JDC INVESTMENTS (USA) LTD

JDC INVESTMENTS (USA) LTD - Company Information

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Company Registration Number:
07789589 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2017

Period of accounts

Start date: 01 October 2016

End date: 30 September 2017

Contents of the Financial Statements

for the Period Ended 30 September 2017


Balance sheet
Notes

Balance sheet

As at 30 September 2017

	Notes	2017	2016
		£	£
Fixed assets
Intangible assets:	2	346,832	346,832
Total fixed assets:		346,832	346,832
Current assets
Total assets less current liabilities:		346,832	346,832
Creditors: amounts falling due after more than one year:	3	(4,788,310)	(4,998,874)
Total net assets (liabilities):		(4,441,478)	(4,652,042)
Capital and reserves
Called up share capital:		100	100
Profit and loss account:		(4,441,578)	(4,652,142)
Shareholders funds:		(4,441,478)	(4,652,042)

The notes form part of these financial statements

Balance sheet statements

For the year ending 30 September 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 11 May 2018
and signed on behalf of the board by:

Name: David Canfield
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 September 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

Intangible fixed assets and amortisation policy

Intangible assets are included in the balance sheet under the cost model in accordance with FRS 102 section 18, being initial cost less accumulated amoritsation and accumulated impairment losses. Amortisation begins when the intangible asset is available for use. The intangible assets are subject to an impairment review when the directors consider impairment is indicated.

Notes to the Financial Statements

for the Period Ended 30 September 2017

2. Intangible Assets

	Total
Cost	£
At 01 October 2016	346,832
At 30 September 2017	346,832
Net book value
At 30 September 2017	346,832
At 30 September 2016	346,832

Notes to the Financial Statements

for the Period Ended 30 September 2017

3. Creditors: amounts falling due after more than one year note

This amount relates to a loan from the director. The loan is unsecured and is repayable on 30 days notice when the Board of Directors determines that the company has cash which they consider is not required to meet its liabilities. The director has waived the right to charge interest on the loan.In compliance with the FRED 67 amendment to FRS 102 applicable to small companies (effective 8th May 2017) the loan has been measured at transaction price.

Notes to the Financial Statements

for the Period Ended 30 September 2017

4. Changes in presentation and prior period adjustments

The accounts have been restated to incorporate two adjustments: FX loss on retranslation of the loan from director which was not booked in FY16 and an adjustment to the intangible asset value of the company to reflect balances which were not translated into the presentation currency. FX retranslation of the loan from director - FY16Recognise FX expense through profit and loss £922,723Increase balance of loan from director £(922,723)This increased the profit and loss deficit by £922,723.Adjustment to intangible asset value - FY16Decrease asset balance £(221,676)Decrease balance of loan from director £221,676This adjustment had no effect on the net assets of the company and no effect on the profit and loss deficit of the company.

JDC INVESTMENTS (USA) LTD