Jadelink UK Limited Small abridged accounts

Jadelink UK Limited Small abridged accounts

JADELINK UK LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of Jadelink UK Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 4643509
Jadelink UK Limited
Filleted Unaudited Abridged Financial Statements
31 December 2016
Jadelink UK Limited
Abridged Financial Statements
Year ended 31 December 2016
Contents
Page
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements
1
Abridged statement of financial position
2
Statement of changes in equity
4
Notes to the abridged financial statements
5
Jadelink UK Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Jadelink UK Limited
Year ended 31 December 2016
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 December 2016, which comprise the abridged statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HURSHENS LIMITED Chartered accountant
19-25 Salisbury Square Old Hatfield Herts AL9 5BT
28 September 2017
Jadelink UK Limited
Abridged Statement of Financial Position
31 December 2016
2016
2015
Note
£
£
£
Fixed assets
Tangible assets
4
–
346,829
Current assets
Debtors
166,240
165,101
Cash at bank and in hand
63,837
2,213
---------
---------
230,077
167,314
Creditors: amounts falling due within one year
13,993
14,373
---------
---------
Net current assets
216,084
152,941
---------
---------
Total assets less current liabilities
216,084
499,770
Creditors: amounts falling due after more than one year
5
–
130,315
---------
---------
Net assets
216,084
369,455
---------
---------
Jadelink UK Limited
Abridged Statement of Financial Position (continued)
31 December 2016
2016
2015
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Revaluation reserve
–
160,513
Profit and loss account
215,984
208,842
---------
---------
Members funds
216,084
369,455
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 28 September 2017 , and are signed on behalf of the board by:
Mr D M Lohan
Director
Company registration number: 4643509
Jadelink UK Limited
Statement of Changes in Equity
Year ended 31 December 2016
Called up share capital
Revaluation reserve
Profit and loss account
Total
Note
£
£
£
£
At 1 January 2015
100
–
206,027
206,127
Profit for the year
2,815
2,815
Other comprehensive income for the year:
Revaluation of tangible assets
4
–
160,513
–
160,513
----
---------
---------
---------
Total comprehensive income for the year
–
160,513
2,815
163,328
At 31 December 2015
100
160,513
208,842
369,455
Profit for the year
7,142
7,142
Other comprehensive income for the year:
Reclassification from revaluation reserve to profit and loss account
–
( 160,513)
–
( 160,513)
----
---------
---------
---------
Total comprehensive income for the year
–
( 160,513)
7,142
( 153,371)
----
---------
---------
---------
At 31 December 2016
100
–
215,984
216,084
----
---------
---------
---------
Jadelink UK Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2016
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19-25 Salisbury Square, Old Hatfield, Herts, AL9 5BT.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Buildings
-
1% straight line
Fixtures and Fittings
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
4. Tangible assets
£
Cost
At 1 January 2016
391,874
Disposals
( 391,874)
---------
At 31 December 2016
–
---------
Depreciation
At 1 January 2016 and 31 December 2016
–
---------
Carrying amount
At 31 December 2016
–
---------
At 31 December 2015
391,874
---------
5. Creditors: amounts falling due after more than one year
Bank loans were repaid during 2016, and carried an interest only charge of 2.5% above the Bank Base Rate. They are secured on the company's assets.
6. Related party transactions
The company was under the control of Mr D Lohan throughout the current and previous year. Mr D Lohan is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
7. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.