JK LEISURE CLOTHING LIMITED

JK LEISURE CLOTHING LIMITED

JK LEISURE CLOTHING LIMITED - Company Information

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JK LEISURE CLOTHING LIMITED

Company Registration Number:
05330803 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2017

Period of accounts

Start date: 01 August 2016

End date: 31 July 2017

JK LEISURE CLOTHING LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2017

Balance sheet
Notes

JK LEISURE CLOTHING LIMITED

Balance sheet

As at 31 July 2017


Notes
2017
2016


£
£
Fixed assets
Intangible assets: 3 18,000 27,000
Tangible assets: 4 1,825 0
Total fixed assets: 19,825 27,000
Current assets
Debtors:   26,227 25,256
Cash at bank and in hand: 28,569 49,613
Total current assets: 54,796 74,869
Creditors: amounts falling due within one year:   (73,609) (99,577)
Net current assets (liabilities): (18,813) (24,708)
Total assets less current liabilities: 1,012 2,292
Total net assets (liabilities): 1,012 2,292
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 12 1,292
Shareholders funds: 1,012 2,292

The notes form part of these financial statements

JK LEISURE CLOTHING LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 March 2018
and signed on behalf of the board by:

Name: K Harris
Status: Director

The notes form part of these financial statements

JK LEISURE CLOTHING LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable excluding discounts, rebates, value added tax and other sales taxes

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lifePlant and Machinery. - 10% on cost

Valuation and information policy

Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items

Other accounting policies

Taxation Taxation for the year comprises current and deferred. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equityCurrent or deferred taxation assets and liabilities or not discountedCurrent 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 dateDeferred taxDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet dateTiming differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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 differencesUnrelieved 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 Pension costs and other post retirement benefitsThe company operates a defined contribution pension scheme . Contributions payable to the company’s pension scheme are charged to the profit and loss in the period to which they relate

JK LEISURE CLOTHING LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2017

2. Employees

2017 2016
Average number of employees during the period 4 4

JK LEISURE CLOTHING LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2017

3. Intangible Assets

Total
Cost £
At 01 August 2016 27,000
At 31 July 2017 27,000
Amortisation
At 01 August 2016 0
Charge for year 9,000
At 31 July 2017 9,000
Net book value
At 31 July 2017 18,000
At 31 July 2016 27,000

JK LEISURE CLOTHING LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2017

4. Tangible Assets

Total
Cost £
At 01 August 2016 0
Additions 2,025
At 31 July 2017 2,025
Depreciation
At 01 August 2016 0
Charge for year 200
At 31 July 2017 200
Net book value
At 31 July 2017 1,825
At 31 July 2016 0