JC Ely Ltd - Accounts to registrar - small 17.1

REGISTERED NUMBER: 09435323 (England and Wales)

JC Ely Ltd

Unaudited Financial Statements for the Year Ended 28 February 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

P Worts

REGISTERED OFFICE:

41 Market Pace

Long Sutton

PE12 9JA

REGISTERED NUMBER:

09435323 (England and Wales)

ACCOUNTANTS:

Salway and Wright

22 Church Street

Holbeach

Lincolnshire

PE12 7LL

FIXED ASSETS

Tangible assets

3

19,750

CURRENT ASSETS

Stocks

23,522

Debtors

4

1,215

Cash at bank

10,255

34,992

CREDITORS

Amounts falling due within one year

5

26,059

NET CURRENT ASSETS

8,933

TOTAL ASSETS LESS CURRENT LIABILITIES

28,683

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

28,682

SHAREHOLDERS' FUNDS

28,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 7 July 2017 and were signed by:

P Worts - Director

1.	STATUTORY INFORMATION

JC Ely Ltd 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.

Equipment

-

25% on reducing balance

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.

3.	TANGIBLE FIXED ASSETS

Equipment

£

COST

Additions

26,333

At 28 February 2017

26,333

DEPRECIATION

Charge for year

6,583

At 28 February 2017

6,583

NET BOOK VALUE

At 28 February 2017

19,750

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

1,215

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

14,522

Taxation and social security

11,537

26,059