Jigsol Business Solutions Limited Small abridged accounts
Jigsol Business Solutions Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
06342554
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Abridged Financial Statements |
Year ended 30 April 2017
Contents |
Page |
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
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Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 30 April 2017
Athene House
86 The Broadway
Mill Hill
London
NW7 3TD
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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--------- |
--------- |
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Current assets
Debtors |
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Cash at bank and in hand |
– |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
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--------- |
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Net current assets/(liabilities) |
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(
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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– |
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Provisions
Taxation including deferred tax |
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– |
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--------- |
-------- |
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Net assets |
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-------- |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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-------- |
-------- |
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Members funds |
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-------- |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
31 January 2018
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
06342554
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Notes to the Abridged Financial Statements |
Year ended 30 April 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Athene House, Suite J, 86 The Broadway, Mill Hill, London, NW7 3TD, United Kingdom.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 May 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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- |
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Impairment of fixed assets
Provisions
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to
8
(2016:
8
).
5.
Intangible assets
£ |
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Cost |
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At 1 May 2016 and 30 April 2017 |
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--------- |
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Amortisation |
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At 1 May 2016 |
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Charge for the year |
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--------- |
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At 30 April 2017 |
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Carrying amount |
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At 30 April 2017 |
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At 30 April 2016 |
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6.
Tangible assets
£ |
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Cost |
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At 1 May 2016 |
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Additions |
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Disposals |
(
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-------- |
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At 30 April 2017 |
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-------- |
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Depreciation |
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At 1 May 2016 |
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Charge for the year |
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Disposals |
(
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-------- |
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At 30 April 2017 |
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-------- |
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Carrying amount |
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At 30 April 2017 |
15,016 |
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At 30 April 2016 |
16,525 |
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7.
Related party transactions
The company directors and shareholders are the ultimate controlling party during the current and previous year. During the accounting period the company incurred expenditure of £44,353 (2016 - £62,671) with Jigsol Limited, a company owned by the directors Mr S and Mrs M Levy. At the year end the company owed Jigsol Limited £18,899 (2016- £25,339). During the accounting period the company paid dividends of £48,000 (2016 £5,476) to the directors.
8.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2015.
No transitional adjustments were required in equity or profit or loss for the year.