Just Taps Plus (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07462410 (England and Wales)

JUST TAPS PLUS (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

K Seth

Mrs N Seth

REGISTERED OFFICE:

Unit 3, Tomo Industrial Estate.

Packet Boat Lane

Cowley

Uxbridge

Middlesex

UB8 2JP

BUSINESS ADDRESS:

Unit 3, Tomo Industrial Estate

Packet Boat Lane

Cowley

Uxbridge

Middlesex

UB8 2JP

REGISTERED NUMBER:

07462410 (England and Wales)

ACCOUNTANTS:

Siva Yogan & Co Ltd

Chartered Accountants

Hounslow Business Park

Unit 6, Alice Way

Hounslow

Middlesex

TW3 3UD

FIXED ASSETS

Tangible assets

4

62,005

77,506

CURRENT ASSETS

Stocks

550,147

456,816

Debtors

5

680,132

558,105

Cash at bank and in hand

477,092

351,294

1,707,371

1,366,215

CREDITORS

Amounts falling due within one year

6

(392,750

)

(298,888

)

NET CURRENT ASSETS

1,314,621

1,067,327

TOTAL ASSETS LESS CURRENT LIABILITIES

1,376,626

1,144,833

CREDITORS

Amounts falling due after more than one year

7

(15,937

)

(23,903

)

PROVISIONS FOR LIABILITIES

-

(1,780

)

NET ASSETS

1,360,689

1,119,150

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,360,589

1,119,050

SHAREHOLDERS' FUNDS

1,360,689

1,119,150

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 28 September 2018 and were signed on its behalf by:

K Seth - Director

1.	STATUTORY INFORMATION

Just Taps Plus (UK) Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number is 07462410 and its registered office is Unit 3 Tomo Industrial

Estate, Packet Boat Lane, Uxbridge, England, UB8 2JP.

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.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

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

obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

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

the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the statement of financial position date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets

and depreciated over the shorter of the lease term and their useful lives. Obligations under such

agreements are included in creditors net of the finance charge allocated to future periods. The finance

element of the rental payment is charged to the profit and loss account so as to produce a constant

periodic rate of charge on the net obligation outstanding in each period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2016 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

and 31 December 2017

59,987

81,730

3,406

145,123

DEPRECIATION

At 1 January 2017

39,551

26,216

1,850

67,617

Charge for year

4,087

11,103

311

15,501

At 31 December 2017

43,638

37,319

2,161

83,118

NET BOOK VALUE

At 31 December 2017

16,349

44,411

1,245

62,005

At 31 December 2016

20,436

55,514

1,556

77,506

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

552,570

523,074

Other debtors

127,562

35,031

680,132

558,105

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

7,966

7,966

Trade creditors

77,750

26,347

Taxation and social security

298,330

251,575

Other creditors

8,704

13,000

392,750

298,888

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

15,937

23,903

8.	RELATED PARTY DISCLOSURES

Directors do not receive rent from the company for using their own premises.