Just Digital Limited - Limited company accounts 16.3

REGISTERED NUMBER: 04954829 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Just Digital Limited

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DIRECTOR:

A Hill

REGISTERED OFFICE:

8 Kingfisher Way

Hinchingbrooke Business Park

Huntingdon

Cambridgeshire

PE29 6FN

REGISTERED NUMBER:

04954829 (England and Wales)

ACCOUNTANTS:

Sterlings Accountancy Solutions Limited

111 High Street

Billericay

Essex

CM12 9AJ

The director presents his report with the financial statements of the company for the year ended 31 December 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of printers.

DIRECTOR

A Hill held office during the whole of the period from 1 January 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

A Hill - Director

2 May 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Just Digital Limited for the year ended 31 December 2016 which comprise the Income Statement,

Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Just Digital Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Just Digital Limited and state those matters that we have agreed to state to the director of Just Digital Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Just Digital Limited director for our work or for this report.

It is your duty to ensure that Just Digital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Just Digital Limited. You consider that Just Digital Limited 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 financial statements of Just Digital Limited. 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 financial statements.

Sterlings Accountancy Solutions Limited

111 High Street

Billericay

Essex

CM12 9AJ

2 May 2017

TURNOVER

7,537,700

6,417,968

Cost of sales

5,241,589

4,549,269

GROSS PROFIT

2,296,111

1,868,699

Administrative expenses

1,306,453

1,088,343

OPERATING PROFIT

4

989,658

780,356

Interest receivable and similar income

2,997

1,469

992,655

781,825

Interest payable and similar expenses

59,884

69,216

PROFIT BEFORE TAXATION

932,771

712,609

Tax on profit

246,909

60,449

PROFIT FOR THE FINANCIAL YEAR

685,862

652,160

FIXED ASSETS

Tangible assets

5

725,091

1,089,493

CURRENT ASSETS

Stocks

348,435

208,592

Debtors

6

1,384,271

1,713,304

Cash at bank and in hand

1,377,398

447,082

3,110,104

2,368,978

CREDITORS

Amounts falling due within one year

7

941,979

807,037

NET CURRENT ASSETS

2,168,125

1,561,941

TOTAL ASSETS LESS CURRENT LIABILITIES

2,893,216

2,651,434

CREDITORS

Amounts falling due after more than one year

8

(384,235

)

(586,710

)

ACCRUALS AND DEFERRED INCOME

(88,944

)

(143,549

)

NET ASSETS

2,420,037

1,921,175

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Capital redemption reserve

20,000

20,000

Retained earnings

2,380,037

1,881,175

SHAREHOLDERS' FUNDS

2,420,037

1,921,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 May 2017 and were signed by:

A Hill - Director

1.	STATUTORY INFORMATION

Just Digital Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost and 20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 118 (2015 - 100 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.16

31.12.15

£

£

Depreciation - owned assets

173,810

196,856

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2016

109,755

1,395,865

571,163

32,556

2,109,339

Additions

-

8,800

61,398

-

70,198

Disposals

-

-

(1,218

)

-

(1,218

)

At 31 December 2016

109,755

1,404,665

631,343

32,556

2,178,319

DEPRECIATION

At 1 January 2016

10,274

784,492

203,896

21,184

1,019,846

Charge for year

7,317

277,517

141,627

8,139

434,600

Eliminated on disposal

-

-

(1,218

)

-

(1,218

)

At 31 December 2016

17,591

1,062,009

344,305

29,323

1,453,228

NET BOOK VALUE

At 31 December 2016

92,164

342,656

287,038

3,233

725,091

At 31 December 2015

99,481

611,373

367,267

11,372

1,089,493

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2016

931,237

77,435

30,874

1,039,546

Transfer to ownership

(50,000

)

-

-

(50,000

)

At 31 December 2016

881,237

77,435

30,874

989,546

DEPRECIATION

At 1 January 2016

409,483

19,359

20,763

449,605

Charge for year

233,713

19,359

7,718

260,790

Transfer to ownership

(39,850

)

-

-

(39,850

)

At 31 December 2016

603,346

38,718

28,481

670,545

NET BOOK VALUE

At 31 December 2016

277,891

38,717

2,393

319,001

At 31 December 2015

521,754

58,076

10,111

589,941

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

998,865

1,366,917

Other debtors

385,406

346,387

1,384,271

1,713,304

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

202,475

191,040

Trade creditors

408,990

408,732

Taxation and social security

246,909

116,745

Other creditors

83,605

90,520

941,979

807,037

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

384,235

586,710

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Hire purchase contracts

586,710

777,750

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

31.12.16

31.12.15

£

£

A Hill

Balance outstanding at start of year

10,291

(752

)

Amounts advanced

364,657

182,043

Amounts repaid

(262,359

)

(171,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

112,589

10,291

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £187,000 were paid to the director .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is A Hill.