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COMPANY REGISTRATION NUMBER: 05620527
JP Mooney Limited
Filleted Unaudited Financial Statements
31 May 2022
JP Mooney Limited
Financial Statements
Year ended 31 May 2022
Contents
Pages
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
JP Mooney Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of JP Mooney Limited
Year ended 31 May 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JP Mooney Limited for the year ended 31 May 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of JP Mooney Limited, as a body, in accordance with the terms of our engagement letter dated 2 September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of JP Mooney Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JP Mooney Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that JP Mooney Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JP Mooney Limited. You consider that JP Mooney Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of JP Mooney Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
5 September 2022
JP Mooney Limited
Statement of Financial Position
31 May 2022
2022
2021
Note
£
£
Fixed assets
Intangible assets
5
5,200
5,200
Tangible assets
6
27,903
27,807
--------
--------
33,103
33,007
Current assets
Debtors
7
72,367
41,103
Cash at bank and in hand
159,187
157,619
---------
---------
231,554
198,722
Creditors: amounts falling due within one year
8
18,453
16,723
---------
---------
Net current assets
213,101
181,999
---------
---------
Total assets less current liabilities
246,204
215,006
---------
---------
Net assets
246,204
215,006
---------
---------
JP Mooney Limited
Statement of Financial Position (continued)
31 May 2022
2022
2021
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
246,202
215,004
---------
---------
Shareholders funds
246,204
215,006
---------
---------
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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 September 2022 , and are signed on behalf of the board by:
Mr J P Mooney
Mr S Richardson
Director
Director
Company registration number: 05620527
JP Mooney Limited
Notes to the Financial Statements
Year ended 31 May 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Trap Lane Farm, Trap Lane, Sheffield, S11 7RG.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Intangible assets
Other intangible assets
£
Cost
At 1 June 2021 and 31 May 2022
5,200
-------
Amortisation
At 1 June 2021 and 31 May 2022
-------
Carrying amount
At 31 May 2022
5,200
-------
At 31 May 2021
5,200
-------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 June 2021
29,016
12,687
41,703
Additions
2,595
5,757
8,352
--------
--------
--------
At 31 May 2022
31,611
18,444
50,055
--------
--------
--------
Depreciation
At 1 June 2021
1,209
12,687
13,896
Charge for the year
7,934
322
8,256
--------
--------
--------
At 31 May 2022
9,143
13,009
22,152
--------
--------
--------
Carrying amount
At 31 May 2022
22,468
5,435
27,903
--------
--------
--------
At 31 May 2021
27,807
27,807
--------
--------
--------
7. Debtors
2022
2021
£
£
Trade debtors
65,122
29,040
Other debtors
7,245
12,063
--------
--------
72,367
41,103
--------
--------
8. Creditors: amounts falling due within one year
2022
2021
£
£
Social security and other taxes
10,224
8,464
Other creditors
8,229
8,259
--------
--------
18,453
16,723
--------
--------