JP Timber Frames Ltd Small abridged accounts
JP Timber Frames Ltd Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
NI613705
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Abridged Financial Statements |
Year ended 31 July 2017
Contents |
Page |
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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Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 31 July 2017
1b Brookmount Crescent
Omagh
Co Tyrone
BT78 5HG
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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
Stocks |
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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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-------- |
-------- |
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Total assets less current liabilities |
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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 |
7 |
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Profit and loss account |
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-------- |
-------- |
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Shareholders 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
30 April 2018
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
NI613705
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Notes to the Abridged Financial Statements |
Year ended 31 July 2017
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 48 Altinure Road, Derry, Co Derry, BT47 4DE, N Ireland.
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 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
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:
Goodwill |
- |
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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:
Plant & machinery |
- |
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Office equipment |
- |
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Impairment of fixed assets
Stocks
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2016:
1
).
5.
Intangible assets
£ |
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Cost |
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At 1 August 2016 and 31 July 2017 |
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-------- |
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Amortisation |
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At 1 August 2016 |
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Charge for the year |
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-------- |
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At 31 July 2017 |
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-------- |
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Carrying amount |
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At 31 July 2017 |
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-------- |
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At 31 July 2016 |
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-------- |
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6.
Tangible assets
£ |
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Cost |
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At 1 August 2016 |
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Additions |
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-------- |
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At 31 July 2017 |
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-------- |
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Depreciation |
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At 1 August 2016 |
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Charge for the year |
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-------- |
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At 31 July 2017 |
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-------- |
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Carrying amount |
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At 31 July 2017 |
32,686 |
-------- |
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At 31 July 2016 |
24,519 |
-------- |
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7.
Called up share capital
Issued, called up and fully paid
2017 |
2016 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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8.
Related party transactions
The company was under the control of
Mr S O'Neill
and Mrs H O'Neill
, directors and shareholders, throughout the current year.
9.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2015.
No transitional adjustments were required in equity or profit or loss for the year.