REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 MARCH 2021 TO 31 DECEMBER 2021 |
FOR |
J E L SOLUTIONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 MARCH 2021 TO 31 DECEMBER 2021 |
FOR |
J E L SOLUTIONS LIMITED |
J E L SOLUTIONS LIMITED (REGISTERED NUMBER: 04469848) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 March 2021 to 31 December 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
J E L SOLUTIONS LIMITED |
COMPANY INFORMATION |
for the Period 1 March 2021 to 31 December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
J E L SOLUTIONS LIMITED (REGISTERED NUMBER: 04469848) |
STATEMENT OF FINANCIAL POSITION |
31 December 2021 |
31.12.21 | 28.2.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Investments | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
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 E L SOLUTIONS LIMITED (REGISTERED NUMBER: 04469848) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 March 2021 to 31 December 2021 |
1. | STATUTORY INFORMATION |
J E L Solutions Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about J E L Solutions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Goodwill |
Goodwill has been fully amortised |
Investments in subsidiaries and associates |
Investments in subsidiaries and associates are carried at cost less impairment. The investments are reviewed for impairments on an annual basis. |
Investment in associates are accounted for in accordance with the cost model, whereby any dividends or other distributions received will be recognised as income. |
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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
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 have been enacted or substantively enacted by the statement of financial position date. |
J E L SOLUTIONS LIMITED (REGISTERED NUMBER: 04469848) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 March 2021 to 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Impairment of assets |
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 March 2021 |
and 31 December 2021 |
AMORTISATION |
At 1 March 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 28 February 2021 |
5. | FIXED ASSET INVESTMENTS |
Shares in | Interest |
group | in |
undertakings | associate | Totals |
£ | £ | £ |
COST |
At 1 March 2021 |
and 31 December 2021 | 401,000 |
NET BOOK VALUE |
At 31 December 2021 | 401,000 |
At 28 February 2021 | 401,000 |
J E L SOLUTIONS LIMITED (REGISTERED NUMBER: 04469848) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 March 2021 to 31 December 2021 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 28.2.21 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 28.2.21 |
£ | £ |
Other creditors |