JPL Accountancy Services Ltd - Period Ending 2016-03-31

Registration number: 06117325

JPL Accountancy Services Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

JPL
110 Chandos Avenue
Whetstone
London
N20 9DZ

JPL Accountancy Services Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
JPL Accountancy Services Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JPL Accountancy Services Ltd for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of JPL Accountancy Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JPL Accountancy Services Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JPL Accountancy Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JPL Accountancy Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JPL Accountancy Services Ltd. You consider that JPL Accountancy Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of JPL Accountancy Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

JPL
110 Chandos Avenue
Whetstone
London
N20 9DZ

24 October 2016

Page 1

JPL Accountancy Services Ltd
(Registration number: 06117325)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					15,629			26,250
Tangible fixed assets					1,648			2,742
					17,277			28,992
Current assets
Debtors					9,113			27,672
Cash at bank and in hand					80,230			47,610
					89,343			75,282
Creditors: Amounts falling due within one year					(30,678)			(32,259)
Net current assets					58,665			43,023
Net assets					75,942			72,015
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					75,842			71,915
Shareholders' funds					75,942			72,015

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 24 October 2016 and signed on its behalf by:

......................................... Mrs Hazel Lishak Director

......................................... Mr Jon Philip Lishak Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

JPL Accountancy Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	straight line over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Inprovements to Freehold Property	Straight line over 5 years
Office equipment	25% on reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

JPL Accountancy Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		131,250			13,668			144,918
Additions		2,782			1,455			4,237
At 31 March 2016		134,032			15,123			149,155
Depreciation
At 1 April 2015		105,000			10,926			115,926
Charge for the year		13,403			2,549			15,952
At 31 March 2016		118,403			13,475			131,878
Net book value
At 31 March 2016		15,629			1,648			17,277
At 31 March 2015		26,250			2,742			28,992

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4