J'Inns Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07664697 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

J'INNS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Directors:

P C Jinman

Ms P Jinman

Secretary:

Mrs. G Jinman

Registered office:

Springbank

Ewyas Harold

Herefordshire

HR2 0JD

Registered number:

07664697 (England and Wales)

Accountants:

Haines Watts Hereford Ltd

3rd Floor

Broadway House

32 - 35 Broad Street

Hereford

Herefordshire

HR4 9AR

Fixed assets

Tangible assets

2

46,262

52,653

Current assets

Stocks

8,068

8,571

Debtors

36,949

50,510

Cash at bank and in hand

23,113

13,207

68,130

72,288

Creditors

Amounts falling due within one year

210,308

203,116

Net current liabilities

(142,178

)

(130,828

)

Total assets less current liabilities

(95,916

)

(78,175

)

Capital and reserves

Called up share capital

3

2

Profit and loss account

(95,918

)

(78,177

)

Shareholders' funds

(95,916

)

(78,175

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 October 2016 and were signed on its behalf by:

Ms P Jinman - Director

1.	Accounting policies

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents sales made during the year, exclusive of Value

Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the entity after deducting all of its financial liabilities.

Where contractual obligations of financial instruments (including share capital) are equivalent to a similar debt

instrument, those financial instruments are classified as financial liabilities. Financial liabilities are presented as

such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited to equity.

2.	Tangible fixed assets

Total

£

Cost

At 1 July 2015

81,010

Additions

2,159

At 30 June 2016

83,169

Depreciation

At 1 July 2015

28,357

Charge for year

8,550

At 30 June 2016

36,907

Net book value

At 30 June 2016

46,262

At 30 June 2015

52,653

3.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

4.	Directors' advances, credits and guarantees

The following advances and credits from directors subsisted during the years ended 30 June 2016 and

30 June 2015:

2016

2015

£

P C Jinman

Balance outstanding at start of year

73,736

88,917

Amounts repaid

-

(15,181

)

Balance outstanding at end of year

73,736

Ms P Jinman

Balance outstanding at start of year

937

Amounts advanced

676

-

Amounts repaid

-

Balance outstanding at end of year

1,613

937

There are no specific repayment terms and no interest is being charged on the above loans.

5.	Going concern

As at 30 June 2016 the company's liabilities exceeded its assets. The directors do not intend to recall the loans

to them.