Joseph James Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05110720 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 MAY 2019 TO 31 MARCH 2020

FOR

JOSEPH JAMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms D Shilling

REGISTERED OFFICE:

49

St. Andrews Road

Bridport

Dorset

DT6 3BJ

REGISTERED NUMBER:

05110720 (England and Wales)

FIXED ASSETS

Tangible assets

4

173

231

CURRENT ASSETS

Debtors

5

2,712

6,635

Cash at bank

4,843

1,527

7,555

8,162

CREDITORS

Amounts falling due within one year

6

7,615

8,729

NET CURRENT LIABILITIES

(60

)

(567

)

TOTAL ASSETS LESS CURRENT LIABILITIES

113

(336

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

111

(338

)

SHAREHOLDERS' FUNDS

113

(336

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2020 and were signed by:

Ms D Shilling - Director

1.	STATUTORY INFORMATION

Joseph James Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover

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

value added tax and other sales taxes.

Turnover is recognised when the service has been provided.

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

-

25% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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 period was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2019

and 31 March 2020

4,753

DEPRECIATION

At 1 May 2019

4,522

Charge for period

58

At 31 March 2020

4,580

NET BOOK VALUE

At 31 March 2020

173

At 30 April 2019

231

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

2,712

6,635

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

5,761

5,400

Other creditors

1,854

3,329

7,615

8,729

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2020 and the year

ended 30 April 2019:

2020

2019

£

£

Ms D Shilling

Balance outstanding at start of period

6,635

4,747

Amounts advanced

34,455

36,860

Amounts repaid

(38,378

)

(34,972

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

2,712

6,635

Loans are interest free and repayable on demand.