JC RECOVERIES LIMITED

JC RECOVERIES LIMITED

JC RECOVERIES LIMITED - Company Information

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Company Registration No. 10676423 (England and Wales)
JC RECOVERIES LIMITED Unaudited accounts for the year ended 31 March 2021
JC RECOVERIES LIMITED Unaudited accounts Contents
Page
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JC RECOVERIES LIMITED Company Information for the year ended 31 March 2021
Director
John Edward Collinson
Company Number
10676423 (England and Wales)
Registered Office
Richlands Maesteg Road Tondu Bridgend CF32 9BT
Accountants
Richlands Accountancy Ltd Richlands Maesteg Road Tondu Bridgend CF32 9BT
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JC RECOVERIES LIMITED Accountants' report
Accountants' report to the director of JC RECOVERIES LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JC RECOVERIES LIMITED for the year ended 31 March 2021 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of JC RECOVERIES LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of JC RECOVERIES LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JC RECOVERIES LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that JC RECOVERIES LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JC RECOVERIES LIMITED. You consider that JC RECOVERIES LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of JC RECOVERIES LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Richlands Accountancy Ltd Richlands Maesteg Road Tondu Bridgend CF32 9BT 18 May 2021
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JC RECOVERIES LIMITED Statement of financial position as at 31 March 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
4,423 
4,846 
Current assets
Inventories
9,294 
7,760 
Debtors
5
80 
- 
Cash at bank and in hand
90,755 
41,838 
100,129 
49,598 
Creditors: amounts falling due within one year
6
(32,584)
(36,521)
Net current assets
67,545 
13,077 
Net assets
71,968 
17,923 
Capital and reserves
Called up share capital
10,400 
10,400 
Profit and loss account
61,568 
7,523 
Shareholders' funds
71,968 
17,923 
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 May 2021 and were signed on its behalf by
John Edward Collinson Director Company Registration No. 10676423
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JC RECOVERIES LIMITED Notes to the Accounts for the year ended 31 March 2021
1
Statutory information
JC RECOVERIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10676423. The registered office is Richlands, Maesteg Road, Tondu, Bridgend, CF32 9BT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2020
7,306 
Additions
683 
At 31 March 2021
7,989 
Depreciation
At 1 April 2020
2,460 
Charge for the year
1,106 
At 31 March 2021
3,566 
Net book value
At 31 March 2021
4,423 
At 31 March 2020
4,846 
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JC RECOVERIES LIMITED Notes to the Accounts for the year ended 31 March 2021
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Other debtors
80 
- 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
7,985 
- 
Taxes and social security
16,189 
12,546 
Other creditors
6,525 
15,631 
Loans from directors
1,135 
7,594 
Accruals
750 
750 
32,584 
36,521 
7
Average number of employees
During the year the average number of employees was 4 (2020: 4).
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