Jim Stokes Workshops Holdings Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07068547 (England and Wales)

JIM STOKES WORKSHOPS HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

Mrs H A Stokes

Mr J E Stokes

SECRETARY:

Mrs H A Stokes

REGISTERED OFFICE:

24 Park Road South

Havant

Hampshire

PO9 1HB

REGISTERED NUMBER:

07068547 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

FIXED ASSETS

Tangible assets

4

25,115

31,906

Investments

5

301

301

25,416

32,207

CURRENT ASSETS

Debtors

6

464,724

1,297,933

Cash at bank

241,826

9,889

706,550

1,307,822

CREDITORS

Amounts falling due within one year

7

317,805

1,140,230

NET CURRENT ASSETS

388,745

167,592

TOTAL ASSETS LESS CURRENT LIABILITIES

414,161

199,799

CREDITORS

Amounts falling due after more than one year

8

327

2,266

NET ASSETS

413,834

197,533

CAPITAL AND RESERVES

Called up share capital

1,333

1,333

Retained earnings

412,501

196,200

SHAREHOLDERS' FUNDS

413,834

197,533

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 28 November 2017 and were signed on its behalf by:

Mrs H A Stokes - Director

1.	STATUTORY INFORMATION

Jim Stokes Workshops Holdings 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.

The financial statements are presented in sterling (£) and rounded to the nearest pound (£).

Preparation of consolidated financial statements

The financial statements contain information about Jim Stokes Workshops Holdings Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of financial statements requires the use of estimates and assumptions that affect reported

amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the

reporting period. These estimates and assumptions are based on management's best knowledge of the amount,

event or actions. Actual results may differ from those amounts.

Significant estimates

Depreciation policies are based on the expected useful lives and economic lives of the different categories of

assets. The directors have used their experience and knowledge of the business to estimate these influencing

factors.

Turnover recognition

Turnover represents the value of management services supplied, excluding value added tax and is recognised

upon provision of the service.

Tangible fixed assets

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

life:

Plant and machinery - 25% on reducing balance

Office equipment - 25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are included at cost less impairment.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 12 .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

machinery

Equipment

Totals

£

£

£

COST

At 1 August 2016

60,138

13,968

74,106

Additions

-

1,582

1,582

At 31 July 2017

60,138

15,550

75,688

DEPRECIATION

At 1 August 2016

34,928

7,272

42,200

Charge for year

6,302

2,071

8,373

At 31 July 2017

41,230

9,343

50,573

NET BOOK VALUE

At 31 July 2017

18,908

6,207

25,115

At 31 July 2016

25,210

6,696

31,906

Included within the net book value of £25,115 (2016: £31,906) is £3,029 (2016: £14,835) relating to assets held

under hire purchase contracts and finance lease agreements. During the year, an asset held under a hire

purchase contract was transferred to owned assets. The depreciation charged to the accounts in respect of

assets held under hire purchase contracts amounted to £2,134 (2016: £4,945).

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2016

and 31 July 2017

301

NET BOOK VALUE

At 31 July 2017

301

At 31 July 2016

301

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

445,426

1,274,959

VAT

4,322

4,589

Deferred tax asset

3,197

3,848

Prepayments and accrued income

11,779

14,537

464,724

1,297,933

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

1,939

5,131

Trade creditors

15,545

14,357

Amounts owed to group undertakings

19,673

1,034,465

Tax

12,906

24,288

Social security and other taxes

7,072

5,220

Other creditors

188,812

15,000

Directors' loan accounts

60,764

25,553

Accruals and deferred income

11,094

16,216

317,805

1,140,230

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 9)

327

2,266

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Net obligations repayable:

Within one year

1,939

5,131

Between one and five years

327

2,266

2,266

7,397

Non-cancellable

operating leases

2017

2016

£

£

Within one year

40,425

53,900

Between one and five years

-

40,425

40,425

94,325

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

2,266

7,397

The hire purchase is secured against the asset to which it relates.

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the benefit of the directors and employees.

The assets of the scheme are administered by trustees in a fund independent from those of the company.

The total contributions paid to the scheme during the year amounted to £10,175 (2016: £9,541). There were no

contributions owed to the scheme at the year end (2016: £nil).

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £100,000 were paid to the directors .

13.	FIRST YEAR ADOPTION

The company has adopted FRS 102 Section 1A from 1 August 2016 for the year ended 31 July 2017. There are

no re-statements required under the new standard for earlier periods which were prepared under previous UK

GAAP.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Jim Stokes Workshops Holdings Limited for the year ended 31 July 2017 which comprise the

Income Statement, Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jim Stokes Workshops Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jim Stokes Workshops Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Jim Stokes Workshops Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jim Stokes Workshops Holdings Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jim Stokes Workshops Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jim Stokes Workshops Holdings Limited. You consider that Jim Stokes Workshops Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jim Stokes Workshops Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

28 November 2017