J Wray Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04011335 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2018

for

J Wray Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J M A Wray

REGISTERED OFFICE:

1345 London Road

London

SW16 4BE

REGISTERED NUMBER:

04011335 (England and Wales)

ACCOUNTANTS:

CAAS

Chartered Accountants

Suite 203, 2nd Floor

China House

401 Edgware Road

London

NW2 6GY

FIXED ASSETS

Intangible assets

4

600

900

Tangible assets

5

10,299

11,069

10,899

11,969

CURRENT ASSETS

Stocks

6

9,210

8,550

Debtors

7

12,352

27,547

Cash at bank and in hand

3,858

3,254

25,420

39,351

CREDITORS

Amounts falling due within one year

8

32,566

37,533

NET CURRENT (LIABILITIES)/ASSETS

(7,146

)

1,818

TOTAL ASSETS LESS CURRENT LIABILITIES

3,753

13,787

CREDITORS

Amounts falling due after more than one year

9

-

(9,656

)

PROVISIONS FOR LIABILITIES

10

(1,957

)

(2,186

)

NET ASSETS

1,796

1,945

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,696

1,845

SHAREHOLDERS' FUNDS

1,796

1,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 29 December 2018 and were signed by:

J M A Wray - Director

1.	STATUTORY INFORMATION

J Wray Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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, and in accordance with the accounting policies set out below.

Going concern

At 30 June 2018, the balance sheet showed net assets of £1,796 (2017 - £1,945) but net current liabilities of

£7,146 (2017 - net current assets of £1,818). The director has given an undertaking to financially support the

company for at least 12 months from the date of signature on the balance sheet. The situation will be reviewed

after this time. On this basis, the director considers it appropriate to prepare the financial statements on the

going concern basis.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised as the

service is provided.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twenty 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.

Fixtures and fittings

-

15% 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 period 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 that have been enacted

or substantively enacted by the balance sheet date.

Deferred tax

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

balance sheet 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.

Trade debtors

Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are

written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and

the amount can be reliably estimated. Provisions are not recognised for future operating losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 30 June 2018

6,000

AMORTISATION

At 1 July 2017

5,100

Amortisation for year

300

At 30 June 2018

5,400

NET BOOK VALUE

At 30 June 2018

600

At 30 June 2017

900

Goodwill had previously been incorrectly amortised. This has been corrected in the year ended 30 June 2017

and will continue to be amortised correctly going forwards.

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 July 2017

3,473

88,206

91,679

Additions

-

435

435

At 30 June 2018

3,473

88,641

92,114

DEPRECIATION

At 1 July 2017

-

80,610

80,610

Charge for year

-

1,205

1,205

At 30 June 2018

-

81,815

81,815

NET BOOK VALUE

At 30 June 2018

3,473

6,826

10,299

At 30 June 2017

3,473

7,596

11,069

6.

STOCKS

30.6.18

30.6.17

£

£

Stocks

9,210

8,550

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

3,929

1,677

Director's current account

-

17,988

Prepayments and accrued income

8,423

7,882

12,352

27,547

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans and overdrafts

-

5,062

Trade creditors

13,360

11,269

Tax

6,496

9,021

Social security and other taxes

145

20

VAT

6,015

5,827

Other creditors

5,127

5,534

Director's current account

195

-

Accrued expenses

1,228

800

32,566

37,533

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.18

30.6.17

£

£

Bank loans - 2-5 years

-

9,656

10.	PROVISIONS FOR LIABILITIES

30.6.18

30.6.17

£

£

Deferred tax

1,957

2,186

Deferred

tax

£

Balance at 1 July 2017

2,186

Credit to Income Statement during year

(229

)

Balance at 30 June 2018

1,957