J & J Designs (Staffordshire) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06665767 (England and Wales)

J & J Designs (Staffordshire) Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Holmes

Mrs J Holmes

SECRETARY:

Mrs J Holmes

REGISTERED OFFICE:

Lymore Villa

162a London Road

Chesterton

Newcastle

Staffordshire

ST5 7JB

REGISTERED NUMBER:

06665767 (England and Wales)

ACCOUNTANTS:

Slaters & Co Accountants

Lymore Villa

162a London Road

Chesterton

Newcastle

Staffordshire

ST5 7JB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

53,665

16,870

53,665

16,870

CURRENT ASSETS

Stocks

136,640

128,687

Debtors

6

4,196

49,171

Cash at bank and in hand

77,819

132,657

218,655

310,515

CREDITORS

Amounts falling due within one year

7

154,744

191,592

NET CURRENT ASSETS

63,911

118,923

TOTAL ASSETS LESS CURRENT LIABILITIES

117,576

135,793

CREDITORS

Amounts falling due after more than one year

8

(36,667

)

(82,892

)

PROVISIONS FOR LIABILITIES

(10,196

)

(3,205

)

NET ASSETS

70,713

49,696

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

70,711

49,694

SHAREHOLDERS' FUNDS

70,713

49,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 31 January 2022 and were signed on its behalf by:

J Holmes - Director

1.	STATUTORY INFORMATION

J & J Designs (Staffordshire) Ltd 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.

Turnover

Turnover represents net invoice value of goods / services provided, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

A grant that specifies performance conditions is recognised when the performance conditions are met.

Where a grant does not specify performance conditions it is recognised as income when the proceeds are received or receivable. A grant received before the performance conditions are met is recognised as a liability.

Stocks

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

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 7 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2020

and 30 September 2021

30,000

AMORTISATION

At 1 October 2020

and 30 September 2021

30,000

NET BOOK VALUE

At 30 September 2021

-

At 30 September 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2020

74,741

7,571

3,474

85,786

Additions

55,978

1,530

2,711

60,219

Disposals

(22,000

)

-

-

(22,000

)

At 30 September 2021

108,719

9,101

6,185

124,005

DEPRECIATION

At 1 October 2020

60,526

5,101

3,289

68,916

Charge for year

16,246

1,001

956

18,203

Eliminated on disposal

(16,779

)

-

-

(16,779

)

At 30 September 2021

59,993

6,102

4,245

70,340

NET BOOK VALUE

At 30 September 2021

48,726

2,999

1,940

53,665

At 30 September 2020

14,215

2,470

185

16,870

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

4,196

49,171

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

10,000

5,509

Trade creditors

43,436

58,631

Taxation and social security

29,902

51,243

Other creditors

71,406

76,209

154,744

191,592

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

36,667

82,892

9.	GOING CONCERN

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of coronavirus on the economy and therefore the financial statements have been prepared on a going concern basis.

10.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period by its directors, Mr and Mrs J Holmes, who own 100% of the company's ordinary share capital.