Warwick Banks and Jenkins Limited Filleted accounts for Companies House (small and micro)

Warwick Banks and Jenkins Limited Filleted accounts for Companies House (small and micro)

WARWICK BANKS AND JENKINS LIMITED - Company Information

Print Friendly Version

3 false false false false false false false false false true false false false false false false No description of principal activity 2019-07-01 Sage Accounts Production Advanced 2020 - FRS102_2019 1,497 374 375 749 748 1,123 xbrli:pure xbrli:shares iso4217:GBP 05871774 2019-07-01 2020-06-30 05871774 2020-06-30 05871774 2019-06-30 05871774 2018-07-01 2019-06-30 05871774 2019-06-30 05871774 2018-06-30 05871774 bus:Director1 2019-07-01 2020-06-30 05871774 bus:Director2 2019-07-01 2020-06-30 05871774 bus:Director3 2019-07-01 2020-06-30 05871774 core:WithinOneYear 2020-06-30 05871774 core:WithinOneYear 2019-06-30 05871774 core:AfterOneYear 2020-06-30 05871774 core:ShareCapital 2020-06-30 05871774 core:ShareCapital 2019-06-30 05871774 core:RetainedEarningsAccumulatedLosses 2020-06-30 05871774 core:RetainedEarningsAccumulatedLosses 2019-06-30 05871774 bus:Director1 2019-06-30 05871774 bus:Director1 2020-06-30 05871774 bus:Director2 2019-06-30 05871774 bus:Director2 2020-06-30 05871774 bus:Director3 2019-06-30 05871774 bus:Director3 2020-06-30 05871774 bus:Director1 2019-06-30 05871774 bus:Director2 2018-06-30 05871774 bus:Director2 2019-06-30 05871774 bus:Director3 2019-06-30 05871774 bus:Director1 2018-07-01 2019-06-30 05871774 bus:Director3 2018-07-01 2019-06-30 05871774 bus:SmallEntities 2019-07-01 2020-06-30 05871774 bus:AuditExempt-NoAccountantsReport 2019-07-01 2020-06-30 05871774 bus:FullAccounts 2019-07-01 2020-06-30 05871774 bus:SmallCompaniesRegimeForAccounts 2019-07-01 2020-06-30 05871774 bus:PrivateLimitedCompanyLtd 2019-07-01 2020-06-30 05871774 core:OfficeEquipment 2019-07-01 2020-06-30 05871774 core:OfficeEquipment 2020-06-30 05871774 core:OfficeEquipment 2019-06-30
COMPANY REGISTRATION NUMBER: 05871774
Warwick Banks and Jenkins Limited
Filleted Unaudited Financial Statements
30 June 2020
Warwick Banks and Jenkins Limited
Statement of Financial Position
30 June 2020
2020
2019
Note
£
£
Fixed assets
Tangible assets
4
748
1,123
Current assets
Stocks
15,903
85,860
Debtors
5
209,614
147,571
Cash at bank and in hand
29,093
3,966
----------
----------
254,610
237,397
Creditors: amounts falling due within one year
6
322,584
146,582
----------
----------
Net current (liabilities)/assets
( 67,974)
90,815
---------
---------
Total assets less current liabilities
( 67,226)
91,938
Creditors: amounts falling due after more than one year
7
50,000
–
----------
---------
Net (liabilities)/assets
( 117,226)
91,938
----------
---------
Capital and reserves
Called up share capital
150
150
Profit and loss account
( 117,376)
91,788
----------
---------
Shareholders (deficit)/funds
( 117,226)
91,938
----------
---------
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 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Warwick Banks and Jenkins Limited
Statement of Financial Position (continued)
30 June 2020
These financial statements were approved by the board of directors and authorised for issue on 25 June 2021 , and are signed on behalf of the board by:
Mr HJJ Jenkins
Mr NJJ Jenkins
Director
Director
OG Warwick Banks
Director
Company registration number: 05871774
Warwick Banks and Jenkins Limited
Notes to the Financial Statements
Year ended 30 June 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 Marylebone Lane, London, W1U 2NT, England.
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.
Going concern
In the opinion of the directors, continued financial support will be available such that the company can continue trading and meet it's liabilities as they fall due. Based on this, the directors consider it appropriate that the financial statements are prepared on a going concern basis.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
Equipment
-
25% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2019: 3 ).
4. Tangible assets
Equipment
£
Cost
At 1 July 2019 and 30 June 2020
1,497
-------
Depreciation
At 1 July 2019
374
Charge for the year
375
-------
At 30 June 2020
749
-------
Carrying amount
At 30 June 2020
748
-------
At 30 June 2019
1,123
-------
5. Debtors
2020
2019
£
£
Trade debtors
9,165
102,727
Other debtors
200,449
44,844
----------
----------
209,614
147,571
----------
----------
6. Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
–
14,801
Trade creditors
41,440
27,246
Corporation tax
56,166
81,221
Social security and other taxes
13,875
12,933
Other creditors
211,103
10,381
----------
----------
322,584
146,582
----------
----------
7. Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
50,000
–
---------
----
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2020
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr HJJ Jenkins
3,144
30,275
33,419
Mr NJJ Jenkins
( 239)
–
( 239)
OG Warwick Banks
31,472
85,048
116,520
---------
----------
----------
34,377
115,323
149,700
---------
----------
----------
2019
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr HJJ Jenkins
–
3,143
3,143
Mr NJJ Jenkins
( 239)
–
( 239)
OG Warwick Banks
–
31,472
31,472
----
---------
---------
( 239)
34,615
34,376
----
---------
---------