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Financial Statements For The Year Ended 30 June 2017 |
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Jing Tea Limited |
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REGISTERED NUMBER:
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Financial Statements For The Year Ended 30 June 2017 |
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for |
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Jing Tea Limited |
Jing Tea Limited (Registered number: 05142045) |
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Contents of the Financial Statements |
For The Year Ended 30 June 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Jing Tea Limited |
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Company Information |
For The Year Ended 30 June 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Statutory Auditors |
Avalon House |
Waltham Business Park |
Brickyard Road, Swanmore |
Southampton |
Hampshire |
SO32 2SA |
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BANKERS: |
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Covent Garden |
London |
Jing Tea Limited (Registered number: 05142045) |
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Balance Sheet |
30 June 2017 |
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30.6.17 | 30.6.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Jing Tea Limited (Registered number: 05142045) |
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Notes to the Financial Statements |
For The Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Jing Tea Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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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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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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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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. |
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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. |
Jing Tea Limited (Registered number: 05142045) |
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Notes to the Financial Statements - continued |
For The Year Ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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AMORTISATION |
At 1 July 2016 |
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Amortisation for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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Jing Tea Limited (Registered number: 05142045) |
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Notes to the Financial Statements - continued |
For The Year Ended 30 June 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 July 2016 |
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Disposals | ( |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
Plant and |
machinery |
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COST |
At 1 July 2016 |
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Disposals | ( |
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Transfer to ownership | (13,143 | ) |
At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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Transfer to ownership | (13,143 | ) |
At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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6. | STOCKS |
30.6.17 | 30.6.16 |
£ | £ |
Stocks |
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Jing Tea Limited (Registered number: 05142045) |
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Notes to the Financial Statements - continued |
For The Year Ended 30 June 2017 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.17 | 30.6.16 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.17 | 30.6.16 |
£ | £ |
Other loans |
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Finance leases |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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9. | SECURED DEBTS |
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Jing Tea Limited agreed a debenture commencing 10 November 2015. |
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The debenture is secured by way of a fixed charge on all fixed assets and the specified debts held from the date |
of the charge and future. |
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The debenture is also secured by way of a floating charge on all of the floating assets. |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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Butler & Co
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11. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |
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12. | FIRST YEAR ADOPTION |
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These financial statements for the year ended 30 June 2017 are the first financial statements that comply with the |
FRS 102 Section 1A "Small Entities". The effective date of transition from FRSSE 2015 to FRS 102 Section 1A |
"Small Entities" is 1 July 2015. |
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