SJT Electrical Supplies Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01646933 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

SJT ELECTRICAL SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S Tappin

SECRETARY:

Mrs B M Tappin

REGISTERED OFFICE:

12 Romney Place

Maidstone

Kent

ME15 6LE

REGISTERED NUMBER:

01646933 (England and Wales)

ACCOUNTANTS:

Mackenzies

Chartered Accountants

12 Romney Place

Maidstone

Kent

ME15 6LE

FIXED ASSETS

Tangible assets

4

1,893

2,150

CURRENT ASSETS

Stocks

133,998

161,000

Debtors

5

396,630

300,535

Cash at bank

276,774

75,344

807,402

536,879

CREDITORS

Amounts falling due within one year

6

205,819

181,001

NET CURRENT ASSETS

601,583

355,878

TOTAL ASSETS LESS CURRENT LIABILITIES

603,476

358,028

CAPITAL AND RESERVES

Called up share capital

7

110

110

Retained earnings

603,366

357,918

SHAREHOLDERS' FUNDS

603,476

358,028

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 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 Profit & loss account has not been delivered.

The financial statements were approved by the director on 24 November 2017 and were signed by:

Mr S Tappin - Director

1.	STATUTORY INFORMATION

SJT Electrical Supplies 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

4,718

2,506

7,224

Additions

77

-

77

At 31 March 2017

4,795

2,506

7,301

DEPRECIATION

At 1 April 2016

2,568

2,506

5,074

Charge for year

334

-

334

At 31 March 2017

2,902

2,506

5,408

NET BOOK VALUE

At 31 March 2017

1,893

-

1,893

At 31 March 2016

2,150

-

2,150

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

334,625

269,158

Directors' current accounts

60,722

29,905

Prepayments

1,283

1,472

396,630

300,535

Included within debtors is an amount of £60,722 (2016: £29,905) in respect of an overdrawn directors loan

account. Interest was charged by the company at a rate of 3%.

The overdrawn directors loan was completely repaid on 6th April 2017 as a result of further dividends being

declared on that date.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

120,027

134,348

Tax

69,846

37,848

VAT

14,146

7,005

Accruals and deferred income

1,800

1,800

205,819

181,001

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10

Ordinary A

£1

10

10

110

110

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Tappin.

9.	FIRST YEAR ADOPTION OF FRS 102

The company is adopting FRS 102 for the first time. The company qualifies as a 'small entity' within the meaning

of the new reporting standard, and is therefore entitled to, and has taken advantage of, certain financial reporting

simplifications under Section 1A.

There was no impact on the current and comparative figures.