Jessops Consultancy Services Limited - Period Ending 2018-04-30
Jessops Consultancy Services Limited - Period Ending 2018-04-30
Registration number:
Jessops Consultancy Services Limited
for the Year Ended 30 April 2018
14 Jessops Riverside
800 Brightside Lane
Sheffield
SOUTH YORKSHIRE
S9 2RX
Jessops Consultancy Services Limited
Contents
Company Information |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
Jessops Consultancy Services Limited
Company Information
Directors |
Miss Mandy Guest Mr Hugh Alistair Voice Mrs Pamela Gillian Voice |
Company secretary |
Miss Mandy Guest |
Registered office |
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Accountants |
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Page 1 |
Jessops Consultancy Services Limited
Profit and Loss Account for the Year Ended 30 April 2018
Note |
2018 |
2017 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
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Operating profit |
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|
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Other interest receivable and similar income |
|
|
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Interest payable and similar expenses |
( |
( |
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(3,335) |
(2,819) |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 2 |
Jessops Consultancy Services Limited
(Registration number: 06202427)
Balance Sheet as at 30 April 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial 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:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Page 3 |
Jessops Consultancy Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Page 4 |
Jessops Consultancy Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 5 |
Jessops Consultancy Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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Depreciation |
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Carrying amount |
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At 30 April 2018 |
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At 30 April 2017 |
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Included within the net book value of land and buildings above is £359,406 (2017 - £359,058) in respect of freehold land and buildings.
Debtors |
2018 |
2017 |
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Trade debtors |
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Prepayments |
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- |
Other debtors |
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Page 6 |
Jessops Consultancy Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
- |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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Other non-current financial liabilities |
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297,898 |
305,537 |
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
|
Ordinary shares of £1 each |
100 |
100 |
100 |
100 |
Loans and borrowings |
2018 |
2017 |
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Non-current loans and borrowings |
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Bank borrowings |
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Page 7 |
Jessops Consultancy Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
2018 |
2017 |
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Current loans and borrowings |
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Bank borrowings |
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Dividends |
2018 |
2017 |
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£ |
£ |
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Interim dividend of £ |
20,000 |
- |
Page 8 |
Jessops Consultancy Services Limited
Detailed Profit and Loss Account for the Year Ended 30 April 2018
2018 |
2017 |
|
Turnover (analysed below) |
55,494 |
55,114 |
Cost of sales (analysed below) |
(773) |
(410) |
Gross profit |
54,721 |
54,704 |
Gross profit (%) |
98.61% |
99.26% |
Administrative expenses |
||
Establishment costs (analysed below) |
(5,110) |
(3,335) |
General administrative expenses (analysed below) |
(2,799) |
(1,371) |
Finance charges (analysed below) |
(1,096) |
(2,560) |
(9,005) |
(7,266) |
|
Operating profit |
45,716 |
47,438 |
Other interest receivable and similar income (analysed below) |
5,033 |
3,412 |
Interest payable and similar charges (analysed below) |
(8,368) |
(6,231) |
(3,335) |
(2,819) |
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Profit before tax |
42,381 |
44,619 |
Page 9 |
Jessops Consultancy Services Limited
Detailed Profit and Loss Account for the Year Ended 30 April 2018
2018 |
2017 |
Turnover |
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Sale of goods, UK |
6,303 |
7,477 |
Rent receivable |
49,191 |
47,637 |
55,494 |
55,114 |
Cost of sales |
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Purchases |
(104) |
- |
Direct costs |
(669) |
(410) |
(773) |
(410) |
Establishment costs |
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Rent and rates |
(18) |
- |
Rent |
- |
(17) |
Insurance |
(1,332) |
- |
Repairs and maintenance |
(3,760) |
(2,913) |
Repairs and renewals |
- |
(55) |
General maintenance |
- |
(350) |
(5,110) |
(3,335) |
General administrative expenses |
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Sundry expenses |
(181) |
- |
Management fees |
(2,618) |
(1,371) |
(2,799) |
(1,371) |
Finance charges |
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Bank charges |
(1,096) |
(2,560) |
Other interest receivable and similar income |
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Other interest receivable |
5,033 |
3,412 |
Interest payable and similar expenses |
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Other loan interest |
(8,368) |
(6,231) |
Page 10 |