J K Naturals Ltd - Filleted accounts

J K Naturals Ltd - Filleted accounts

JK NATURALS LIMITED - Company Information

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Registered number
08383951
J K Naturals Ltd
Filleted Accounts
31 May 2020
J K Naturals Ltd
Registered number: 08383951
Balance Sheet
as at 31 May 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 3 34,136 33,991
Current assets
Stocks 21,070 18,320
Debtors 4 19,373 25,310
Cash at bank and in hand 969 1,808
41,412 45,438
Creditors: amounts falling due within one year 5 (21,515) (7,896)
Net current assets 19,897 37,542
Net assets 54,033 71,533
Capital and reserves
Called up share capital 80,100 80,100
Profit and loss account (26,067) (8,567)
Shareholders' funds 54,033 71,533
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gerry Desler
Director
Approved by the board on 15 June 2020
J K Naturals Ltd
Notes to the Accounts
for the year ended 31 May 2020
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
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:
Leasehold land and buildings over the lease term
Plant and machinery 25% on costs
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2020 2019
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Website development Total
£ £ £ £
Cost
At 1 June 2019 18,122 40,378 - 58,500
Additions - 2,277 1,660 3,937
At 31 May 2020 18,122 42,655 1,660 62,437
Depreciation
At 1 June 2019 13,023 11,486 - 24,509
Charge for the year 720 2,832 240 3,792
At 31 May 2020 13,743 14,318 240 28,301
Net book value
At 31 May 2020 4,379 28,337 1,420 34,136
At 31 May 2019 5,099 28,892 - 33,991
4 Debtors 2020 2019
£ £
Trade debtors - 937
Other debtors 7,573 12,573
Rent deposit 11,800 11,800
19,373 25,310
5 Creditors: amounts falling due within one year 2020 2019
£ £
Bank loans and overdrafts 15,000 -
Trade creditors 5,182 5,947
Taxation and social security costs 1,333 1,949
21,515 7,896
6 Other information
J K Naturals Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Stonebridge House
Chelmsford Road
Hatfield Heath
Essex
CM23 7BD
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