ACCOUNTS - Final Accounts preparation

JH EVENT SERVICES LTD - Company Information

Company registration number: 07667254

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 JUNE 2021

	JH EVENT SERVICES LIMITED


JH EVENT SERVICES LIMITED REGISTERED NUMBER:07667254

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		1,039		1,231
Investments	5		86,973		111,242
			88,012		112,473
Current assets
Debtors: amounts falling due within one year	6	5,187		2,304
Cash at bank and in hand		23,440		23,149
		28,627		25,453
Creditors: amounts falling due within one year	7	(35,554)		(23,961)
Net current (liabilities)/assets			(6,927)		1,492
Total assets less current liabilities			81,085		113,965

Net assets			81,085		113,965

Capital and reserves
Called up share capital	1	1
Profit and loss account	81,084	113,964
	81,085	113,965

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr J Howes

Director

Date: 28 February 2022

The notes on pages 2 to 5 form part of these financial statements.

Page 1


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

1.	General information

JH Event Services Limited is a private company, limited by shares, registered in England & Wales, company registration number 07667254. The registered office is Lynton House, 7-12 Tavistock Square, London WC1H 9LT.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The emergence and spread of COVID-19 in 2020 and the associated social distancing measures and imposed restrictions have impacted businesses globally.
In response to the pandemic and uncertainty, the director has taken measures in order to safeguard cashflow, customers and supply chains that they belive should enable the company to continue in operational existence. It is therefore the opinion of the director that the going concern basis of preparation continues to be appropriate.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 2


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

25%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.9

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 3


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 July 2020	11,623
	Additions	608
	At 30 June 2021	12,231
	Depreciation
	At 1 July 2020	10,392
	Charge for the year on owned assets	800
	At 30 June 2021	11,192
	Net book value
	At 30 June 2021	1,039
	At 30 June 2020	1,231

5.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 July 2020	111,242
	Disposals	(27,837)
	Revaluations	3,568
	At 30 June 2021	86,973

Page 4


JH EVENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

Debtors

					2021	2020
					£	£


Trade debtors	4,200	2,100
Other debtors	987	204
	5,187	2,304

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank overdrafts	45	143
Trade creditors	105	612
Corporation tax	-	987
Other taxation and social security	1,998	700
Other creditors	31,056	19,494
Accruals and deferred income	2,350	2,025
	35,554	23,961

8.	Related party transactions

As at 30 June 2021, within other creditors there is a balance owed to the director of £31,056 (2020 - £19,494)
by the company. The loan has been provided interest free and is repayable on demand.

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