Registered number
02747734
Ben Janssens Oriental Art Limited
Filleted Accounts
30 September 2021
Ben Janssens Oriental Art Limited
Registered number: 02747734
Balance Sheet
as at 30 September 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 2,419 3,225
Current assets
Stocks 651,282 611,881
Debtors 4 467,697 515,409
Cash at bank and in hand 124,760 169,468
1,243,739 1,296,758
Creditors: amounts falling due within one year 5 (648,847) (630,418)
Net current assets 594,892 666,340
Net assets 597,311 669,565
Capital and reserves
Called up share capital 2 2
Profit and loss account 597,309 669,563
Shareholder's funds 597,311 669,565
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Janssens
Director
Approved by the board on 14 September 2022
Ben Janssens Oriental Art Limited
Notes to the Accounts
for the year ended 30 September 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods . Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost,of each asset evenly over its , as follows:
Fixtures and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Fixtures & equipment
£
Cost
At 1 October 2020 66,723
At 30 September 2021 66,723
Depreciation
At 1 October 2020 63,498
Charge for the year 806
At 30 September 2021 64,304
Net book value
At 30 September 2021 2,419
At 30 September 2020 3,225
4 Debtors 2021 2020
£ £
Trade debtors 434,364 477,627
Other debtors 33,333 37,782
467,697 515,409
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 599,738 576,451
Direrctors current account 1,096 20,344
Taxation and social security costs 31,013 24,123
Other creditors 17,000 9,500
648,847 630,418
6 Related party transactions
Ben Janssens is the director of the company.Amount due to him was £1,096(2020-£20,344).
7 Controlling party
Mr B Janssens controls the company as a result of his shareholding.
8 Other information
Ben Janssens Oriental Art Limited is a private company limited by shares and incorporated in England. Its registered office is:
27 Moreton Place
London
SW1V 2NL
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