J_&_L_(NI)_LIMITED - Accounts

J&L (NI) LIMITED - Company Information

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Company Registration No. NI072625 (Northern Ireland)

J & L (NI) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2016

J & L (NI) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

J & L (NI) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

24,145

35,060

Current assets

Stocks

322,671

209,897

Debtors

180,876

Cash at bank and in hand

413,660

159,948

736,331

550,721

Creditors: amounts falling due within one year

(320,281)

(228,338)

Net current assets

416,050

322,383

Total assets less current liabilities

440,195

357,443

Provisions for liabilities

(4,829)

(7,012)

435,366

350,431

Capital and reserves

Called up share capital

Profit and loss account

435,364

350,429

Shareholders' funds

435,366

350,431

For the financial Period ended 30 June 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 Period 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 5 December 2016

Mr James Ferguson

Director

Company Registration No. NI072625

J & L (NI) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 JUNE 2016

- 2 -

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

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

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

20% per annum

Fixtures, fittings & equipment

20% per annum

Motor vehicles

25% per annum

1.5

Stock

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

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

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.

J & L (NI) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 JUNE 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

71,743

Additions

9,021

Disposals

(17,512)

At 30 June 2016

63,252

Depreciation

At 1 April 2015

36,683

On disposals

(12,662)

Charge for the period

15,086

At 30 June 2016

39,107

Net book value

At 30 June 2016

24,145

At 31 March 2015

35,060

Creditors: amounts falling due within one year

Included in Other Creditors is £18,574 (2015 £2,484) owed to the Directors.

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary Shares of £1 each