Jeremy Moore Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04381693 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2020

FOR

JEREMY MOORE ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J J Moore

SECRETARY:

Mrs N K Moore

REGISTERED OFFICE:

First Floor

46 Suffolk Road

Cheltenham

Gloucestershire

GL50 2AQ

REGISTERED NUMBER:

04381693 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,500

4,226

Investments

6

-

67,903

7,500

72,129

CURRENT ASSETS

Stocks

10,269

13,795

Debtors

7

99,177

143,661

Cash at bank and in hand

103,163

44,307

212,609

201,763

CREDITORS

Amounts falling due within one year

8

72,059

85,851

NET CURRENT ASSETS

140,550

115,912

TOTAL ASSETS LESS CURRENT LIABILITIES

148,050

188,041

PROVISIONS FOR LIABILITIES

1,425

2,441

NET ASSETS

146,625

185,600

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

146,525

185,500

SHAREHOLDERS' FUNDS

146,625

185,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 October 2020 and were signed by:

J J Moore - Director

1.	STATUTORY INFORMATION

Jeremy Moore Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

Turnover

Turnover represents net invoiced sales for the supply of services, excluding value added tax.

Sales are generated from the supply of surveying services and invoices are raised at interim points throughout a project, as well as at the end. As such, there is no or little work in progress at any month end period.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2002, has now been fully written off.

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.

Plant and machinery

-

Straight line over 3 years

Fixtures and fittings

-

15% on cost and 7.5% on cost

Computer equipment

-

Straight line over 3 years

Financial instruments

Financial Instruments are classified by the director as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement than can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2019

and 28 February 2020

14,000

AMORTISATION

At 1 March 2019

and 28 February 2020

14,000

NET BOOK VALUE

At 28 February 2020

-

At 28 February 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 March 2019

6,371

5,975

13,999

26,345

Additions

-

-

5,424

5,424

Disposals

-

-

(1,970

)

(1,970

)

At 28 February 2020

6,371

5,975

17,453

29,799

DEPRECIATION

At 1 March 2019

6,371

4,246

11,502

22,119

Charge for year

-

215

1,935

2,150

Eliminated on disposal

-

-

(1,970

)

(1,970

)

At 28 February 2020

6,371

4,461

11,467

22,299

NET BOOK VALUE

At 28 February 2020

-

1,514

5,986

7,500

At 28 February 2019

-

1,729

2,497

4,226

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 March 2019

67,903

Disposals

(67,903

)

At 28 February 2020

-

NET BOOK VALUE

At 28 February 2020

-

At 28 February 2019

67,903

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

87,744

68,978

Directors' loan accounts

-

66,649

Prepayments

11,433

8,034

99,177

143,661

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

101

Trade creditors

236

1,395

Corporation Tax

34,850

49,901

Social security and other taxes

(319

)

(334

)

VAT

33,194

28,922

Other creditors

895

2,826

Directors' loan accounts

539

-

Accrued expenses

2,664

3,040

72,059

85,851

9.	OTHER FINANCIAL COMMITMENTS

Financial commitment remaining £4,667 (2019: £8,621).

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2020 and 28 February 2019:

2020

2019

£

£

J J Moore

Balance outstanding at start of year

66,649

5,758

Amounts advanced

7,688

67,604

Amounts repaid

(74,876

)

(6,713

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(539

)

66,649

Interest is being charged on the loan to Mr J Moore at the HMRC approved rates and there are no set repayment terms.

11.	FIXED ASSET INVESTMENT

The investment was cashed in during the year, the market value of the investment as at the balance sheet date is therefore £nil, (2019 - £67,903). This is as per Standard Life.

The company invested £50,000 in an investment bond in an earlier year, which historically had been held at cost in the accounts. Upon transition to FRS102 the company was required to revalue the investment annually, and these movements in value are therefore followed for the tax treatment by way of non-trading loan relationship credits or debits.

The increase in value for previous years was recognised as an adjustment to brought forward reserves of £12,314 in the 2017 financial statements.

This adjustment is therefore taxable, but in accordance with SI 2004 No 3271, this credit is to be spread over a ten year period.

A credit of £1,231 is therefore liable to Corporation Tax this year, leaving £7,390 remaining to be spread over the following seven accounting periods.