J Jennings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04431238 (England and Wales)

J JENNINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Jennings

Mrs C M Jennings

REGISTERED OFFICE:

424 Margate Road

Ramsgate

Kent

CT12 6SJ

REGISTERED NUMBER:

04431238 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

113,017

103,037

113,017

103,037

CURRENT ASSETS

Debtors

6

5,500

5,000

Cash at bank

8,588

3,433

14,088

8,433

CREDITORS

Amounts falling due within one year

7

(1,843

)

(2,231

)

NET CURRENT ASSETS

12,245

6,202

TOTAL ASSETS LESS CURRENT LIABILITIES

125,262

109,239

PROVISIONS FOR LIABILITIES

(2,117

)

-

NET ASSETS

123,145

109,239

CAPITAL AND RESERVES

Called up share capital

1,700

1,700

Share premium

59,320

59,320

Retained earnings

62,125

48,219

SHAREHOLDERS' FUNDS

123,145

109,239

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2020 and were signed on its behalf by:

J A Jennings - Director

Mrs C M Jennings - Director

1.	STATUTORY INFORMATION

J Jennings Limited is a private company, limited by shares, registered in England and Wales. The company's 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services provided, excluding value

added tax.

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

-

33% on cost

Financial instruments

Investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are measured at fair

value, where the shares are publicly traded or their fair value can otherwise be measured reliably.

All other such investments are measured at cost less any provision required to reflect impairment of value.

Changes in the carrying value of investments are recognised in the profit or loss for the year.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained

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

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2019

and 31 May 2020

666

DEPRECIATION

At 1 June 2019

and 31 May 2020

666

NET BOOK VALUE

At 31 May 2020

-

At 31 May 2019

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 June 2019

103,037

Additions

327,210

Disposals

(328,795

)

Revaluations

11,565

At 31 May 2020

113,017

NET BOOK VALUE

At 31 May 2020

113,017

At 31 May 2019

103,037

Cost or valuation at 31 May 2020 is represented by:

Other

investments

£

Valuation in 2020

113,017

If listed investments had not been revalued they would have been included at the following historical cost:

2020

2019

£

£

Cost

83,706

85,291

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

5,500

5,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

51

120

Other creditors

1,792

2,111

1,843

2,231