Jol Business Solutions Ltd - Period Ending 2017-05-31

Registration number: 05803183

Jol Business Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2017

Jol Business Solutions Ltd

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Jol Business Solutions Ltd

(Registration number: 05803183)
Balance Sheet as at 31 May 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	743	466
Current assets
Debtors	5	14,652	24,482
Cash at bank and in hand		287,017	284,047
		301,669	308,529
Creditors: Amounts falling due within one year	6	(30,018)	(37,701)
Net current assets		271,651	270,828
Net assets		272,394	271,294
Capital and reserves
Called up share capital		100	100
Profit and loss account		272,294	271,194
Total equity		272,394	271,294

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 3 January 2018
 

.........................................

Mr S Rix

Director

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

Jol Business Solutions Ltd

Notes to the Financial Statements for the Year Ended 31 May 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
2 High Street
Great Linford Village
Milton Keynes
Bucks
MK14 5AX
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Page 2

Jol Business Solutions Ltd

Notes to the Financial Statements for the Year Ended 31 May 2017

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for management services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

Page 3

Jol Business Solutions Ltd

Notes to the Financial Statements for the Year Ended 31 May 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2016	3,815	3,815
Additions	827	827
Disposals	(3,469)	(3,469)
At 31 May 2017	1,173	1,173
Depreciation
At 1 June 2016	3,349	3,349
Charge for the year	113	113
Eliminated on disposal	(3,032)	(3,032)
At 31 May 2017	430	430
Carrying amount
At 31 May 2017	743	743
At 31 May 2016	466	466

5

Debtors

	2017 £	2016 £
Trade debtors	14,652	24,482
Total current trade and other debtors	14,652	24,482

6

Creditors

	Note	2017 £	2016 £
Due within one year
Taxation and social security		28,594	36,706
Other creditors		1,424	995
		30,018	37,701

Page 4

Jol Business Solutions Ltd

Notes to the Financial Statements for the Year Ended 31 May 2017

7	Related party transactions

Transactions with directors

Mr S Rix (a director of the company) had a loan with the company. At the balance sheet date the amount due to Mr S Rix was £844 (2016: £415).

8	Transition to FRS 102

There were no changes required as a result of transition to FRS 102.

Page 5