JEATON_LIMITED - Accounts

JEATON LIMITED - Company Information

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Company Registration No. 01696872 (England and Wales)

JEATON LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

JEATON LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

JEATON LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

408

Tangible assets

24,361

85,095

24,361

85,503

Current assets

Stocks

502,837

427,035

Debtors

1,751,048

1,630,992

Cash at bank and in hand

64,357

52,283

2,318,242

2,110,310

Creditors: amounts falling due within one year

(1,724,119)

(1,615,219)

Net current assets

594,123

495,091

Total assets less current liabilities

618,484

580,594

Creditors: amounts falling due after more than one year

(17,143)

Provisions for liabilities

(4,549)

618,484

558,902

Capital and reserves

Called up share capital

105,000

Share premium account

4,424

Profit and loss account

509,060

449,478

Shareholders' funds

618,484

558,902

JEATON LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 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 year 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 for issue on 13 September 2016

Mr M Oliver

Mr A Brierley

Director

Company Registration No. 01696872

JEATON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company finances its operations by means of a bank overdraft facility and by an invoice discounting facility. The directors are not aware of any reason why the facilities will not be maintained at their current levels. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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:

Land and buildings Leasehold

10% straight line

Plant and machinery

25% straight line

Computer equipment

33.3% straight line

Motor vehicles

25% reducing balance

1.6

Stock

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

1.7

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.

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

JEATON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

24,385

353,000

377,385

Additions

4,210

Disposals

(80,501)

At 31 December 2015

24,385

276,709

301,094

Depreciation

At 1 January 2015

23,977

267,905

291,882

On disposals

(43,175)

Charge for the year

408

27,618

28,026

At 31 December 2015

24,385

252,348

276,733

Net book value

At 31 December 2015

24,361

At 31 December 2014

408

85,095

85,503

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £816,863 (2014 - £782,482).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £17,143).

Share capital

2015

2014

Allotted, called up and fully paid

78,750 A Ordinary shares of £1 each

78,750

21,000 B Ordinary shares of £1 each

21,000

5,250 C Ordinary shares of £1 each

5,250

105,000

Each class of share has equal voting and capital rights.

JEATON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 5 -

Ultimate parent company

The ultimate parent company is Watling Investments Limited, a company incorporated in the British Virgin Islands.

Related party relationships and transactions

Loans to the directors

Loans to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr M Oliver - Director Loan

8,258

32,982

35,696

5,544

Mr A Brierley - Director Loan

8,500

Mrs M Oliver - Director Loan

9,999

9,825

174

16,758

42,981

54,021

5,718

The maximum balance overdrawn in the year for Mr M Oliver was £8,258, Mr A Brierley was £8,500 and for Mrs M Oliver was £174.

Loans from the directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr A Brierley - Director Loan

24,000

16,560

7,440

24,000

16,560

7,440