Jo Downs Glass Design Limited - Accounts to registrar (filleted) - small 18.2
Jo Downs Glass Design Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Jo Downs Glass Design Limited |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| 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 |
| Jo Downs Glass Design Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1A Parliament Square |
| Parliament Street |
| Crediton |
| Devon |
| EX17 2AW |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| Balance Sheet |
| 31 December 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| 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 |
| SHAREHOLDERS' FUNDS |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| Balance Sheet - continued |
| 31 December 2017 |
| The director acknowledges her 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. |
| 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 |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| Jo Downs Glass Design 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. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The significant accounting policies applied in the preparation of these financial statements are set out |
| below. These policies have been consistently applied to all years presented unless otherwise stated. |
| The company's principal place of business is: 27G Pennygillam Way, Pennygillam Industrial Estate, |
| Launceston, Cornwall, PL15 7ED. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts chargeable in respect of the sale of goods to customers falling within |
| the company's ordinary activities. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
| measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Branding costs are being amortised evenly over their estimated useful life of five years. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures, fittings and equipment | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| 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. |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
| held under finance leases are depreciated over their estimated useful lives or the lease term, |
| whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill | Branding | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| and 31 December 2017 |
| AMORTISATION |
| At 1 January 2017 |
| Amortisation for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| fittings |
| Short | Plant and | and | Motor |
| leasehold | machinery | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 6. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 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 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors and accrued income |
| Other debtors |
| Directors' current accounts | 443 | - |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other loans |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Company pension contributions | 4,714 | - |
| VAT | 82,838 | 73,491 |
| Other creditors |
| Directors' current accounts | - | 3,576 |
| Accrued expenses |
| Jo Downs Glass Design Limited (Registered number: 05051641) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts (see note 10) |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2017 | 2016 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2017 |
| and 31 December 2016: |
| 2017 | 2016 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| During the year the company charged interest on the overdrawn loan account amounting to £5 (2016 |
| - £Nil). |