Jennery Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01218007 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2019

FOR

JENNERY ASSOCIATES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

6,148

5,214

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

6

68,511

64,014

Cash in hand

354

-

78,865

74,014

CREDITORS

Amounts falling due within one year

7

135,756

123,028

NET CURRENT LIABILITIES

(56,891

)

(49,014

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,743

)

(43,800

)

CAPITAL AND RESERVES

Called up share capital

9

9

9

Capital redemption reserve

7

7

Retained earnings

(50,759

)

(43,816

)

SHAREHOLDERS' FUNDS

(50,743

)

(43,800

)

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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2020 and were signed on its behalf by:

Mr B A Nelson - Director

Mr V P Johnson - Director

Mr M Evans - Director

1.	STATUTORY INFORMATION

Jennery Associates Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address are as below:

Registered number:

01218007

Registered office:

48 St Leonards Road

Bexhill on Sea

East Sussex

TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis notwithstanding the net liability

currently shown on the balance sheet. The directors, who are major creditors, have

confirmed their intention to support the company for at least the next 12 months.

In addition, the company has prepared these accounts on a going concern basis, although

there are material uncertainties in respect of COVID-19. The management have taken into

consideration the existing and potential effects of coronavirus on the activities of the

business in the future.

Turnover

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

excluding discounts, rebates, value added tax and other sales taxes.

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

-

15% on reducing balance

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

All fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit

and Loss Account, 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences

a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classed as financial

liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs

and gains or losses relating to financial liabilities are included in the profit and loss account.

Finance costs are calculated so as to produce a constant rate of return on the outstanding

liability.

Where the contractual terms of share capital do not have any terms meeting the definition

of a financial liability then this is classed as an equity instrument. Dividends and

distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2018

12,716

5,230

17,648

1,890

37,484

Additions

2,548

-

-

-

2,548

At 31 July 2019

15,264

5,230

17,648

1,890

40,032

DEPRECIATION

At 1 August 2018

11,945

5,230

13,212

1,883

32,270

Charge for year

498

-

1,109

7

1,614

At 31 July 2019

12,443

5,230

14,321

1,890

33,884

NET BOOK VALUE

At 31 July 2019

2,821

-

3,327

-

6,148

At 31 July 2018

771

-

4,436

7

5,214

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

64,143

62,623

Directors' current accounts

-

3

Prepayments and accrued income

4,368

1,388

68,511

64,014

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

4,267

8,850

Trade creditors

27,808

18,934

PAYE and social security

4,775

3,006

VAT

19,131

22,809

Other creditors

761

324

Former directors' current accounts

11,315

11,315

Directors' current accounts

64,648

55,090

Accruals and deferred income

3,051

2,700

135,756

123,028

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

4,200

-

Between one and five years

12,600

-

16,800

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

9

Ordinary

£1

9

9

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 July 2019 and 31 July 2018:

2019

2018

£

£

Mr M Evans

Balance outstanding at start of year

3

-

Amounts advanced

100

3

Amounts repaid

(103

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3

The loan to the director was interest free and repayable on demand.