Abbreviated Company Accounts - JDC CERAMICS & BATHROOMS LIMITED

Abbreviated Company Accounts - JDC CERAMICS & BATHROOMS LIMITED

JDC KITCHENS, BATHROOMS & INTERIORS LTD - Company Information

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Registered Number 07371727

JDC CERAMICS & BATHROOMS LIMITED

Abbreviated Accounts

31 March 2016

JDC CERAMICS & BATHROOMS LIMITED Registered Number 07371727

Abbreviated Balance Sheet as at 31 March 2016

Notes 31/03/2016 31/10/2015
£ £
Fixed assets
Intangible assets 2 4,583 5,000
Tangible assets 3 42,951 32,773
47,534 37,773
Current assets
Stocks 25,059 33,436
Debtors 48,090 34,103
Cash at bank and in hand 23,855 23,455
97,004 90,994
Creditors: amounts falling due within one year (127,082) (112,765)
Net current assets (liabilities) (30,078) (21,771)
Total assets less current liabilities 17,456 16,002
Creditors: amounts falling due after more than one year (9,690) (10,679)
Provisions for liabilities (7,732) -
Total net assets (liabilities) 34 5,323
Capital and reserves
Called up share capital 4 4
Profit and loss account 30 5,319
Shareholders' funds 34 5,323
  • For the year ending 31 March 2016 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 30 June 2016

And signed on their behalf by:
J D Chesters, Director

JDC CERAMICS & BATHROOMS LIMITED Registered Number 07371727

Notes to the Abbreviated Accounts for the period ended 31 March 2016

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

Tangible assets depreciation policy
Tangible fixed assets other than freehold land 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:

Showroom costs Over 2 Years
Office equipment 25% Straight Line
Tile gallery Over 2 Years
Fixtures and fittings 25% Straight Line
Motor vehicles 15% Straight Line

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset, as follows:

Goodwill 10% Straight Line

2Intangible fixed assets
£
Cost
At 1 November 2015 10,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 10,000
Amortisation
At 1 November 2015 5,000
Charge for the year 417
On disposals -
At 31 March 2016 5,417
Net book values
At 31 March 2016 4,583
At 31 October 2015 5,000
3Tangible fixed assets
£
Cost
At 1 November 2015 112,426
Additions 16,311
Disposals -
Revaluations -
Transfers -
At 31 March 2016 128,737
Depreciation
At 1 November 2015 79,653
Charge for the year 6,133
On disposals -
At 31 March 2016 85,786
Net book values
At 31 March 2016 42,951
At 31 October 2015 32,773

4Transactions with directors

Name of director receiving advance or credit: J D Chesters and J Chesters
Description of the transaction: Net Balance
Balance at 1 November 2015: -
Advances or credits made: £ 25,951
Advances or credits repaid: -
Balance at 31 March 2016: £ 25,951

Included within other debtors is an overdrawn directors loan account for J D Chesters and J Chesters amounting to £25,951 (2015 - £26,824). The maximum amount outstanding during the period was £38,751.

There was a number of transactions during the period resulting in a net repayment on the loan account of £873.

The loan bears no right to interest and has no set repayment terms.