| JWN Consulting Ltd |
| Notes to the Accounts |
| for the year ended 31 July 2019 |
|
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover - Services |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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. |
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Tangible fixed assets |
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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: |
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Computer equipment |
33% Straight line |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
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Average number of persons employed by the company including paid directors and office holders |
|
1 |
|
1 |
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| 3 |
Tangible fixed assets |
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Equipment |
| £ |
|
Cost |
|
At 1 August 2018 |
2,072 |
|
Additions |
1,266 |
|
Disposals |
(2,071) |
|
At 31 July 2019 |
1,267 |
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Depreciation |
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At 1 August 2018 |
1,766 |
|
Charge for the year |
422 |
|
On disposals |
(1,766) |
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At 31 July 2019 |
422 |
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Net book value |
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At 31 July 2019 |
845 |
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At 31 July 2018 |
306 |
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| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
3,500 |
|
2,800 |
|
Other debtors |
1,033 |
|
1,309 |
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|
|
4,533 |
|
4,109 |
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Included within other debtors is a loan of £673 to Jackie Nderitu, the director of the company. The loan is interest free and is repayable on demand. |
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| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Corporation tax |
16,659 |
|
9,069 |
|
Other taxes and social security costs |
5,326 |
|
4,619 |
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|
|
|
21,985 |
|
13,688 |
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| 6 |
Controlling party |
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The company is controlled by Jackie Nderitu by virtue of her 100% shareholding. |
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| 7 |
Other information |
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JWN Consulting Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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The London Office |
|
40 Bloomsbury Way |
|
Lower Ground Floor |
|
London |
|
WC1A 2SE |
