Just Corner Shop Ltd - Accounts

Just Corner Shop Ltd - Accounts

JUST CORNER SHOP LTD - Company Information

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Registered Number : 08918229
England and Wales

 

 

 

JUST CORNER SHOP LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

Just Corner Shop Ltd
Contents Page
For the year ended 31 March 2017
As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2017 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
Temiz & Co Accountants
121 James Street
Gillingham
Kent
ME7 1DJ
28 December 2017
1
 
 		 Notes
 		 2017
£		   2016
£
Fixed assets      
Intangible fixed assets 2 29,003    31,310 
Tangible fixed assets 3 2,977    1,969 
31,980    33,279 
Current assets      
Stocks 16,500    14,500 
Debtors 1,233    (254)
Cash at bank and in hand 11,037    3,871 
28,770    18,117 
Creditors: amount falling due within one year (8,386)   (12,067)
Net current assets 20,384    6,050 
 
Total assets less current liabilities 52,364    39,329 
Creditors: amount falling due after more than one year (19,356)   (19,420)
Net assets 33,008    19,909 
 

Capital and reserves 		     
Profit and loss account 33,008    19,908 
Shareholders funds 33,008    19,908 
 


For the year ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of abridged accounts.
Signed on behalf of the board of directors


--------------------------------
Huseyin Hisir
Director

Date approved by the board: 28 December 2017
2
Statutory Information
Just Corner Shop Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 08918229.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 14 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Intangible fixed assets

Cost or Valuation Goodwill   Other   Total
  £   £   £
At 01 April 2016 30,000    3,618    33,618 
Additions -    -    - 
Disposals -    -    - 
At 31 March 2017 30,000    3,618    33,618 
Amortisation
At 01 April 2016 2,308    -    2,308 
Charge for year 2,307    -    2,307 
On disposals -    -    - 
At 31 March 2017 4,615    -    4,615 
Net book values
At 31 March 2017 25,385    3,618    29,003 
At 31 March 2016 27,692    3,618    31,310 


3.

Tangible fixed assets

Cost or Valuation Fixtures and Fittings   Total
  £   £
At 01 April 2016 2,625    2,625 
Additions 2,000    2,000 
Disposals -    - 
At 31 March 2017 4,625    4,625 
Depreciation
At 01 April 2016 656    656 
Charge for year 992    992 
On disposals -    - 
At 31 March 2017 1,648    1,648 
Net book values
Closing balance as at 31 March 2017 2,977    2,977 
Opening balance as at 01 April 2016 1,969    1,969 


4.

Share Capital

Authorised
100 Class A shares of £1.00 each

Allotted
2017
£		   2016
£
100 Class A shares of £1.00 each 100    100 
100    100 

3