NM Jones Ltd - Filleted accounts

NM Jones Ltd
Registered number:		09171201
Balance Sheet
as at 31 August 2017

Notes			2017			2016
£				£
Fixed assets
Intangible assets	2		393,750			450,000
Tangible assets	3		20,468			3,178
			414,218			453,178

Current assets
Stocks		35,000			35,000
Debtors	4	236			5,674
Cash at bank and in hand		30,516			13,451
		65,752			54,125

Creditors: amounts falling due within one year	5	(185,038)			(359,757)

Net current liabilities			(119,286)			(305,632)

Net assets			294,932			147,546

Capital and reserves
Called up share capital			100			100
Profit and loss account			294,832			147,446

Shareholder's funds			294,932			147,546

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




NM Jones
Director
Approved by the board on 29 May 2018

NM Jones Ltd
Notes to the Accounts
for the year ended 31 August 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.


2	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 September 2016				562,500
	At 31 August 2017				562,500

	Amortisation
	At 1 September 2016				112,500
	Provided during the year				56,250
	At 31 August 2017				168,750

	Net book value
	At 31 August 2017				393,750
	At 31 August 2016				450,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 September 2016				3,178
	Additions				19,447
	At 31 August 2017				22,625

	Depreciation
	Charge for the year				2,157
	At 31 August 2017				2,157

	Net book value
	At 31 August 2017				20,468
	At 31 August 2016				3,178



4	Debtors		2017		2016
£				£

	Trade debtors		-		5,674
	Other debtors		236		-
			236		5,674


5	Creditors: amounts falling due within one year		2017		2016
£				£

	Bank loans and overdrafts		171		-
	Trade creditors		59,284		73,027
	Corporation tax		69,386		36,443
	Other creditors		56,197		250,287
			185,038		359,757


6	Controlling party

	The controlling party is Mr N M Jones.


7	Other information

	NM Jones Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Hillside
	The Tumble
	St Nicholas
	Cardiff
	CF5 6SA

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