JensonR+ Limited 31/12/2021 iXBRL
JensonR+ Limited 31/12/2021 iXBRL
Company registration number:
07485172
JENSONR+ LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021
2021 | 2020 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
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Tangible assets | 6 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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Debtors | 7 |
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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 | 8 |
(
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(
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_______ | _______ | ||||||||
Net current assets |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 9 |
(
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- | ||||||
Provisions for liabilities |
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Capital redemption reserve | 10 |
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Profit and loss account | 10 |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
Directors responsibilities:
-
The members have 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
06 June 2022
, and are signed on behalf of the board by:
Director
Director
Company registration number:
07485172
JENSONR+ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fishleigh Court, Fishleigh Road, Barnstaple, Devon, EX31 3UD.
Principal activity
The principal activity of the company is that of pharmaceutical services.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
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.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Training costs | - |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Freehold property | - |
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Furniture and equipment | - |
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Software | - | 33.33 % | straight line | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Work in progress - accrued income
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Government grants
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to 35
(2020:
29
).
5.
Intangible assets
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 1 January 2021 |
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Additions | 4,305 | 4,305 | |
_______ | _______ | ||
At 31 December 2021 |
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_______ | _______ | ||
Amortisation | |||
At 1 January 2021 | - | - | |
Charge for the year |
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_______ | _______ | ||
At 31 December 2021 |
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_______ | _______ | ||
Carrying amount | |||
At 31 December 2021 |
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_______ | _______ | ||
At 31 December 2020 |
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_______ | _______ | ||
6.
Tangible assets
Freehold property | Fixtures, fittings and equipment | Bespoke software | Total | ||
£ | £ | £ | £ | ||
Cost | |||||
At 1 January 2021 |
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66,153 |
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Additions | - |
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1,529 |
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Disposals | - | - | ( 24,435) |
(
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_______ | _______ | _______ | _______ | ||
At 31 December 2021 |
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43,247 |
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_______ | _______ | _______ | _______ | ||
Depreciation | |||||
At 1 January 2021 |
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- |
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Charge for the year |
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14,416 |
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_______ | _______ | _______ | _______ | ||
At 31 December 2021 |
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14,416 |
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_______ | _______ | _______ | _______ | ||
Carrying amount | |||||
At 31 December 2021 |
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28,831 |
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_______ | _______ | _______ | _______ | ||
At 31 December 2020 |
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66,153 |
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_______ | _______ | _______ | _______ | ||
7.
Debtors
2021 | 2020 | |||
£ | £ | |||
Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest | - |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Social security and other taxes | 247,291 | 235,950 | ||
Other creditors | 89,523 | 92,554 | ||
_______ | _______ | |||
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_______ | _______ | |||
The bank loan of £10,753 (2020: £111,529) is secured by way of a debenture held by the company, over Unit C1 Fishleigh Road, Barnstaple and its associated assets and by way of a personal guarantee for £50,000 by Mr Knight.
9.
Creditors: amounts falling due after more than one year
2021 | 2020 | |||
£ | £ | |||
Bank loans and overdrafts |
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- | ||
_______ | _______ | |||
The bank loan of £92,031 (2020: £-) is secured by way of a debenture held by the company, over Unit C1 Fishleigh Road, Barnstaple and its associated assets and by way of a personal guarantee for £50,000 by Mr Knight.
10.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.Capital redemtion reserve:This reserve records the nominal value of shares repurchased by the company.
11.
Other financial commitments
As at 31 December 2021 the company had non cancellable financial commitments totalling £54,677 (2020: £77,593).
12.
Events after the end of the reporting period
It should be noted that as at the end of the financial year there was instability relating to the global health emergency in respect of Coronavirus.
13.
Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value | Balance owed by/(owed to) | ||||
2021 | 2020 | 2021 | 2020 | ||
£ | £ | £ | £ | ||
Connected company | - | ( 5,880) | - | - | |
Connected company | ( 1,678) | 1,678 | - | 1,678 | |
_______ | _______ | _______ | _______ | ||
The above loans are interest free and repayable on demand.
14.
Ultimate parent undertaking
The company is under the control of Jenson R+ Holdings Ltd, its parent company. The registered office is Fishleigh Court, Fishleigh Road, Barnstaple, Devon, EX31 3UD.
15.
Coronavirus Job Retention Scheme
During the year the company was the recipient of economic benefits as a result of participating in the UK Government's Coronavirus Job Retention Scheme. The total funds recognised on an accruals basis from the UK Government during the year was £11,428 (2020: £6,010).