Jinota Ltd


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Registered number: 04366371
Jinota Ltd
Abbreviated accounts
For The Year Ended 28 February 2015
Crest Complete Solutions Limited

Chartered Certified Accountants

Unit 3A, Carn Brea Business Park
Wilson Way
Redruth
TR15 3RR
Abbreviated Balance Sheet
2015 2014
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 2 29,753 35,825
29,753 35,825
CURRENT ASSETS
Stocks 1,500 1,500
Debtors 189,413 147,695
Cash at bank and in hand 27,403 7,210
218,316 156,405
Creditors: Amounts Falling Due Within One Year (153,009) (140,077)
NET CURRENT ASSETS (LIABILITIES) 65,307 16,328
TOTAL ASSETS LESS CURRENT LIABILITIES 95,060 52,153
Creditors: Amounts Falling Due After More Than One Year 3 (49,103) (30,548)
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,327) (3,435)
NET ASSETS 39,630 18,170
CAPITAL AND RESERVES
Called up share capital 4 200 200
Profit and Loss Account 39,429 17,971
SHAREHOLDERS' FUNDS 39,629 18,171
Page 1
For the year ending 28 February 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 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
Mr Stephen Parkinson
05/07/2016
Page 2
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the 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 a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Page 3
Tangible Assets
Total
Cost £
As at 1 March 2014 61,164
Additions 3,847
As at 28 February 2015 65,011
Depreciation
As at 1 March 2014 25,339
Provided during the period 9,919
As at 28 February 2015 35,258
Net Book Value
As at 28 February 2015 29,753
As at 1 March 2014 35,825
Creditors: Amounts Falling Due After More Than One Year
2015 2014
£ £
Net obligations under finance lease and hire purchase contracts - 7,234
Bank loans 49,103 23,314
49,103 30,548
Share Capital
Value Number 2015 2014
Allotted, called up and fully paid £ £ £
Ordinary shares 1.00 200 200 200
Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
As at 1 March 2014 Amounts advanced Amounts repaid As at 28 February 2015
£ £ £ £
Mr Stephen Parkinson 29,831 34,615 (20,000) 44,446
Mrs Karen Parkinson 29,831 34,614 (20,000) 44,445
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
Page 4