JACK_ROSS_LIMITED - Accounts

JACK ROSS LIMITED - Company Information

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Company Registration No. 05774612 (England and Wales)

JACK ROSS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2015

JACK ROSS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

JACK ROSS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

Notes

Fixed assets

Intangible assets

Tangible assets

54,708

54,711

Current assets

Stocks

89,062

Debtors

356,817

Cash at bank and in hand

145,021

590,900

Creditors: amounts falling due within one year

(426,748)

Net current assets

164,152

Total assets less current liabilities

218,863

Capital and reserves

Called up share capital

9,000

Profit and loss account

209,863

Shareholders' funds

218,863

For the financial Period ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 15 March 2016

Umar Memon

David Peter Black

Director

Company Registration No. 05774612

JACK ROSS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold Land and buildings

10% Straight Line

Plant and machinery

25% Straight Line

Computer equipment

25% Straight Line

Fixtures, fittings & equipment

25% Straight Line

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the Period they are payable.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

JACK ROSS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2015

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2014

Additions

60,787

60,790

At 31 March 2015

60,787

60,790

Depreciation

At 1 May 2014

Charge for the period

6,079

At 31 March 2015

6,079

Net book value

At 31 March 2015

54,708

54,711

Share capital

2015

Allotted, called up and fully paid

9,000 Ordinary of £1 each

9,000

During the year 9,000 ordinary shares of £1 each were allotted and fully paid at par for cash consideration to provide additional working capital.