REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2014 |
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FOR |
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J.J.J. OPTICAL LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2014 |
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FOR |
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J.J.J. OPTICAL LIMITED |
J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Chartered Accountants' Report | 3 |
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Profit and Loss Account | 4 |
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Balance Sheet | 5 |
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Notes to the Financial Statements | 7 |
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J.J.J. OPTICAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2014. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2014 to the date of this report. |
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This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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SIGNED ON BEHALF OF THE BOARD: |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
J.J.J. OPTICAL LIMITED |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of J.J.J. Optical Limited for the year ended 31 December 2014 which comprise the Profit and Loss Account, the Balance |
Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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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 icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of J.J.J. Optical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J.J.J. Optical Limited and state those matters that we have agreed to state to the Board of Directors of J.J.J. Optical Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that J.J.J. Optical 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 J.J.J. Optical Limited. You consider that J.J.J. Optical Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of J.J.J. Optical 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. |
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23 September 2015 |
J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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31/12/14 | 31/12/13 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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40,848 | 36,624 |
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Other operating income |
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OPERATING PROFIT | 2 |
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Interest payable and similar charges |
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PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
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Tax on profit on ordinary activities | 3 |
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PROFIT FOR THE FINANCIAL YEAR |
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J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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BALANCE SHEET |
31 DECEMBER 2014 |
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31/12/14 | 31/12/13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Debtors | 8 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 10 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Revaluation reserve | 12 |
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Profit and loss account | 12 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(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.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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BALANCE SHEET - continued |
31 DECEMBER 2014 |
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The financial statements were approved by the Board of Directors on
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J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Goodwill |
The directors consider that goodwill has a carrying value at least equal to its original cost and therefore amortisation is not |
required. Annual assessments of the carrying value are carried out by the directors. |
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Tangible fixed assets |
Depreciation of fixed assets is calculated to write off their cost over their estimated useful lives as follows: |
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Computers 33% straight line |
Fixtures and fittings 25% reducing balance |
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No depreciation is provided on freehold land and buildings as the directors consider that net book value is less than or equal |
to the open market value. |
The directors consider the valuation of investment property at the end of each year and if any reduction in value is |
considered permanent the carrying value is reduced accordingly. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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2. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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31/12/14 | 31/12/13 |
£ | £ |
Depreciation - owned assets |
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Directors' remuneration |
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J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
31/12/14 | 31/12/13 |
£ | £ |
Current tax: |
UK corporation tax |
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Tax on profit on ordinary activities |
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UK corporation tax has been charged at
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4. | DIVIDENDS |
31/12/14 | 31/12/13 |
£ | £ |
Ordinary shares shares of £1 each |
Final | 25,000 | 11,000 |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 January 2014 |
and 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Short | Investment | and |
property | leasehold | property | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2014 |
and 31 December 2014 |
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DEPRECIATION |
At 1 January 2014 |
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Charge for year |
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At 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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7. | STOCKS |
31/12/14 | 31/12/13 |
£ | £ |
Stocks |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/14 | 31/12/13 |
£ | £ |
Trade debtors | 7,319 | 7,455 |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/14 | 31/12/13 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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VAT |
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Directors' loan accounts |
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Accrued expenses | 1,500 | 1,500 |
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10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/12/14 | 31/12/13 |
£ | £ |
Mortgage | 176,161 | 176,086 |
Director's loan | 51,124 | 73,147 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/12/14 | 31/12/13 |
value: | £ | £ |
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Ordinary shares | £1 |
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J.J.J. OPTICAL LIMITED (REGISTERED NUMBER: 03599887) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2014 |
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12. | RESERVES |
Profit |
and loss | Revaluation |
account | reserve | Totals |
£ | £ | £ |
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At 1 January 2014 |
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Profit for the year |
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Dividends | ( |
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At 31 December 2014 |
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13. | ULTIMATE CONTROLLING PARTY |
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The company was controlled throughout the current and preceding year by Mrs A Hargreaves. |