Jet Engine Management Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06575684 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

JET ENGINE MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B W Licquorice

Mr S M Mermod

SECRETARY:

REGISTERED OFFICE:

7-8 Raleigh Walk

Brigantine Place

Cardiff

CF10 4LN

REGISTERED NUMBER:

06575684 (England and Wales)

ACCOUNTANT:

Linghams Chartered Accountants

7-8 Raleigh Walk

Waterfront 2000

Brigantine Place

Cardiff

South Glamorgan

CF10 4LN

FIXED ASSETS

Tangible assets

4

4,947

428

CURRENT ASSETS

Debtors

5

111,223

77,427

Cash at bank and in hand

205,689

201,265

316,912

278,692

CREDITORS

Amounts falling due within one year

6

89,360

45,028

NET CURRENT ASSETS

227,552

233,664

TOTAL ASSETS LESS CURRENT LIABILITIES

232,499

234,092

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

232,399

233,992

SHAREHOLDERS' FUNDS

232,499

234,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 July 2018 and were signed on its behalf by:

Mr B W Licquorice - Director

1.	STATUTORY INFORMATION

Jet Engine Management Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current 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 date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in 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 difference.

Unrelieved 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 benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

1,624

Additions

5,429

Disposals

(1,109

)

At 31 October 2017

5,944

DEPRECIATION

At 1 November 2016

1,196

Charge for year

910

Eliminated on disposal

(1,109

)

At 31 October 2017

997

NET BOOK VALUE

At 31 October 2017

4,947

At 31 October 2016

428

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

103,392

73,698

Other debtors

7,831

3,729

111,223

77,427

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Bank loans and overdrafts

-

332

Trade creditors

4,164

5,477

Taxation and social security

81,771

36,044

Other creditors

3,425

3,175

89,360

45,028

7.	RELATED PARTY DISCLOSURES