ACCOUNTS - Final Accounts preparation

JH EVENT SERVICES LTD - Company Information

Company registration number: 07667254

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 JUNE 2020

	JH EVENT SERVICES LIMITED


JH EVENT SERVICES LIMITED REGISTERED NUMBER:07667254

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		1,231		1,211
Investments	5		111,242		113,009
			112,473		114,220
Current assets
Debtors: amounts falling due within one year	6	2,304		4,824
Cash at bank and in hand		23,149		17,935
		25,453		22,759
Creditors: amounts falling due within one year	7	(23,961)		(24,706)
Net current assets/(liabilities)			1,492		(1,947)
Total assets less current liabilities			113,965		112,273

Net assets			113,965		112,273

Capital and reserves
Called up share capital	1	1
Profit and loss account	113,964	112,272
	113,965	112,273

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr J Howes

Director

Date: 9 March 2021

The notes on pages 2 to 5 form part of these financial statements.

Page 1


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

1.	General information

JH Event Services Limited is a private company, limited by shares, registered in England & Wales, company registration number 07667254. The registered office is Lynton House, 7-12 Tavistock Square, London WC1H 9LT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The emergence and spread of COVID-19 in 2020 and the associated social distancing measures and imposed restrictions have impacted businesses globally.
In response to the pandemic and uncertainty, the director has taken measures in order to safeguard cashflow, customers and supply chains that they belive should enable the company to continue in operational existence. It is therefore the opinion of the director that the going concern basis of preparation continues to be appropriate..

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Page 2


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

25%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2019 - 1).

Page 3


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 July 2019	10,457
	Additions	1,166
	At 30 June 2020	11,623
	Depreciation
	At 1 July 2019	9,246
	Charge for the year on owned assets	1,146
	At 30 June 2020	10,392
	Net book value
	At 30 June 2020	1,231
	At 30 June 2019	1,211

5.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 July 2019	113,009
	Revaluations	(1,767)
	At 30 June 2020	111,242

Page 4


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

Debtors

					2020	2019
					£	£


Trade debtors	2,100	4,620
Other debtors	204	204
	2,304	4,824

7.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Bank overdrafts	143	299
Trade creditors	612	1,520
Corporation tax	987	-
Other taxation and social security	700	1,517
Other creditors	19,494	19,345
Accruals and deferred income	2,025	2,025
	23,961	24,706

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £30,000 (2019 - £40,000).

Page 5