Jason Fry Associates Ltd Filleted accounts for Companies House (small and micro)

JASON FRY ASSOCIATES LTD. - Company Information

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COMPANY REGISTRATION NUMBER: 04199715

Jason Fry Associates Ltd

Filleted Unaudited Abridged Financial Statements

30 April 2018

Jason Fry Associates Ltd

Abridged Financial Statements

Year ended 30 April 2018

Contents	Page

Officers and professional advisers	1

Abridged statement of financial position	2

Notes to the abridged financial statements	4

Jason Fry Associates Ltd

Officers and Professional Advisers

The board of directors	J Fry
	Mrs Fry

Company secretary	Mrs J Fry

Registered office	1 Hurstmead
	Bull Lane
	Chislehurst
	Kent
	BR7 6NU

Accountants	R E Jones & Co
	Chartered accountant
	132 Burnt Ash Road
	Lee
	London
	SE12 8PU

Bankers	HSBC Bank plc
	P O Box 648
	27-32 Poultry
	London
	EC2P 2BX

Jason Fry Associates Ltd

Abridged Statement of Financial Position

30 April 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		1,585	679

Current assets

Debtors	53,301	45,885
Cash at bank and in hand	3,126	20,026
	---------	---------
	56,427	65,911

Creditors: amounts falling due within one year	57,593		66,539
	---------		---------
Net current liabilities		1,166	628
		-------	----
Total assets less current liabilities		419	51
		----	----

Capital and reserves

Called up share capital	2	2
Profit and loss account	417	49
	----	----
Shareholders funds	419	51
	----	----

These abridged 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 abridged statement of comprehensive income has not been delivered.

For the year ending 30 April 2018 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 abridged 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Jason Fry Associates Ltd

Abridged Statement of Financial Position (continued)

30 April 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 5 November 2018 , and are signed on behalf of the board by:

J Fry	Mrs Fry
Director	Director

Company registration number: 04199715

Jason Fry Associates Ltd

Notes to the Abridged Financial Statements

Year ended 30 April 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Hurstmead, Bull Lane, Chislehurst, Kent, BR7 6NU.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged 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 abridged 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. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

	Equipment	-	25% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	£
Cost
At 1 May 2017	3,624
Additions	1,433
	-------
At 30 April 2018	5,057
	-------
Depreciation
At 1 May 2017	2,945
Charge for the year	527
	-------
At 30 April 2018	3,472
	-------
Carrying amount
At 30 April 2018	1,585
	-------
At 30 April 2017	679
	-------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
J Fry	18,168	85,416	( 86,930)	16,654
Mrs Fry	18,238	85,416	( 86,930)	16,724
	---------	----------	----------	---------
	36,406	170,832	( 173,860)	33,378
	---------	----------	----------	---------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
J Fry	16,053	57,365	( 55,250)	18,168
Mrs Fry	16,054	57,434	( 55,250)	18,238
	---------	----------	----------	---------
	32,107	114,799	( 110,500)	36,406
	---------	----------	----------	---------

7. Related party transactions

During the year dividends amounting to £150,000 were paid to the directors.