Just Wot U Need Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05748009 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Just Wot U Need Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

G Rayner

REGISTERED OFFICE:

The Old Printworks

65 Church Street

Littleborough

Lancashire

OL15 8AB

REGISTERED NUMBER:

05748009 (England and Wales)

ACCOUNTANTS:

Versatile Accountancy Services Ltd

The Old Printworks

65 Church Street

Littleborough

Lancashire

OL15 8AB

FIXED ASSETS

Intangible assets

4

36,000

40,000

Property, plant and equipment

5

2,180

2,880

38,180

42,880

CURRENT ASSETS

Inventories

10,000

-

Cash at bank and in hand

600

15

10,600

15

CREDITORS

Amounts falling due within one year

6

44,514

37,772

NET CURRENT LIABILITIES

(33,914

)

(37,757

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,266

5,123

CREDITORS

Amounts falling due after more than one year

7

-

52

NET ASSETS

4,266

5,071

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,166

4,971

SHAREHOLDERS' FUNDS

4,266

5,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

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 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 director on 21 December 2018 and were signed by:

G Rayner - Director

1.	STATUTORY INFORMATION

Just Wot U Need Ltd 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.

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

Revenue is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Inventories 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

40,000

AMORTISATION

Charge for year

4,000

At 31 March 2018

4,000

NET BOOK VALUE

At 31 March 2018

36,000

At 31 March 2017

40,000

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2017

and 31 March 2018

90

2,003

5,916

8,009

DEPRECIATION

At 1 April 2017

21

1,662

3,446

5,129

Charge for year

10

72

618

700

At 31 March 2018

31

1,734

4,064

5,829

NET BOOK VALUE

At 31 March 2018

59

269

1,852

2,180

At 31 March 2017

69

341

2,470

2,880

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

536

369

Taxation and social security

-

(35

)

Other creditors

43,978

37,438

44,514

37,772

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

-

52