JKC Group Limited Filleted accounts for Companies House (small and micro)
JKC Group Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
10672856
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Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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--------- |
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Creditors: amounts falling due within one year |
7 |
(
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(
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Net current assets/(liabilities) |
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(
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-------- |
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Total assets less current liabilities |
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(
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-------- |
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Net assets/(liabilities) |
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(
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Capital and reserves
Called up share capital |
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Profit and loss account |
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(
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Shareholder funds/(deficit) |
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(
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
22 January 2021
, and are signed on behalf of the board by:
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Director |
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Company registration number:
10672856
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Notes to the Financial Statements |
Year Ended 30th June 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Sherburn Networkcentre, Sherburn in Elmet, LS25 6NS, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset is realised.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash Short-term trade and other debtors and creditors Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. These balances are recorded at transaction price. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2019:
4
).
5.
Tangible assets
Motor vehicles |
Total |
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£ |
£ |
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Cost |
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At 1st July 2019 and 30th June 2020 |
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Depreciation |
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At 1st July 2019 |
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Charge for the year |
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At 30th June 2020 |
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Carrying amount |
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At 30th June 2020 |
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At 30th June 2019 |
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6.
Debtors
2020 |
2019 |
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£ |
£ |
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Trade debtors |
– |
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Other debtors |
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--------- |
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7.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Trade creditors |
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Corporation tax |
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– |
Social security and other taxes |
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Other creditors |
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8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2020 |
2019 |
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£ |
£ |
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Not later than 1 year |
– |
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9.
Director's advances, credits and guarantees
No advances were made to any director of the company during the year and no amounts in respect of advances to the directors were outstanding at the period end. The company has not provided any guarantees on behalf of its directors during the period.