JTY Limited - Accounts to registrar (filleted) - small 18.2
JTY Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| for |
| JTY Limited |
| JTY Limited (Registered number: 07312229) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JTY Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Heritage House |
| 34b North Cray Road |
| Bexley |
| DA5 3LZ |
| JTY Limited (Registered number: 07312229) |
| Balance Sheet |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The director acknowledges his 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. |
| JTY Limited (Registered number: 07312229) |
| Balance Sheet - continued |
| 31 December 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| JTY Limited (Registered number: 07312229) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| JTY Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 31 December 2017 are the first that are prepared in |
| accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance |
| with UK GAAP, the date of transition to FRS 102 Section 1A is 1 January 2016. |
| 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 |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| JTY Limited (Registered number: 07312229) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2017 |
| and 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Other investments | 9,615 | 9,615 |
| The Company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Registered office: Heritage House,34b North Cray Road,Bexley, Kent, DA5 3LZ |
| Nature of business: |
| % |
| Class of shares: | holding |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves |
| Loss for the year | ( |
) | ( |
) |
| Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing |
| consolidated accounts and has not done so, therefore the accounts show information about the |
| company as an individual entity. |
| JTY Limited (Registered number: 07312229) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2017 |
| Revaluations | (179 | ) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| Fair value at 31 December 2017 is represented by: |
| £ |
| Valuation in 2017 | (179 | ) |
| Cost | 927,930 |
| 927,751 |
| If the investment properties had not been revalued they would have been included at the following |
| historical cost: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Cost | 710,346 | 710,346 |
| The investment properties were valued on an open market basis on 31 December 2017 by the director |
| . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| JTY Limited (Registered number: 07312229) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loans |
| Other creditors |
| 10. | RELATED PARTY DISCLOSURES |
| As at the balance sheet date, the company owed the director, Jim Young, £554,316 (2016: £548,417). |
| Interest is being charged on the loan at a rate of 3.5% - 4% per annum. Interest to 31 December 2017 |
| amounted to £19,425 (2016: £25,851). |
| 11. | FIRST YEAR ADOPTION |
| The investment property was previously accounted for under the FRSSE (effective January 2015), |
| which required gains and losses on the poperty's open market value to be taken to a revaluation |
| reserve in equity. The property is being measured at fair value under FRS 102 and fair value gains and |
| losses are reported in profit or loss. FRS 102 also requires deferred tax to be accounted for on assets |
| that are subject to revaluation. |
| Consequently, additional deferred tax of £68,894 was recognised at 1 June 2016 to reflect the |
| provisions of FRS 102. A reduction in the provision for deferred tax has been recognised at 31 |
| December 2016 amounting to £949. |