Jollys Promotion Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI614856 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

Jollys Promotion Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S McQuaid

A McQuaid

SECRETARY:

REGISTERED OFFICE:

73 Lislasly Road

Moy

Dungannon

Co. Tyrone

BT71 6TB

REGISTERED NUMBER:

NI614856 (Northern Ireland)

ACCOUNTANTS:

WHR Accountants Ltd

Chartered Certified Accountants

Statutory Auditors

56 English Street

Armagh

Co. Armagh

BT61 7LG

FIXED ASSETS

Intangible assets

4

10,574

14,099

Tangible assets

5

10,214

11,348

20,788

25,447

CURRENT ASSETS

Stocks

-

1,500

Debtors

5,000

5,000

5,000

6,500

CREDITORS

Amounts falling due within one year

12,161

19,819

NET CURRENT LIABILITIES

(7,161

)

(13,319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,627

12,128

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

13,527

12,028

SHAREHOLDERS' FUNDS

13,627

12,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

A McQuaid - Director

1.	STATUTORY INFORMATION

Jollys Promotion Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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 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 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2018

and 31 October 2019

35,249

AMORTISATION

At 1 November 2018

21,150

Amortisation for year

3,525

At 31 October 2019

24,675

NET BOOK VALUE

At 31 October 2019

10,574

At 31 October 2018

14,099

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2018

and 31 October 2019

18,874

DEPRECIATION

At 1 November 2018

7,526

Charge for year

1,134

At 31 October 2019

8,660

NET BOOK VALUE

At 31 October 2019

10,214

At 31 October 2018

11,348