J & J Davies Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05306439 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

J & J DAVIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs H M Davies

P M Davies

SECRETARY:

Mrs H M Davies

REGISTERED OFFICE:

The Swan Inn

Whiston

Penkridge

Staffordshire

ST19 5QH

REGISTERED NUMBER:

05306439 (England and Wales)

ACCOUNTANTS:

Wright & Co Partnership Limited

Chartered Accountants

5 Walsall Street

Wednesbury

West Midlands

WS10 9BZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

15,821

16,865

15,821

16,865

CURRENT ASSETS

Stocks

2,817

2,952

Debtors

5,443

2,609

Cash at bank and in hand

189,223

134,261

197,483

139,822

CREDITORS

Amounts falling due within one year

151,162

142,020

NET CURRENT ASSETS/(LIABILITIES)

46,321

(2,198

)

TOTAL ASSETS LESS CURRENT LIABILITIES

62,142

14,667

PROVISIONS FOR LIABILITIES

2,901

2,901

NET ASSETS

59,241

11,766

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

59,239

11,764

SHAREHOLDERS' FUNDS

59,241

11,766

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 10 November 2017 and were signed on its behalf by:

Mrs H M Davies - Director

1.	STATUTORY INFORMATION

J & J Davies 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

15% on reducing balance

Fixtures and fittings

-

15% 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

60,000

AMORTISATION

At 1 April 2016

and 31 March 2017

60,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

52,642

Additions

1,748

At 31 March 2017

54,390

DEPRECIATION

At 1 April 2016

35,777

Charge for year

2,792

At 31 March 2017

38,569

NET BOOK VALUE

At 31 March 2017

15,821

At 31 March 2016

16,865

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends paid to director:

Dividends paid to directors in their capacity as shareholders during the year totalled £10,000.

7.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by Mrs H M Davies & Mr P M Davies, directors,by virtue of their

ownership of 100% of the company's issued share capital.