Registration number:
for the Year Ended
Jonathan Britton Consulting Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Jonathan Britton Consulting Ltd
Company Information
Directors |
Mr J A Britton Mrs N C Dean |
Registered office |
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Accountants |
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Jonathan Britton Consulting Ltd
(Registration number: 07900240)
Balance Sheet as at 31 December 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
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Jonathan Britton Consulting Ltd
(Registration number: 07900240)
Balance Sheet as at 31 December 2018
Approved and authorised by the
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Director
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Jonathan Britton Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
15 Jubbs Lane
Ogbourne St. George
Marlborough
Wiltshire
SN8 1SR
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Revenue from the sale of houses is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on the date of exchange of contracts).
Tax
The tax expense for the period comprises tax currently payable and deferred taxation..
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax has not been provided as the amounts involved are immaterial.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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Jonathan Britton Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2018
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Employee benefits
The costs of short-term employee benefits are recognised as a liabilityand an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employmernt of an employee or to provide termination benfits.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Jonathan Britton Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2018
Tangible assets |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2018 |
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At 31 December 2018 |
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Depreciation |
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At 1 January 2018 |
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Charge for the year |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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At 31 December 2017 |
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Stocks |
2018 |
2017 |
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Work in progress |
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Debtors |
2018 |
2017 |
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Other debtors |
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- |
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Jonathan Britton Consulting Ltd
Notes to the Financial Statements for the Year Ended 31 December 2018
Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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2018 |
2017 |
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Due after more than five years |
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After more than five years not by instalments |
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Creditors include loans which are secured of £136,069 (2017 - £Nil). The loan is repayable during 2022. Interest is payable at 3.15%
The mortgage is secured on the company's development property. Additionally, there is a debenture consisting of a floating charge over the company's assets.
Related party transactions |
Included within Creditors: amounts falling due within one year are directors loan accounts.
The directors maintain loan accounts with the company to provide working capital. There are no formal repayment terms and no interest is charged.
At the balance sheet date the balance due to the directors amounted to £42,842 (2017 £138,693)
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