Jainco (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05153185 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

JAINCO (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V Jain

S K Jain

K Jain

SECRETARY:

V Jain

REGISTERED OFFICE:

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

REGISTERED NUMBER:

05153185 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Tangible assets

4

54,572

66,315

CURRENT ASSETS

Stocks

221,184

361,646

Debtors

5

3,595,643

2,188,944

Cash at bank and in hand

1,082,153

831,543

4,898,980

3,382,133

CREDITORS

Amounts falling due within one year

6

1,767,392

2,210,264

NET CURRENT ASSETS

3,131,588

1,171,869

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,186,160

1,238,184

CREDITORS

Amounts falling due after more than one
year

7

(913,079

)

-

PROVISIONS FOR LIABILITIES

(9,000

)

(12,693

)

NET ASSETS

2,264,081

1,225,491

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

2,263,981

1,225,391

SHAREHOLDERS' FUNDS

2,264,081

1,225,491

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 13 October 2021 and were signed on its behalf by:

V Jain - Director

1.	STATUTORY INFORMATION

Jainco (UK) Limited is a private company, limited by shares , registered in England and Wales. 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

15% on cost

Stocks

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

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2019 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

224,808

Additions

8,585

At 31 December 2020

233,393

DEPRECIATION

At 1 January 2020

158,493

Charge for year

20,328

At 31 December 2020

178,821

NET BOOK VALUE

At 31 December 2020

54,572

At 31 December 2019

66,315

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

Trade debtors

1,272,384

1,046,180

Amounts owed by group undertakings

1,765,439

800,526

Other debtors

557,820

342,238

3,595,643

2,188,944

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

Bank loans and overdrafts

86,974

114,792

Trade creditors

4,269

2,819

Amounts owed to group undertakings

-

52,000

Taxation and social security

182,664

128,735

Other creditors & accruals

1,493,485

1,911,918

1,767,392

2,210,264

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.20

31.12.19

£

Bank loans

913,079

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

100

Ordinary shares

£1

100

9.	PARENT UNDERTAKING

The parent company of Jainco (UK) Limited is Jain Group Holdings Limited.

During the year dividends of £69,900 (2019: £51,600) were paid to Jain Group Holdings Limited.

10.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party

Jainco (UK) Limited - Accounts to registrar (filleted) - small 18.2

Jainco (UK) Limited - Accounts to registrar (filleted) - small 18.2