REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
FOR |
J.C. DESIGNS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
FOR |
J.C. DESIGNS LIMITED |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
J.C. DESIGNS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Kingfisher House |
11 Hoffmanns Way |
Chelmsford |
Essex |
CM1 1GU |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
BALANCE SHEET |
30 SEPTEMBER 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand | 8 |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
BALANCE SHEET - continued |
30 SEPTEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
1. | STATUTORY INFORMATION |
J.C. Designs Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The financial statements have been rounded to the nearest Pound sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Summary of significant accounting policies |
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. |
Turnover |
Goods and services |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, services rendered, stated net of discounts and of Value Added Tax. |
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities. |
The company's primary activity is the provision of computer consultancy services. Turnover is recognised over the period the service is provided. Adjustments between accounting periods are shown under work in progress. |
The company also sells computer goods. Goods supplied to customers are recognised at the point of delivery when the risks and rewards of ownership are transferred to the customer. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation of a tangible fixed assets begins when it is in the location and condition necessary available for the use intended. |
Tangible fixed asset depreciation is included in administrative expenses in the Income Statement. |
Government grants |
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the income statement in the same period as the related expenditure. |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
3. | ACCOUNTING POLICIES - continued |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
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 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. |
Research and development |
Expenditure on research and development is written off in the year to the Income Statement when it is incurred. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 October 2020 |
and 30 September 2021 |
DEPRECIATION |
At 1 October 2020 |
Charge for year |
At 30 September 2021 |
NET BOOK VALUE |
At 30 September 2021 |
At 30 September 2020 |
6. | STOCKS |
2021 | 2020 |
£ | £ |
Work-in-progress |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
8. | CASH AT BANK AND IN HAND |
2021 | 2020 |
£ | £ |
Bank deposit account |
Bank current account | - | 20,067 |
Cash in hand |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 10) |
Trade creditors |
Taxation and social security |
Other creditors |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
10. | LOANS |
An analysis of the maturity of loans is given below: |
2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank overdraft |
The bank overdraft is secured by a fixed and floating charge over all property and assets present and future with Svenska Handelsbanken AB dated 11 June 2009. |
12. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 460 | 639 |
Deferred |
tax |
£ |
Balance at 1 October 2020 |
Provided during year | ( |
) |
Accelerated capital allowances |
Balance at 30 September 2021 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1 | 50 | 50 |
J.C. DESIGNS LIMITED (REGISTERED NUMBER: 01597319) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
14. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. |
2021 | 2020 |
£ | £ |
Contributions payable by the company for the year | 6,727 | 7,923 |
Contributions payable to the fund at the year end included in other creditors | (1,376 | ) | (1,433 | ) |
15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included within other debtors at the balance sheet date is an amount of £70,724 (2020: £70,546) due from the directors of the company. |
Interest of £3,054 (2020: £3,603) has been charged on this loan at the beneficial rate set by HMRC during the year. |
16. | RELATED PARTY DISCLOSURES |
Other related parties |
2021 | 2020 |
£ | £ |
Purchases from a related party | 33,000 | 33,000 |
Amounts payable to related party include in trade creditors | 53,828 | 28,050 |
The amounts shown above concern transactions with J Burchell and C Burchell. |
17. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr J Burchell and Mrs C Burchell, who are directors of the company, and between them own 100% of the company's issued share capital. |