Jac+Jack_UK_Limited - Accounts

JAC+JACK UK LIMITED - Company Information

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Company Registration No. 09253350 (England and Wales)

Jac+Jack UK Limited

Unaudited abbreviated financial statements

For the period ended 30 June 2015

JAC+JACK UK LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

JAC+JACK UK LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

Notes

Fixed assets

Tangible assets

60,451

Current assets

Stocks

56,077

Debtors

41,336

Cash at bank and in hand

44,928

142,341

Creditors: amounts falling due within one year

(265,943)

Net current liabilities

(123,602)

Total assets less current liabilities

(63,151)

Capital and reserves

Called up share capital

144

Profit and loss account

(63,295)

Shareholders' funds

(63,151)

For the financial period ended 30 June 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 31 March 2016

D H Bottomley

L R K Dempsey

Director

Company Registration No. 09253350

JAC+JACK UK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 JUNE 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 designer clothing sold by retail and online net of VAT and trade discounts.

1.4

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:

Land and buildings Leasehold

Over term of the lease

Computer equipment

33.3% straight line

Fixtures, fittings & equipment

25% reducing balance

1.5

Leasing

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

1.6

Stock

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

1.7

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.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.9

Going concern

The financial statements have been prepared on the going concern basis notwithstanding the loss for the period and the net liabilities at the period end. The directors believe the going concern basis to be appropriate due to the parent company having confirmed its ability and intention to continue to support this company so that it is able to settle its day to day liabilities as they fall due into the future. The parent company has also confirmed that it will not withdraw this support until such a time as it can be done without adversely affecting the financial position of Jac+Jack UK Limited.

JAC+JACK UK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 JUNE 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 7 October 2014

Additions

74,786

At 30 June 2015

74,786

Depreciation

At 7 October 2014

Charge for the period

14,335

At 30 June 2015

14,335

Net book value

At 30 June 2015

60,451

Share capital

2015

Allotted, called up and fully paid

144 Ordinary shares of £1 each

144

During the period 144 Ordinary shares of £1 each were issued at par.