JSS (Cornwall) Limited - Period Ending 2016-12-31

 
 
 
 
 
 
 
  JSS (Cornwall) Limited
 
  Unaudited Abbreviated Accounts
  Period from 1 November 2015 to 31 December 2016

 
  Company Registration Number: 03916191

JSS (Cornwall) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

JSS (Cornwall) Limited
Abbreviated Balance Sheet
31 December 2016

		Note			31 December 2016 £			31 October 2015 £
Fixed assets
Intangible fixed assets		2			4,355			5,959
Tangible fixed assets		2			1,198			2,740
					5,553			8,699
Current assets
Debtors					15,337			42,015
Cash at bank and in hand					19			74,178
					15,356			116,193
Creditors: Amounts falling due within one year					(103,483)			(73,983)
Net current (liabilities)/assets					(88,127)			42,210
Total assets less current liabilities					(82,574)			50,909
Provisions for liabilities					-			(548)
Net (liabilities)/assets					(82,574)			50,361
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(82,674)			50,261
Shareholders' (deficit)/funds					(82,574)			50,361

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

JSS (Cornwall) Limited
Abbreviated Balance Sheet
31 December 2016 ......... continued

For the year ending 31 December 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 12 August 2017

H B D Standen
Director

Company Registration Number: 03916191

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

JSS (Cornwall) Limited
Notes to the Abbreviated Accounts
Period from 1 November 2015 to 31 December 2016 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis. The company has made a loss in the period and is showing net liabilities of £82,574 at the balance sheet date. However, the directors expect performance to improve in the year to 31 December 2017 and will continue to support the company for at least the next 12 months.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised in accordance with client contracts at the point of property exchange of contacts.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life of 20 years. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	5-10 years straight line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have orginated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

JSS (Cornwall) Limited
Notes to the Abbreviated Accounts
Period from 1 November 2015 to 31 December 2016 ......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2015		27,500			42,980			70,480
Additions		-			327			327
At 31 December 2016		27,500			43,307			70,807
Depreciation
At 1 November 2015		21,541			40,240			61,781
Charge for the period		1,604			1,869			3,473
At 31 December 2016		23,145			42,109			65,254
Net book value
At 31 December 2016		4,355			1,198			5,553
At 31 October 2015		5,959			2,740			8,699

3	Share capital

Allotted, called up and fully paid shares

	31 December 2016						31 October 2015
		No.			£			No.			£
Ordinary A shares of £1 each		82			82			82			82
Ordinary B shares of £1 each		18			18			18			18
		100			100			100			100

Page 4