JED HARDWARE LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC593964 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

JED HARDWARE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Murtaza

SECRETARY:

REGISTERED OFFICE:

53 High Street

Jedburgh

TD8 6DQ

REGISTERED NUMBER:

SC593964 (Scotland)

ACCOUNTANTS:

Ahmad & Nabi Mcmullan Accountants

95-107 Lancefield Street

Glasgow

G3 8HZ

FIXED ASSETS

Intangible assets

4

10,000

10,000

Tangible assets

5

1,248

1,560

11,248

11,560

CURRENT ASSETS

Stocks

17,200

19,550

Cash at bank and in hand

56,815

10,195

74,015

29,745

CREDITORS

Amounts falling due within one year

6

26,962

33,155

NET CURRENT ASSETS/(LIABILITIES)

47,053

(3,410

)

TOTAL ASSETS LESS CURRENT LIABILITIES

58,301

8,150

CREDITORS

Amounts falling due after more than one year

7

26,724

-

NET ASSETS

31,577

8,150

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

31,477

8,050

SHAREHOLDERS' FUNDS

31,577

8,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2021 and were signed by:

G Murtaza - Director

1.	STATUTORY INFORMATION

JED HARDWARE LTD is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

and 30 April 2020

10,000

NET BOOK VALUE

At 30 April 2020

10,000

At 30 April 2019

10,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

2,080

DEPRECIATION

At 1 May 2019

520

Charge for year

312

At 30 April 2020

832

NET BOOK VALUE

At 30 April 2020

1,248

At 30 April 2019

1,560

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

(1

)

-

Taxation and social security

9,342

7,078

Other creditors

17,621

26,077

26,962

33,155

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans

26,724

-