Abbreviated Company Accounts - J AND J COMMERCIALS LIMITED

J AND J COMMERCIALS LIMITED - Company Information

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Registered Number 02955230

J AND J COMMERCIALS LIMITED

Abbreviated Accounts

30 September 2015

J AND J COMMERCIALS LIMITED Registered Number 02955230

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	562,274	514,752
		562,274	514,752
Current assets
Stocks		2,065	740
Debtors		48,291	34,261
Cash at bank and in hand		5,113	368
		55,469	35,369
Creditors: amounts falling due within one year		(233,730)	(155,067)
Net current assets (liabilities)		(178,261)	(119,698)
Total assets less current liabilities		384,013	395,054
Creditors: amounts falling due after more than one year		(222,346)	(251,318)
Total net assets (liabilities)		161,667	143,736
Capital and reserves
Called up share capital	3	300	300
Profit and loss account		161,367	143,436
Shareholders' funds		161,667	143,736

For the year ending 30 September 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 directors acknowledge their 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 Board on 10 February 2016

And signed on their behalf by:
James Johnston, Director

J AND J COMMERCIALS LIMITED Registered Number 02955230

Notes to the Abbreviated Accounts for the period ended 30 September 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings - Nil
Fixtures, fittings & equipment – 15% reducing balance
Plant & machinery – 15% reducing balance
Motor vehicles – 20% reducing balance

Other accounting policies
Leasing & hire purchase commitments - Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives Obligations under such agreements are included in creditors net of the finance charge allocated to future periods The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Stock - Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 October 2014	765,822
Additions	173,339
Disposals	(122,722)
Revaluations	-
Transfers	-
At 30 September 2015	816,439
Depreciation
At 1 October 2014	251,070
Charge for the year	65,121
On disposals	(62,026)
At 30 September 2015	254,165
Net book values
At 30 September 2015	562,274
At 30 September 2014	514,752

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
200 Ordinary shares of £1 each	200	200
100 B Ordinary shares of £1 each	100	100