JensonR+ Limited 31/12/2017 iXBRL

JensonR+ Limited 31/12/2017 iXBRL

JENSONR+ LIMITED - Company Information

Print Friendly Version

31/12/2017 2017-12-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-01-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 07485172 2017-01-01 2017-12-31 07485172 2017-12-31 07485172 2016-12-31 07485172 2016-12-31 07485172 core:LandBuildings core:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 07485172 core:FurnitureFittingsToolsEquipment 2017-01-01 2017-12-31 07485172 bus:Director1 2017-01-01 2017-12-31 07485172 core:WithinOneYear 2017-12-31 07485172 core:WithinOneYear 2016-12-31 07485172 core:LandBuildings core:OwnedOrFreeholdAssets 2016-12-31 07485172 core:FurnitureFittingsToolsEquipment 2016-12-31 07485172 core:LandBuildings core:OwnedOrFreeholdAssets 2017-12-31 07485172 core:FurnitureFittingsToolsEquipment 2017-12-31 07485172 core:AfterOneYear 2017-12-31 07485172 core:AfterOneYear 2016-12-31 07485172 core:ShareCapital 2017-12-31 07485172 core:ShareCapital 2016-12-31 07485172 core:CapitalRedemptionReserve 2017-12-31 07485172 core:CapitalRedemptionReserve 2016-12-31 07485172 core:RetainedEarningsAccumulatedLosses 2017-12-31 07485172 core:RetainedEarningsAccumulatedLosses 2016-12-31 07485172 core:BetweenOneFiveYears 2017-12-31 07485172 core:BetweenOneFiveYears 2016-12-31 07485172 core:LandBuildings core:OwnedOrFreeholdAssets 2016-12-31 07485172 core:FurnitureFittingsToolsEquipment 2016-12-31 07485172 bus:Director1 2016-12-31 07485172 bus:Director1 2015-12-31 07485172 bus:Director1 2016-12-31 07485172 bus:Director1 2016-01-01 2016-12-31 07485172 bus:SmallEntities 2017-01-01 2017-12-31 07485172 bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 07485172 bus:FullAccounts 2017-01-01 2017-12-31 07485172 bus:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 07485172 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 07485172 core:WithinOneYear 2017-01-01 2017-12-31 07485172 core:AfterOneYear 2017-01-01 2017-12-31 07485172 core:SubsidiariesWithMaterialNon-controllingInterests 2017-01-01 2017-12-31
Company registration number: 07485172
JensonR+ Limited
Unaudited filleted financial statements
31 December 2017
JENSONR+ LIMITED
Contents
Statement of financial position
Notes to the financial statements
JENSONR+ LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2017
2017 2016
Note £ £ £ £
Fixed assets
Tangible assets 5 329,611 308,398
_______ _______
329,611 308,398
Current assets
Stocks 56,642 66,400
Debtors 6 377,825 359,480
Cash at bank and in hand 607,677 133,479
_______ _______
1,042,144 559,359
Creditors: amounts falling due
within one year 7 ( 637,722) ( 489,094)
_______ _______
Net current assets 404,422 70,265
_______ _______
Total assets less current liabilities 734,033 378,663
Creditors: amounts falling due
after more than one year 8 ( 129,056) ( 137,940)
Provisions for liabilities ( 19,359) ( 14,331)
_______ _______
Net assets 585,618 226,392
_______ _______
Capital and reserves
Called up share capital 294 294
Capital redemption reserve 9 6 6
Profit and loss account 9 585,318 226,092
_______ _______
Shareholders funds 585,618 226,392
_______ _______
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 July 2018 , and are signed on behalf of the board by:
M J Knight S Ware
Director Director
JENSONR+ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fishleigh Court, Fishleigh Road, Barnstaple, Devon, EX31 3UD.
The principal activity of the company is that of pharmaceutical services.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchage ruling at the balance sheet. Transactions in the foreign currency are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % straight line
Furniture and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Work in progress - accrued income
Work in progress - accrued income is measured on the basis of estimated selling prices.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year, including the directors was 24 (2016: 20).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2017 271,103 118,920 390,023
Additions - 50,421 50,421
Disposals ( 497) - ( 497)
_______ _______ _______
At 31 December 2017 270,606 169,341 439,947
_______ _______ _______
Depreciation
At 1 January 2017 5,422 76,203 81,625
Charge for the year 5,422 23,289 28,711
_______ _______ _______
At 31 December 2017 10,844 99,492 110,336
_______ _______ _______
Carrying amount
At 31 December 2017 259,762 69,849 329,611
_______ _______ _______
At 31 December 2016 265,681 42,717 308,398
_______ _______ _______
6. Debtors
2017 2016
£ £
Trade debtors 333,530 328,079
Amounts owed by group undertakings and undertakings in which the company has a participating interest 5,880 -
Other debtors 38,415 31,401
_______ _______
377,825 359,480
_______ _______
7. Creditors: amounts falling due within one year
2017 2016
£ £
Bank loans and overdrafts 8,607 8,373
Trade creditors 124,620 328,556
Accruals and deferred income 162,871 57,712
Social security and other taxes 189,991 82,453
Other creditors 151,633 12,000
_______ _______
637,722 489,094
_______ _______
The bank loan of £8,607 (2016: £8,373) is secured by way of a debenture held by the company, over Unit C1 Fishleigh Road, Barnstaple and its associated assets and by way of a personal guarantee for £50,000 by Mr Knight.
8. Creditors: amounts falling due after more than one year
2017 2016
£ £
Bank loans and overdrafts 129,056 137,940
_______ _______
The bank loan of £129,056 (2016: £137,940) is secured by way of a debenture held by the company, over Unit C1 Fishleigh Road, Barnstaple and its associated assets and by way of a personal guarantee for £50,000 by Mr Knight.
9. Reserves
Capital redemption reserve:This reserve records the nominal value of shares repurchased by the company.Profit and loss account:This reserve records retained earnings and accumulated losses.
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 1 year and not later than 5 years 2,111 3,050
_______ _______
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Loans to / (from) directors at 1 January 2017 Loans to / (from) the directors Amounts repaid Balance at 31 December 2017
£ £ £ £
Director ( 12,000) - 12,000 -
_______ _______ _______ _______
Loans to / (from) directors at 1 January 2016 Loans to / (from) the directors Amounts repaid Balance at 31 December 2016
£ £ £ £
Director ( 49,950) 37,950 - ( 12,000)
_______ _______ _______ _______
No interest was charged on this loan in the year ended 31 December 2017 (2016: £1,126).
12. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2017 2016 2017 2016
£ £ £ £
Connected company 5,880 - 5,880 -
_______ _______ _______ _______
The above loan is interest free and repayable on demand.
13. Ultimate parent undertaking
The company is under the control of Jenson+ Holdings Ltd, its parent company. The registered office is Fishleigh Court, Fishleigh Road, Barnstaple, Devon EX31 3UD.