JENKINS_DIY_LIMITED - Accounts

JENKINS DIY LIMITED - Company Information

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Company Registration No. SC394054 (Scotland)

JENKINS DIY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

JENKINS DIY LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

JENKINS DIY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

11,248

12,854

Current assets

Stocks

17,267

17,856

Debtors

5,202

4,520

Cash at bank and in hand

20,250

15,418

42,719

37,794

Creditors: amounts falling due within one year

(39,449)

(39,055)

Net current assets/(liabilities)

3,270

(1,261)

Total assets less current liabilities

14,518

11,593

Creditors: amounts falling due after more than one year

(2,936)

Provisions for liabilities

(2,025)

(2,571)

12,493

6,086

Capital and reserves

Called up share capital

150

Profit and loss account

12,343

5,936

Shareholders' funds

12,493

6,086

JENKINS DIY LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

29 FEBRUARY 2016

- 2 -

For the financial year ended 29 February 2016 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 28 November 2016

C Jenkins

Director

Company Registration No. SC394054

JENKINS DIY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 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).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

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:

Plant and machinery

25% on reducing balance

Computer equipment

33% on cost

Fixtures, fittings & equipment

15% on reducing balance

Motor vehicles

25% on reducing balance

1.4

Stock

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

1.5

Deferred taxation

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.

Fixed assets

Tangible assets

Cost

At 1 March 2015

23,241

Additions

1,740

At 29 February 2016

24,981

Depreciation

At 1 March 2015

10,387

Charge for the year

3,346

At 29 February 2016

13,733

Net book value

At 29 February 2016

11,248

At 28 February 2015

12,854

JENKINS DIY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £2,937 (2015 - £3,733).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £2,937).

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary Class A of £1 each

100

50 Ordinary Class B of £1 each

150