J.A.C. Launderette Co. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00754352 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

J.A.C. LAUNDERETTE CO. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M G Ioannou

SECRETARY:

H Camenzuli

REGISTERED OFFICE:

19 Montpelier Avenue

Bexley

Kent

DA5 3AP

REGISTERED NUMBER:

00754352 (England and Wales)

ACCOUNTANTS:

Robsons Accountants

19 Montpelier Avenue

Bexley

Kent

DA5 3AP

FIXED ASSETS

Tangible assets

4

1,810

2,413

CURRENT ASSETS

Cash at bank

7,912

-

CREDITORS

Amounts falling due within one year

5

(29,980

)

(32,766

)

NET CURRENT LIABILITIES

(22,068

)

(32,766

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,258

)

(30,353

)

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

(30,258

)

(40,353

)

SHAREHOLDERS' FUNDS

(20,258

)

(30,353

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 January 2021 and were signed by:

M G Ioannou - Director

1.	STATUTORY INFORMATION

J.A.C. Launderette Co. 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.

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 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.

Going concern

We have assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. This assessment has been required in light of the significant uncertainty around the short to medium term impact of the Covid-19 virus.

At the time of approving the financial statements the directors believe that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next twelve months and therefore conclude that the going concern basis remains appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 May 2019

and 30 April 2020

41,178

8,426

49,604

DEPRECIATION

At 1 May 2019

39,226

7,965

47,191

Charge for year

488

115

603

At 30 April 2020

39,714

8,080

47,794

NET BOOK VALUE

At 30 April 2020

1,464

346

1,810

At 30 April 2019

1,952

461

2,413

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

3,151

Social security and other taxes

27

29

Directors' current accounts

29,244

30,159

Accrued expenses

709

(573

)

29,980

32,766