J & A Clarkson Ltd - Accounts to registrar (filleted) - small 18.2

J & A CLARKSON LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

D Clarkson

A N Clarkson

SECRETARY:

Mrs J Clarkson

REGISTERED OFFICE:

Borderline Garage

Boghall Road

Biggar

ML12 6JJ

REGISTERED NUMBER:

SC540431 (Scotland)

ACCOUNTANTS:

JRW

Chartered Accountants

Riverside House

Ladhope Vale

Galashiels

Selkirkshire

TD1 1BT

CURRENT ASSETS

Cash at bank and in hand

126,289

145,065

CREDITORS

Amounts falling due within one year

4

126,404

145,100

NET CURRENT LIABILITIES

(115

)

(35

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(115

)

(35

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(119

)

(39

)

(115

)

(35

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 29th September 2020 and were signed on its behalf by:

D Clarkson - Director

1.	STATUTORY INFORMATION

J & A Clarkson Ltd is a private company, limited by shares , registered in Scotland. 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.

Going Concern

The accounts have been prepared on a going concern basis on the understanding that the loan from a

director will continue to be available for the foreseeable future to the amount that this requires and

will be postponed in favour of other creditors.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors and bank balances, are recognised at

transaction price. At the end of each reporting period financial assets measured at cost are assessed

for evidence of impairment. Any impairment loss is recognised in the Income Statement. Financial

assets are derecognised when the contractual rights to the cash flows from the asset expire or are

settled.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction

price.

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary

course of business from suppliers. These are classed as current liabilities as payment is due within one

year or less. If not they are presented as no-current liabilities. Financial liabilities are decolonised

when the liability is extinguished, that is when the contractual obligation id discharged, Cancelled or

expires.

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 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.	EMPLOYEES AND DIRECTORS

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

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

126,404

145,100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors' loan account was not in debit at any time during the year.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of J & A Clarkson Ltd for the year ended 31st March 2020 which comprise

the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of J & A Clarkson Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J & A Clarkson Ltd and state those matters that we have agreed to state to the Board of Directors of J & A Clarkson Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J & A Clarkson Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J & A Clarkson Ltd. You consider that J & A Clarkson Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J & A Clarkson Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JRW

Chartered Accountants

Riverside House

Ladhope Vale

Galashiels

Selkirkshire

TD1 1BT

29th September 2020