280

Cash at bank and in hand

43,029

46,489

241,891

258,419

CREDITORS

Amounts falling due within one year

155,608

180,735

NET CURRENT ASSETS

86,283

77,684

TOTAL ASSETS LESS CURRENT LIABILITIES

102,354

95,567

PROVISIONS FOR LIABILITIES

2,852

3,152

NET ASSETS

99,502

92,415

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Retained earnings

98,402

91,315

SHAREHOLDERS' FUNDS

99,502

92,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 December 2019 and were signed on its behalf by:

N J Jennings - Director

1.	STATUTORY INFORMATION

Jennings Design Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The company has net current liabilities. It

is the director's opinion that going concern is the appropriate basis to use.

If the going concern basis were not appropriate, adjustments would have been made to reduce the value of the

assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed

assets as current assets and long term liabilities as current liabilities.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

and 31 July 2019

200,000

AMORTISATION

At 1 August 2018

and 31 July 2019

200,000

NET BOOK VALUE

At 31 July 2019

-

At 31 July 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

70,020

Additions

1,025

At 31 July 2019

71,045

DEPRECIATION

At 1 August 2018

52,137

Charge for year

2,837

At 31 July 2019

54,974

NET BOOK VALUE

At 31 July 2019

16,071

At 31 July 2018

17,883

6.

CONTROL

The company is under the control of the director, NJ Jennings, and his wife, Mrs K Jennings, as they own the

majority of the share capital.