J_B_FLOORTECH_LIMITED - Accounts

J B FLOORTECH LIMITED - Company Information

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Company Registration No. 03105097 (England and Wales)

J B FLOORTECH LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

J B FLOORTECH LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

J B FLOORTECH LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Current assets

Stocks

20,477

6,860

Debtors

21,997

133,417

Cash at bank and in hand

42,490

140,286

Creditors: amounts falling due within one year

(74,889)

(141,000)

Total assets less current liabilities

(32,399)

(714)

Capital and reserves

Called up share capital

Profit and loss account

(32,401)

(716)

Shareholders' funds

(32,399)

(714)

For the financial year ended 30 September 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 18 April 2017

G D Bilsdon

Director

Company Registration No. 03105097

J B FLOORTECH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 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).

The financial statements have been drawn up on the basis that the company is a going concern. The validity of the going concern basis of accounting depends on the continuing support of the Directors. They have confirmed that it is not their intention to withdraw the support for the company in the foreseeable future and will not seek repayment the loans to the company unless the company's cashflow permits repayment to be made without jeopardising the company's position.

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:

Computer equipment

33% on cost

Fixtures, fittings & equipment

25% on cost

Motor vehicles

25% on cost

1.5

Stock

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

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

J B FLOORTECH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Related party relationships and transactions

Loans from directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

J D Bilsdon - Loan from director

5,037

4,995

G D Bilsdon - Loan from director

5,038

4,996

10,075

9,991

Included in other creditors are interest free loans from the directors. There are no fixed terms for repayment.