JT Rodgers Limited - Period Ending 2014-03-31

Registration number: 08191185

JT Rodgers Limited
 
  Abbreviated Accounts
 
  for the Year Ended 31 March 2014
 

JT Rodgers Limited
Abbreviated Balance Sheet at 31 March 2014

		Note			31 March 2014 £			31 March 2013 £
Fixed assets
Intangible fixed assets					13,250			15,900
Tangible fixed assets					2,575			2,875
					15,825			18,775
Current assets
Stocks					24,800			12,450
Debtors					-			59
Cash at bank and in hand					4,950			6,919
					29,750			19,428
Creditors: Amounts falling due within one year					(79,889)			(51,057)
Net current liabilities					(50,139)			(31,629)
Net liabilities					(34,314)			(12,854)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(34,315)			(12,855)
Shareholders' deficit					(34,314)			(12,854)

For the year ending 31 March 2014 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These accounts were approved by the director and authorised for issue on 22 December 2014.

.........................................
 T. Bowers
 Director
 Company Registration Number: 08191185

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

JT Rodgers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014

1	Accounting policies

Basis of preparation

The full accounts, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The accounts have been prepared on a going concern basis on the assumption that the director will continue his support for the foreseeable future and not seek repayment of his loan in preference to other creditors.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Goodwill	7 years straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Fixtures & Fittings	10 years straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Operating lease agreements

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

JT Rodgers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2013		17,000			3,000			20,000
At 31 March 2014		17,000			3,000			20,000
Depreciation
At 1 April 2013		1,100			125			1,225
Charge for the year		2,650			300			2,950
At 31 March 2014		3,750			425			4,175
Net book value
At 31 March 2014		13,250			2,575			15,825
At 31 March 2013		15,900			2,875			18,775

3	Share capital

Allotted, called up and fully paid shares

	31 March 2014						31 March 2013
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 3