J & C ASSOCIATES LIMITED Filleted accounts for Companies House (small and micro)

J & C ASSOCIATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03162355

J & C ASSOCIATES LIMITED

Filleted Unaudited Financial Statements

28 February 2018

J & C ASSOCIATES LIMITED

Statement of Financial Position

28 February 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		9,862	8,597

Current assets

Debtors	6	1,942,006	1,763,812
Cash at bank and in hand		640,868	617,095
		------------	------------
		2,582,874	2,380,907

Creditors: amounts falling due within one year	7	1,495,148		1,391,702
		------------		------------
Net current assets			1,087,726	989,205
			------------	---------
Total assets less current liabilities			1,097,588	997,802
			------------	---------
Net assets			1,097,588	997,802
			------------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	1,097,586	997,800
	------------	---------
Shareholders funds	1,097,588	997,802
	------------	---------

These 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 statement of comprehensive income has not been delivered.

For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

J & C ASSOCIATES LIMITED

Statement of Financial Position (continued)

28 February 2018

These financial statements were approved by the board of directors and authorised for issue on 10 November 2018 , and are signed on behalf of the board by:

J E Barlay
Director

Company registration number: 03162355

J & C ASSOCIATES LIMITED

Notes to the Financial Statements

Year ended 28 February 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 Tudor House, Llanvanor Road, Finchley Road, London, NW2 2AQ.

2. Statement of compliance

These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised when the amount can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Website costs	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 23 (2017: 10 ).

5. Tangible assets

	Website cost	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 March 2017	5,000	24,633	51,202	80,835
Additions	–	–	4,552	4,552
	-------	--------	--------	--------
At 28 February 2018	5,000	24,633	55,754	85,387
	-------	--------	--------	--------
Depreciation
At 1 March 2017	4,528	22,282	45,428	72,238
Charge for the year	118	588	2,581	3,287
	-------	--------	--------	--------
At 28 February 2018	4,646	22,870	48,009	75,525
	-------	--------	--------	--------
Carrying amount
At 28 February 2018	354	1,763	7,745	9,862
	-------	--------	--------	--------
At 28 February 2017	472	2,351	5,774	8,597
	-------	--------	--------	--------

6. Debtors

	2018	2017
	£	£
Trade debtors	1,692,070	1,581,568
Other debtors	249,936	182,244
	------------	------------
	1,942,006	1,763,812
	------------	------------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	1,190	1,250
Trade creditors	1,392,106	1,247,026
Corporation tax	86,163	84,161
Social security and other taxes	337	13,888
Other creditors	15,352	45,377
	------------	------------
	1,495,148	1,391,702
	------------	------------

8. Related party transactions

The company was under the control of the director, Mrs J Barlay who beneficially owns the entire issued share capital of the company.