JDS Supplies (Midlands) Ltd,Ltd - AccountsLtd - Accounts

JDS Supplies (Midlands) Ltd,Ltd - AccountsLtd - Accounts

JDS SUPPLIES(MIDLANDS) LIMITED - Company Information

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2016-06-01 08544101 2017-05-31 08544101 2016-06-01 2017-05-31 08544101 2016-05-31 08544101 2015-06-01 2016-05-31 08544101 uk-core:WithinOneYear 2016-05-31 08544101 uk-core:WithinOneYear 2017-05-31 08544101 uk-core:ShareCapital 2017-05-31 08544101 uk-core:ShareCapital 2016-05-31 08544101 uk-core:RetainedEarningsAccumulatedLosses 2017-05-31 08544101 uk-core:RetainedEarningsAccumulatedLosses 2016-05-31 08544101 uk-bus:Director1 2016-06-01 2017-05-31 08544101 uk-bus:Director2 2016-06-01 2017-05-31 08544101 uk-core:ToolsEquipment 2016-06-01 2017-05-31 08544101 uk-core:CommercialMotorVehicles 2016-06-01 2017-05-31 08544101 uk-core:ToolsEquipment 2016-05-31 08544101 uk-core:CommercialMotorVehicles 2016-05-31 08544101 uk-core:CommercialMotorVehicles 2017-05-31 08544101 uk-core:ToolsEquipment 2017-05-31 iso4217:GBP 08544101 uk-bus:AuditExemptWithAccountantsReport 2016-06-01 2017-05-31 08544101 uk-bus:FRS102 2016-06-01 2017-05-31 08544101 uk-bus:FullAccounts 2016-06-01 2017-05-31 08544101 uk-bus:PrivateLimitedCompanyLtd 2016-06-01 2017-05-31
JDS Supplies (Midlands) Ltd
Registered Number:08544101
For the year ended 31 May 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2017
JDS Supplies (Midlands) Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 May 2017
JDS Supplies (Midlands) Ltd
Statement of Financial Position
Registered Number :
08544101
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
17,266
23,083
2
17,266
23,083
Current assets
Inventories
34,193
46,343
3
Trade and other receivables
1,539
598
10,553
Cash and cash equivalents
4,904
51,845
46,285
Trade and other payables: amounts falling due within one year
(54,061)
(47,216)
4
(7,776)
4,629
Net current assets
Total assets less current liabilities
21,895
15,307
(3,281)
(4,616)
Provisions for liabilities
18,614
Net assets
10,691
Capital and reserves
Called up share capital
2
2
Retained earnings
18,612
10,689
18,614
10,691
Shareholders' funds
For the year ended 31 May 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
Mr John Michael Sutton Director
Mr Stephen William Cash Director
These financial statements were approved and authorised for issue by the Board on 14 August 2017 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2017
JDS Supplies (Midlands) Ltd
Notes to the Financial Statements
Statutory Information
JDS Supplies (Midlands) Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08544101.
Principal place of business:
66 Carthorse Lane
Brockhill
Redditch
Worcestershire
B97 6SZ
Registered address:
40 High Street
Pershore
Worcestershire
WR10 1DP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain
assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
33% Straight line
Computer equipment
25% Reducing balance
Motor vehicles
Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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5
For the year ended 31 May 2017
JDS Supplies (Midlands) Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Motor vehicles
£
£
£
Cost or valuation
At 01 June 2016
34,105
183
33,922
At 31 May 2017
33,922
183
34,105
Provision for depreciation and impairment
At 01 June 2016
11,022
122
10,900
Charge for year
5,817
61
5,756
At 31 May 2017
16,839
183
16,656
At 31 May 2017
Net book value
17,266
-
17,266
At 31 May 2016
23,022
61
23,083
3. Inventories
2016
2017
£
£
Stocks
46,343
34,193
Stock and work in progress is included at the lower of stock and net realisable value.
4. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
20,630
22,062
Taxation and social security
2,609
541
Other creditors
23,977
31,458
47,216
54,061
5. Average number of persons employed
During the year the average number of employees was 3 (2016 : 3)
6. Transition to FRS 102
The principal accounting polices applied in the preparation of the financial statements are set out above. These policies have
been consistently applied to all the years presented, unless otherwise stated. No changes have arisen as a result of the
transition to Section 1A of Financial Reporting Standard 102.
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