Jinsuns Ltd - Period Ending 2016-02-29

Registration number: 05220586

Jinsuns Ltd

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

Axel Chartered Accountants
Suite 3
12 Princess Street
Knutsford
Cheshire
WA16 6DD

Jinsuns 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 Director on the Preparation of the Unaudited Statutory Accounts of
Jinsuns Ltd
for the Year Ended 29 February 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jinsuns Ltd for the year ended 29 February 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 Jinsuns 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 Jinsuns 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 Jinsuns Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jinsuns 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 loss of Jinsuns Ltd. You consider that Jinsuns 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 Jinsuns 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.

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

Axel Chartered Accountants
Suite 3
12 Princess Street
Knutsford
Cheshire
WA16 6DD

23 November 2016

Page 1

Jinsuns Ltd
(Registration number: 05220586)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					16,833			16,833
Tangible fixed assets					-			522
					16,833			17,355
Current assets
Stocks					74,000			42,500
Debtors					633			500
Cash at bank and in hand					250			3,944
					74,883			46,944
Creditors: Amounts falling due within one year					(91,513)			(59,835)
Net current liabilities					(16,630)			(12,891)
Net assets					203			4,464
Capital and reserves
Called up share capital		3			85,300			85,300
Profit and loss account					(85,097)			(80,836)
Shareholders' funds					203			4,464

For the year ending 29 February 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 director acknowledges her 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 director on 23 November 2016

.........................................
Ms S Wild
Director

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

Jinsuns Ltd
Notes to the Abbreviated Accounts for the Year Ended 29 February 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.

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
Improvements to property	10% on cost
Computer equipment	25% on cost
Fixtures and fittings	25% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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

Jinsuns Ltd
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 March 2015		16,833			35,627			52,460
At 29 February 2016		16,833			35,627			52,460
Depreciation
At 1 March 2015		-			35,105			35,105
Charge for the year		-			522			522
At 29 February 2016		-			35,627			35,627
Net book value
At 29 February 2016		16,833			-			16,833
At 28 February 2015		16,833			522			17,355

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100
Ordinary B of £1 each		85,200			85,200			85,200			85,200
		85,300			85,300			85,300			85,300

Page 4