Jeannette McLellan Limited - Limited company accounts 17.3

REGISTERED NUMBER: 04843124 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Jeannette McLellan Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Ms J McLellan

SECRETARY:

REGISTERED OFFICE:

Broga Fach

Llanmadoc

Swansea

SA3 1DB

REGISTERED NUMBER:

04843124 (England and Wales)

ACCOUNTANTS:

Jeannette McLellan Ltd

Broga Fach

Llanmadoc

Swansea

West Glamorgan

SA3 1DB

The director presents her report with the financial statements of the company for the year ended 30 September 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Accounting and taxation services

DIRECTOR

Ms J McLellan held office during the whole of the period from 1 October 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Ms J McLellan - Director

18 March 2018

TURNOVER

81,732

73,331

Cost of sales

3,065

(9,100

)

GROSS PROFIT

78,667

82,431

Administrative expenses

28,342

17,517

OPERATING PROFIT

4

50,325

64,914

Interest receivable and similar income

5,398

1,422

PROFIT BEFORE TAXATION

55,723

66,336

Tax on profit

10,917

13,731

PROFIT FOR THE FINANCIAL YEAR

44,806

52,605

FIXED ASSETS

Intangible assets

5

10,560

3,466

Tangible assets

6

3,441

1,649

14,001

5,115

CURRENT ASSETS

Stocks

10,682

12,682

Debtors

7

9,470

6,715

Prepayments and accrued income

77

77

Cash at bank

27,790

130,604

48,019

150,078

CREDITORS

Amounts falling due within one year

8

56,192

157,052

NET CURRENT LIABILITIES

(8,173

)

(6,974

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,828

(1,859

)

CREDITORS

Amounts falling due after more than one year

9

(50,692

)

(43,573

)

NET ASSETS

56,520

41,714

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

56,510

41,704

SHAREHOLDERS' FUNDS

56,520

41,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 18 March 2018 and were signed by:

Ms J McLellan - Director

1.	STATUTORY INFORMATION

Jeannette McLellan 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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 equipment - 25% reducing balance

Fixtures and fittings - 25% reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees during the year was 1 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.17

30.9.16

£

£

Depreciation - owned assets

2,164

1,564

Goodwill amortisation

1,216

385

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

3,851

Additions

8,310

At 30 September 2017

12,161

AMORTISATION

At 1 October 2016

385

Charge for year

1,216

At 30 September 2017

1,601

NET BOOK VALUE

At 30 September 2017

10,560

At 30 September 2016

3,466

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2016

2,521

5,049

7,570

Additions

-

3,956

3,956

At 30 September 2017

2,521

9,005

11,526

DEPRECIATION

At 1 October 2016

1,973

3,948

5,921

Charge for year

283

1,881

2,164

At 30 September 2017

2,256

5,829

8,085

NET BOOK VALUE

At 30 September 2017

265

3,176

3,441

At 30 September 2016

548

1,101

1,649

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

9,470

6,715

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

1

-

Taxation and social security

10,829

13,731

Other creditors

45,362

143,321

56,192

157,052

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Other creditors

(50,692

)

(43,573

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company was owed by the director £4638 (20146 £(143,321) as at 30 September 2017..

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms J McLellan.