JOL Business Solutions Limited - Period Ending 2015-05-31

Registration number: 05803183

JOL Business Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

JOL Business Solutions Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

JOL Business Solutions Limited
(Registration number: 05803183)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			622			830
Current assets
Debtors					13,074			14,229
Cash at bank and in hand					241,707			196,473
					254,781			210,702
Creditors: Amounts falling due within one year					(38,392)			(38,641)
Net current assets					216,389			172,061
Total assets less current liabilities					217,011			172,891
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					216,911			172,791
Shareholders' funds					217,011			172,891

For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 9 January 2016

.........................................
Mr S Rix
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

JOL Business Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		3,815			3,815
At 31 May 2015		3,815			3,815
Depreciation
At 1 June 2014		2,985			2,985
Charge for the year		208			208
At 31 May 2015		3,193			3,193
Net book value
At 31 May 2015		622			622
At 31 May 2014		830			830

Page 2

JOL Business Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr S Rix
Director's loan account	85,838	85,236	83,424	84,647

Page 3