Jw Budd Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10291666 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

Jw Budd Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J W Budd

SECRETARY:

REGISTERED OFFICE:

17 Machen Close

St. Mellons

Cardiff

CF3 0HE

REGISTERED NUMBER:

10291666 (England and Wales)

ACCOUNTANTS:

M Chilton Accountancy Services Limited

16 Reed Mace Drive

Bromsgrove

Worcestershire

B61 0UJ

FIXED ASSETS

Intangible assets

3

24,999

24,999

Tangible assets

4

27,970

8,574

52,969

33,573

CURRENT ASSETS

Debtors

5

11,808

10,357

Cash at bank

10,151

-

21,959

10,357

CREDITORS

Amounts falling due within one year

6

4,200

-

NET CURRENT ASSETS

17,759

10,357

TOTAL ASSETS LESS CURRENT LIABILITIES

70,728

43,930

CREDITORS

Amounts falling due after more than one year

7

70,628

43,830

NET ASSETS

100

100

CAPITAL AND RESERVES

Called up share capital

100

100

100

100

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 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 28 April 2020 and were signed by:

J W Budd - Director

1.	STATUTORY INFORMATION

Jw Budd 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

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.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2018

and 31 July 2019

24,999

NET BOOK VALUE

At 31 July 2019

24,999

At 31 July 2018

24,999

Intangible Fixed Assets relates to Initial Franchise Fee. Amortisation of this asset over it's useful life will

commence when the business commences trading.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

8,574

Additions

19,396

At 31 July 2019

27,970

NET BOOK VALUE

At 31 July 2019

27,970

At 31 July 2018

8,574

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Other debtors

11,808

10,357

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade creditors

4,200

-

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.19

31.7.18

£

£

Other creditors

70,628

43,830

Other creditors falling due after one year relates to amount owed to Director/Shareholder Jake Budd.