Eurojag Limited - Abbreviated accounts

Registered number

03076390

Eurojag Limited

Abbreviated Accounts

31 July 2016

Eurojag Limited
Registered number:		03076390
Abbreviated Balance Sheet
as at 31 July 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		44,707			42,306

Current assets
Stocks		961,696			897,758
Debtors		163,285			106,290
Cash at bank and in hand		10,576			13,849
		1,135,557			1,017,897

Creditors: amounts falling due within one year		(575,915)			(472,103)

Net current assets			559,642			545,794

Total assets less current liabilities			604,349			588,100

Creditors: amounts falling due after more than one year			(23,734)			(70,366)

Net assets			580,615			517,734

Capital and reserves
Called up share capital	3		1,000			1,000
Profit and loss account			579,615			516,734

Shareholders' funds			580,615			517,734

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



P F Robertshaw
Director
Approved by the board on 27 April 2017

Eurojag Limited
Notes to the Abbreviated Accounts
for the year ended 31 July 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			15% reducing balance
	Fixtures and fittings			10% reducing balance
	Computer equipment			25% straight line
	Motor vehicles			25% reducing balance

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

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 August 2015					175,487
	Additions					12,000
	At 31 July 2016					187,487

	Depreciation
	At 1 August 2015					133,181
	Charge for the year					9,599
	At 31 July 2016					142,780

	Net book value
	At 31 July 2016					44,707
	At 31 July 2015					42,306


3	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1,000		1,000		1,000