John Chem Limited 30/11/2020 iXBRL

John Chem Limited 30/11/2020 iXBRL

JOHN CHEM LIMITED - Company Information

Print Friendly Version

2 30/11/2020 2020-11-30 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2019-12-01 Sage Accounts Production 2020 Update 1 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 11696623 2019-12-01 2020-11-30 11696623 2020-11-30 11696623 2018-12-01 2019-11-30 11696623 2019-11-30 11696623 bus:RegisteredOffice 2019-12-01 2020-11-30 11696623 bus:LeadAgentIfApplicable 2019-12-01 2020-11-30 11696623 bus:Director1 2019-12-01 2020-11-30 11696623 core:WithinOneYear 2020-11-30 11696623 core:WithinOneYear 2019-11-30 11696623 core:ShareCapital 2020-11-30 11696623 core:ShareCapital 2019-11-30 11696623 core:RetainedEarningsAccumulatedLosses 2020-11-30 11696623 core:RetainedEarningsAccumulatedLosses 2019-11-30 11696623 bus:SmallEntities 2019-12-01 2020-11-30 11696623 bus:AuditExempt-NoAccountantsReport 2019-12-01 2020-11-30 11696623 bus:FullAccounts 2019-12-01 2020-11-30 11696623 bus:SmallCompaniesRegimeForAccounts 2019-12-01 2020-11-30 11696623 bus:PrivateLimitedCompanyLtd 2019-12-01 2020-11-30
Company registration number: 11696623
John Chem Limited
Unaudited filleted financial statements
30 November 2020
John Chem Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
John Chem Limited
Directors and other information
Directors Mr Elsadat Mjekiqi
Company number 11696623
Registered office Apex House, 2nd Floor
Grand Arcade
London
N12 0EH
Business address 42 New Road
Radlett
WD7 8LX
Accountants Agents For Accounting Ltd
Apex House, 2nd Floor
Grand Arcade
London
N12 0EH
John Chem Limited
Statement of financial position
30 November 2020
30/11/20 30/11/19
Note £ £ £ £
Current assets
Debtors 5 5,465 6,078
Cash at bank and in hand 1,433 1,505
_______ _______
6,898 7,583
Creditors: amounts falling due
within one year 6 ( 5,918) ( 6,938)
_______ _______
Net current assets 980 645
_______ _______
Total assets less current liabilities 980 645
_______ _______
Net assets 980 645
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 880 545
_______ _______
Shareholders funds 980 645
_______ _______
For the year ending 30 November 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.
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 August 2021 , and are signed on behalf of the board by:
Mr Elsadat Mjekiqi
Director
Company registration number: 11696623
John Chem Limited
Notes to the financial statements
Year ended 30 November 2020
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Apex House, 2nd Floor, Grand Arcade, London, N12 0EH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).
The aggregate payroll costs incurred during the year were:
Year Period
Ended Ended
30/11/20 30/11/19
£ £
Wages and salaries 15,057 23,634
_______ _______
5. Debtors
30/11/20 30/11/19
£ £
Trade debtors - 3,936
Other debtors 5,465 2,142
_______ _______
5,465 6,078
_______ _______
6. Creditors: amounts falling due within one year
30/11/20 30/11/19
£ £
Trade creditors 483 1,124
Corporation tax 5,015 4,702
Social security and other taxes - 298
Other creditors 420 814
_______ _______
5,918 6,938
_______ _______
7. Directors advances, credits and guarantees
During the year of trading, director owes £5,463 to the company. The loan was interest free and was repaid on 05 January 2022.