J Brafman Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00551985 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

J Brafman Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Brafman

SECRETARY:

Mrs M Brafman

REGISTERED OFFICE:

Liberty House

222 Regent Street

London

W1B 5TR

REGISTERED NUMBER:

00551985 (England and Wales)

ACCOUNTANTS:

Harrison North

Liberty House

222 Regent Street

London

W1B 5TR

CURRENT ASSETS

Stocks

39,667

29,728

Debtors

5

14,719

7,287

Cash at bank

57,512

72,114

111,898

109,129

CREDITORS

Amounts falling due within one year

6

29,259

24,481

NET CURRENT ASSETS

82,639

84,648

TOTAL ASSETS LESS CURRENT LIABILITIES

82,639

84,648

CREDITORS

Amounts falling due after more than one year

7

112,947

118,663

NET LIABILITIES

(30,308

)

(34,015

)

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

(30,808

)

(34,515

)

SHAREHOLDERS' FUNDS

(30,308

)

(34,015

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

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 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 24 August 2017 and were signed by:

D Brafman - Director

1.	STATUTORY INFORMATION

J Brafman 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.

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 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

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

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

13,293

DEPRECIATION

At 1 June 2016

and 31 May 2017

13,293

NET BOOK VALUE

At 31 May 2017

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Other debtors

14,719

7,287

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

2,691

6,446

Trade creditors

21,823

5,599

Taxation and social security

1,083

4,945

Other creditors

3,662

7,491

29,259

24,481

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Other creditors

112,947

118,663