Jet Developments (Ne) Limited Filleted accounts for Companies House (small and micro)

JET DEVELOPMENTS (NE) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12219903

Jet Developments (Ne) Limited

Filleted Unaudited Financial Statements

31 October 2021

Jet Developments (Ne) Limited

Financial Statements

Year ended 31 October 2021

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Jet Developments (Ne) Limited

Statement of Financial Position

31 October 2021

	2021	2020
Note	£	£

Current assets

Stocks		634,475	401,414
Debtors	4	11,512	14,844
Cash at bank and in hand		33,321	439
		---------	---------
		679,308	416,697

Creditors: amounts falling due within one year	5	709,985	432,635
		---------	---------
Net current liabilities		30,677	15,938
		--------	--------
Total assets less current liabilities		( 30,677)	( 15,938)
		--------	--------
Net liabilities		( 30,677)	( 15,938)
		--------	--------

Capital and reserves

Called up share capital	10	10
Profit and loss account	( 30,687)	( 15,948)
	--------	--------
Shareholders deficit	( 30,677)	( 15,938)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 23 November 2021 , and are signed on behalf of the board by:

Mr T Farrell
Director

Company registration number: 12219903

Jet Developments (Ne) Limited

Notes to the Financial Statements

Year ended 31 October 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 5a Poplar Crescent, Bensham, Gateshead, United Kingdom, NE8 1QD.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2020: 1 ).

4. Debtors

	2021	2020
	£	£
Other debtors	11,512	14,844
	--------	--------

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	50,000	50,001
Social security and other taxes	1,515	62
Other creditors	658,470	382,572
	---------	---------
	709,985	432,635
	---------	---------