JCPII Limited,Ltd - AccountsLtd - Accounts

JCPII Limited,Ltd - AccountsLtd - Accounts

JCPII LTD - Company Information

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2017-04-01 05750972 2018-03-31 05750972 2017-04-01 2018-03-31 05750972 2017-03-31 05750972 2016-04-01 2017-03-31 05750972 uk-core:WithinOneYear 2017-03-31 05750972 uk-core:WithinOneYear 2018-03-31 05750972 uk-core:ShareCapital 2018-03-31 05750972 uk-core:ShareCapital 2017-03-31 05750972 uk-core:RetainedEarningsAccumulatedLosses 2018-03-31 05750972 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 05750972 uk-bus:Director1 2017-04-01 2018-03-31 05750972 uk-core:ShipsBoats 2017-04-01 2018-03-31 05750972 uk-core:FurnitureFittings 2017-04-01 2018-03-31 05750972 uk-core:FurnitureFittings 2017-03-31 05750972 uk-core:ShipsBoats 2017-03-31 05750972 uk-core:ShipsBoats 2018-03-31 05750972 uk-core:FurnitureFittings 2018-03-31 iso4217:GBP 05750972 uk-bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 05750972 uk-bus:FRS102 2017-04-01 2018-03-31 05750972 uk-bus:FullAccounts 2017-04-01 2018-03-31 05750972 uk-bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31
JCPII Limited
Registered Number:05750972
For the year ended 31 March 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2018
JCPII Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 31 March 2018
JCPII Limited
Statement of Financial Position
Registered Number :
05750972
£
£
2017
2018
Notes
Fixed assets
Property, plant and equipment
19,976
25,635
2
19,976
25,635
Current assets
Trade and other receivables
48,544
134,655
3
8,827
Cash and cash equivalents
42,518
177,173
57,371
Trade and other payables: amounts falling due within one
year
(77,727)
(162,856)
4
(20,356)
14,317
Net current assets
Total assets less current liabilities
34,293
5,279
(3,800)
(5,100)
Provisions for liabilities
30,493
Net assets
179
Capital and reserves
Called up share capital
95
95
Retained earnings
30,398
84
30,493
179
Shareholders' funds
For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr D. De-Burgh Milne Director
These financial statements were approved and authorised for issue by the Board on 28 December 2018 and were signed by:
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4
For the year ended 31 March 2018
JCPII Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2018
JCPII Limited
Notes to the Financial Statements
Statutory Information
JCPII Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05750972.
Registered address:
Omega Court
368 Cemetery Road
Sheffield
S11 8FT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Marine craft
25% Reducing balance
15% Reducing balance
Fixtures and fittings
Inventories
Income on work in progress contracts is recognised by reference to the valuation of time spent on each contract, at the year end. Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to fairly reflect the profit arising up to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs.
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.
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6
For the year ended 31 March 2018
JCPII Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Marine craft
£
£
£
Cost or
valuation
At 01 April 2017
45,584
5,598
39,986
625
625
-
Additions
At 31 March 2018
39,986
6,223
46,209
Provision for depreciation and impairment
At 01 April 2017
19,949
2,455
17,494
Charge for year
6,284
661
5,623
At 31 March 2018
26,233
3,116
23,117
At 31 March 2018
Net book value
16,869
3,107
19,976
At 31 March 2017
22,492
3,143
25,635
3. Trade and other receivables
2017
2018
£
£
Trade debtors
111,207
25,107
Other debtors
23,448
23,437
48,544
134,655
4. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Trade creditors
45,905
24,337
Taxation and social security
113,701
50,390
Other creditors
3,250
3,000
162,856
77,727
5. Related party transactions
The directors are also shareholders of the company. Dividends paid to the directors, as shareholders of the
company, during the year (with the previous year shown in brackets) were: Mr D. de Burgh-Milne £134,000
(£111,000); Mr J. Dakin £5,000 (£Nil); Mr P. Rowson £Nil (£Nil).
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7
For the year ended 31 March 2018
JCPII Limited
Notes to the Financial Statements Continued
6. Directors advances and guarantees
During the year, the Director's Current Account of Mr D. de Burgh-Milne became overdrawn. The Director's
Current Account first became overdrawn in April 2016 by virtue of a loan provided by the company, which
was later followed by further loans. The maximum loan balance outstanding in the year was £23,448. The loan
balance outstanding at the year end was £23,448. Interest has been charged by the company on these loans.
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