Jasco Applied Sciences (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07035094 (England and Wales)

Financial Statements

For The Year Ended 30 September 2021

for

Jasco Applied Sciences (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R D J Burns

S A Carr

D E Hannay

R G Racca

REGISTERED OFFICE:

The Flint Barn

St Clair's Farm

Wickham Road, Droxford

Southampton

Hampshire

SO32 3PW

REGISTERED NUMBER:

07035094 (England and Wales)

AUDITORS:

Butler & Co (Bishops Waltham) Limited

Statutory Auditors

Avalon House

Waltham Business Park

Brickyard Road, Swanmore

Southampton

Hampshire

SO32 2SA

FIXED ASSETS

Tangible assets

5

16,658

12,173

CURRENT ASSETS

Stocks

6

-

10,914

Debtors

7

161,236

160,873

Cash at bank

237,287

331,956

398,523

503,743

CREDITORS

Amounts falling due within one year

8

406,695

533,928

NET CURRENT LIABILITIES

(8,172

)

(30,185

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,486

(18,012

)

PROVISIONS FOR LIABILITIES

3,165

2,313

NET ASSETS/(LIABILITIES)

5,321

(20,325

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

5,121

(20,525

)

SHAREHOLDERS' FUNDS

5,321

(20,325

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2022 and were signed on its behalf by:

R D J Burns - Director

1.	STATUTORY INFORMATION

Jasco Applied Sciences (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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% reducing balance basis

Fixtures and equipment

-

25% on cost

Computer equipment

-

25% reducing balance basis, Straight line over 3 years and Straight line over 8 years

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

equipment

equipment

Totals

£

£

£

£

COST

At 1 October 2020

252

6,537

19,684

26,473

Additions

-

-

8,491

8,491

At 30 September 2021

252

6,537

28,175

34,964

DEPRECIATION

At 1 October 2020

176

5,936

8,188

14,300

Charge for year

19

201

3,786

4,006

At 30 September 2021

195

6,137

11,974

18,306

NET BOOK VALUE

At 30 September 2021

57

400

16,201

16,658

At 30 September 2020

76

601

11,496

12,173

6.

STOCKS

30.9.21

30.9.20

£

£

Work-in-progress

-

10,914

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

8,510

38,521

Amounts owed by group undertakings

131,203

105,384

Tax

11,485

3,668

VAT

-

1,033

Prepayments and accrued income

10,038

12,267

161,236

160,873

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade creditors

-

11,191

Amounts owed to group undertakings

382,527

506,264

Tax

7

-

Social security and other taxes

5,773

5,061

VAT

6,111

-

Pension contributions payable

4,095

3,280

Directors' current accounts

132

132

Accruals and deferred income

8,050

8,000

406,695

533,928

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr S J Slater (Senior Statutory Auditor)

for and on behalf of Butler & Co (Bishops Waltham) Limited

10.	OTHER FINANCIAL COMMITMENTS

The company had other financial commitments of £163,800 for contracted future lease payments.

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Jasco Research Limited.

13.

COVID-19

In common with many other companies, the outbreak of COVID-19 in the UK and the measures being taken to control its spread, have had a detrimental impact on our business, specifically with regard to staff being able to travel for work during the period of local lockdown restrictions and guidelines for social distancing measures.

The directors believe the company holds sufficient working capital and available funds to consider the company to have the financial statements prepared on a going concern basis, and that no adjustments are to be made in respect to the assets or debts due to or from the company as at the balance sheet date.

Further lockdown's and global travel restrictions came into force after the balance sheet date. The future duration and impact of the COVID-19 pandemic, as well as the effectiveness of later government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of the consequences, as well as their impact on the financial position and results of the company for future periods.