Jesty Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09841267 (England and Wales)

JESTY LIMITED

Financial Statements for the Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S D Field

M Page

REGISTERED OFFICE:

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

REGISTERED NUMBER:

09841267 (England and Wales)

AUDITORS:

Tudor John LLP

Chartered Accountants and Statutory Auditors

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

FIXED ASSETS

Tangible assets

4

52,080

58,607

CURRENT ASSETS

Stocks

26,435

45,712

Debtors

5

976,637

826,001

Cash at bank and in hand

56,014

178,836

1,059,086

1,050,549

CREDITORS

Amounts falling due within one year

6

1,131,709

1,123,337

NET CURRENT LIABILITIES

(72,623

)

(72,788

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(20,543

)

(14,181

)

PROVISIONS FOR LIABILITIES

7,289

8,280

NET LIABILITIES

(27,832

)

(22,461

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(27,932

)

(22,561

)

SHAREHOLDERS' FUNDS

(27,832

)

(22,461

)

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 25 September 2018 and were signed on its behalf by:

M Page - Director

1.	STATUTORY INFORMATION

Jesty 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.

The accounts have been prepared on a going concern basis. The company meets day to day working capital

requirements through an overdraft facility which is repayable on demand together with loans from other wholly

owned group companies. The company expects to operate within the overdraft facility currently agreed on the

basis of the availability of the continuing support of these companies.

The financial statements are presented in Sterling which is the functional currency of the company.

TURNOVER

Turnover represents net invoiced sales for services, excluding value added tax.

Revenue is recognised upon completion of the job.

TANGIBLE FIXED ASSETS

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure including an amount to cover staff time spent on jobs.

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 TAXATION

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.

VEHICLE LEASING

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Vehicle lease rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

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.

FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2016 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

449,788

Additions

4,853

Disposals

(4,540

)

At 31 December 2017

450,101

DEPRECIATION

At 1 January 2017

391,181

Charge for year

10,303

Eliminated on disposal

(3,463

)

At 31 December 2017

398,021

NET BOOK VALUE

At 31 December 2017

52,080

At 31 December 2016

58,607

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

146,742

261,586

Amounts owed by group undertakings

817,582

549,966

Other debtors

12,313

14,449

976,637

826,001

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

72,313

192,227

Amounts owed to group undertakings

929,073

843,305

Taxation and social security

69,387

67,027

Other creditors

60,936

20,778

1,131,709

1,123,337

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

13,944

13,944

Between one and five years

55,776

55,776

In more than five years

764,207

778,151

833,927

847,871

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Donald Nelson, FCA (Senior Statutory Auditor)

for and on behalf of Tudor John LLP

9.	CONTINGENT LIABILITIES

The company is jointly and severally liable in respect of VAT liabilities arising in other group undertakings. The

contingent liability at 31st December 2017 amounted to £260,449 (2016 - £90,598).

10.	CAPITAL COMMITMENTS

2017

2016

£

£

Contracted but not provided for in the

financial statements

39,500

-

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

During the year, a fellow group company, A & J Lawrence Limited, paid costs of £2,487 (2016 - £45,740) on

behalf of the company. The company owed £48,227 (2016 - £45,740) to A & J Lawrence Limited at the

year-end. This amount is included within amounts due within one year and is repayable on demand.

12.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities, assist with the preparation of the financial statements, to process our payroll and file the

related information with HMRC and to submit quarterly VAT returns.

13.	ULTIMATE CONTROLLING PARTY