Registration number:
Unaudited Financial Statements
JCB Med Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
JCB Med Limited
Balance Sheet
31 July 2020
Note |
2020 |
2019 |
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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/(liabilities) |
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( |
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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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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
5 |
5 |
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Profit and loss account |
(169,856) |
(143,904) |
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Shareholders' deficit |
(169,851) |
(143,899) |
For the financial year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
JCB Med Limited
Balance Sheet
31 July 2020
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.
Approved and authorised by the
.........................................
Director
Company Registration Number: 08136359
JCB Med Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2020
General information |
The company is a private company limited by share capital, incorporated in England.
The Company registration number is 08136359
The address of its registered office is:
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 except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The director has confirmed that he is in a position financially to be able to support the company with regard to the provisions that may become payable. The director has reviewed forecasts for a period of 12 months from the balance sheet date and in his opinion the company is a going concern.
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.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
JCB Med Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2020
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income 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.
Tangible assets
Tangible assets are stated in the balance sheet 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.
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 |
Office equipment |
25% straight line |
Fixture and fittings |
25% straight line |
Plant and machinery |
25% straight line |
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.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
JCB Med Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2020
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
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.
Financial instruments
Recognition and measurement
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
JCB Med Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2020
Tangible assets |
Fixtures and fittings |
Office equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 August 2019 |
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At 31 July 2020 |
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Depreciation |
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At 1 August 2019 |
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Charge for the year |
- |
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At 31 July 2020 |
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Carrying amount |
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At 31 July 2020 |
- |
- |
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At 31 July 2019 |
- |
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JCB Med Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2020
Stocks |
2020 |
2019 |
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Work in progress |
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Debtors |
2020 |
2019 |
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Other debtors |
- |
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- |
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JCB Med Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2020
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Loans and borrowings |
- |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2020 |
2019 |
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Due after one year |
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Loans and borrowings |
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- |
Loans and borrowings |
2020 |
2019 |
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Non-current loans and borrowings |
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Bank borrowings |
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- |
2020 |
2019 |
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Current loans and borrowings |
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Bank overdrafts |
- |
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Bank borrowings
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JCB Med Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2020
Related party transactions |
Summary of transactions with other related parties
Loans from related parties
2020 |
Key management |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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2019 |
Key management |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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