JWF (Group) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC493916 (Scotland)

JWF (GROUP) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2020

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

K Fairbairn

D Gemmell

R J Allan

REGISTERED OFFICE:

85 Seaward Street

Glasgow

G41 1HJ

REGISTERED NUMBER:

SC493916 (Scotland)

ACCOUNTANTS:

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JWF (Group) Limited for the year ended 31st December 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of JWF (Group) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JWF (Group) Limited and state those matters that we have agreed to state to the Board of Directors of JWF (Group) Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JWF (Group) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JWF (Group) Limited. You consider that JWF (Group) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JWF (Group) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

15th September 2021

FIXED ASSETS

Investments

4

1,452

1,452

CURRENT ASSETS

Cash at bank

108,009

47,530

CREDITORS

Amounts falling due within one year

5

11,191

10,253

NET CURRENT ASSETS

96,818

37,277

TOTAL ASSETS LESS CURRENT LIABILITIES

98,270

38,729

CAPITAL AND RESERVES

Called up share capital

6

1,378

1,378

Capital redemption reserve

72

72

Retained earnings

96,820

37,279

SHAREHOLDERS' FUNDS

8

98,270

38,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 10th September 2021 and were signed on its behalf by:

D Gemmell - Director

1.	STATUTORY INFORMATION

JWF (Group) Limited 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.

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.

Going Concern basis

The financial statements have been prepared on the going concern basis.

Despite the drawbacks of the COVID pandemic being amplified by continuing negative effects surrounding the UK's Brexit in January, 2021, the company is outperforming operational targets during the current financial year and the directors remain confident that there is opportunity for further growth in future. Indeed, given the change necessitated by operating under recent COVID lockdown restrictions, the directors now believe the company to be better prepared to meet the various challenges of the current business environment and so will continue to prosper.

The directors are not able to predict what government measures will be taken to control the continued spread of the virus however due to the strength of the company's balance sheet and the nature of the company's business the directors are of the view that the company will continue as a going concern and, therefore, will realise its assets, liabilities and commitments in the normal course of business.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2020

and 31st December 2020

1,452

NET BOOK VALUE

At 31st December 2020

1,452

At 31st December 2019

1,452

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed to group undertakings

10,728

9,353

Accruals and deferred income

463

900

11,191

10,253

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

123,250

Ordinary

£0.01

1,232

1,232

7,250

A Ordinary

£0.01

73

73

7,250

C Ordinary

£0.01

73

73

1,378

1,378

7.	ULTIMATE CONTROLLING PARTY

8.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

31.12.20

31.12.19

£

£

Profit for the financial year

538,966

182,996

Dividends

(479,425

)

(180,000

)

Net addition to shareholders' funds

59,541

2,996

Opening shareholders' funds

38,729

35,733

Closing shareholders' funds

98,270

38,729