JRS Limited - Accounts to registrar (filleted) - small 18.2

JRS Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 06219512 (England and Wales)















JRS Limited

Unaudited Financial Statements

for the Year Ended 30 April 2021






JRS Limited (Registered number: 06219512)






Contents of the Financial Statements
for the Year Ended 30 April 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JRS Limited

Company Information
for the Year Ended 30 April 2021







DIRECTOR: Mr J R Sired



REGISTERED OFFICE: Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR



REGISTERED NUMBER: 06219512 (England and Wales)



ACCOUNTANTS: Atkins Ferrie Chartered Accountants
Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR



BANKERS: Lloyds Bank
Taunton OSC
Sedgemoor House
Dean Gate Avenue
YEOVIL
Somerset
B26 3JW

JRS Limited (Registered number: 06219512)

Balance Sheet
30 April 2021

2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 457 644

CURRENT ASSETS
Stocks - 888
Debtors 5 27,072 107,284
Cash at bank 88,908 26,805
115,980 134,977
CREDITORS
Amounts falling due within one year 6 12,243 11,669
NET CURRENT ASSETS 103,737 123,308
TOTAL ASSETS LESS CURRENT LIABILITIES 104,194 123,952

PROVISIONS FOR LIABILITIES 87 122
NET ASSETS 104,107 123,830

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 104,007 123,730
104,107 123,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 5 July 2021 and were signed by:





Mr J R Sired - Director


JRS Limited (Registered number: 06219512)

Notes to the Financial Statements
for the Year Ended 30 April 2021

1. STATUTORY INFORMATION

JRS 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Going concern
During the year, the UK has been significantly impacted by the Covid-19 pandemic. The impact on many businesses and sectors across the UK, Europe and the globe have been unprecedented, and at the date of these financial statements, the outcome of the outbreak still remains uncertain.

The significant cash reserves within the company, as well as the strong balance sheet position, has resulted in the director's conclusion that the long-term impact on the company should be minimal. Therefore, the director anticipates that the company will continue to operate within its available resources, and be able to tolerate a reasonable level of unforeseen circumstance for a period of at least 12 months from the date of these financial statements. The financial statements have therefore been prepared on a going concern basis.

JRS Limited (Registered number: 06219512)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 1 ).

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 May 2020
and 30 April 2021 10,000 729 10,729
DEPRECIATION
At 1 May 2020 9,683 402 10,085
Charge for year 79 108 187
At 30 April 2021 9,762 510 10,272
NET BOOK VALUE
At 30 April 2021 238 219 457
At 30 April 2020 317 327 644

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 975 -
Other debtors 26,097 107,284
27,072 107,284

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Taxation and social security 11,050 10,476
Other creditors 1,193 1,193
12,243 11,669

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2021 and 30 April 2020:

2021 2020
£ £
Mr J R Sired
Balance outstanding at start of year 82,615 75,909
Amounts advanced 23,926 18,952
Amounts repaid (105,114 ) (12,246 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,427 82,615

JRS Limited has charged interest at a rate of 2.5% on the overdrawn balance within the year. The balance is repayable on demand.