Company Registration No. 08613534 (England and Wales)
JACK-ALL PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JULY 2017
PAGES FOR FILING WITH REGISTRAR
JACK-ALL PRODUCTIONS LIMITED
COMPANY INFORMATION
Director
Mr N C Jackson
Company number
08613534
Registered office
Northern Lights
Cains Brewery Village
5 Mann Street
Liverpool
Merseyside
England
L8 5AF
Accountants
Morris & Co
Chester House
Lloyd Drive
Cheshire Oaks Business Park
Ellesmere Port
Cheshire
CH65 9HQ
JACK-ALL PRODUCTIONS LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
JACK-ALL PRODUCTIONS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JACK-ALL PRODUCTIONS LIMITED FOR THE YEAR ENDED 29 JULY 2017
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jack-All Productions Limited for the Year ended 29 July 2017 which comprise, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
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 http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Jack-All Productions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Jack-All Productions Limited
and state those matters that we have agreed to state to the Board of Directors of Jack-All Productions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jack-All Productions Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Jack-All Productions 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 loss of Jack-All Productions Limited. You consider that Jack-All Productions Limited is exempt from the statutory audit
requirement for the Year.
We have not been instructed to carry out an audit or a review of the financial statements of Jack-All Productions 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.
Morris & Co
27 April 2018
Chartered Accountants
Chester House
Lloyd Drive
Cheshire Oaks Business Park
Ellesmere Port
Cheshire
CH65 9HQ
JACK-ALL PRODUCTIONS LIMITED
BALANCE SHEET
AS AT
29 JULY 2017
29 July 2017
- 2 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,313
3,499
Current assets
Debtors
4
5,656
6,615
Cash at bank and in hand
-
3,481
5,656
10,096
Creditors: amounts falling due within one year
5
(10,725)
(7,286)
Net current (liabilities)/assets
(5,069)
2,810
Total assets less current liabilities
(3,756)
6,309
Capital and reserves
Called up share capital
6
6
6
Profit and loss reserves
(3,762)
6,303
Total equity
(3,756)
6,309
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial Year ended 29 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
JACK-ALL PRODUCTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 JULY 2017
29 July 2017
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 27 April 2018 and are signed on its behalf by:
Mr N C Jackson
Director
Company Registration No. 08613534
JACK-ALL PRODUCTIONS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 JULY 2017
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2015
4
3,143
3,147
Period ended 29 July 2016:
Profit and total comprehensive income for the period
-
3,160
3,160
Issue of share capital
6
2
-
2
Balance at 29 July 2016
6
6,303
6,309
Period ended 29 July 2017:
Loss and total comprehensive income for the period
-
(10,065)
(10,065)
Balance at 29 July 2017
6
(3,762)
(3,756)
JACK-ALL PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JULY 2017
- 5 -
1
Accounting policies
Company information
Jack-All Productions Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Northern Lights, Cains Brewery Village, 5 Mann Street, Liverpool, Merseyside, England, L8 5AF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from
agency
contracts is recognised by reference to
the invoiced date for those invoiced services with revenue from contracts in progress being based upon
the stage of completion
,
when the stage of completion, costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
JACK-ALL PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JULY 2017
1
Accounting policies
(Continued)
- 6 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
JACK-ALL PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JULY 2017
1
Accounting policies
(Continued)
- 7 -
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and 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 employment of an employee or to provide termination benefits.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Year was 1 (2016 - 1).
JACK-ALL PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JULY 2017
- 8 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 July 2016
6,023
Additions
4,026
Disposals
(8,376)
At 29 July 2017
1,673
Depreciation and impairment
At 30 July 2016
2,524
Depreciation charged in the Year
200
Eliminated in respect of disposals
(2,364)
At 29 July 2017
360
Carrying amount
At 29 July 2017
1,313
At 29 July 2016
3,499
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
5,656
6,615
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
2,815
-
Trade creditors
1,227
1,260
Corporation tax
612
612
Other taxation and social security
1,363
151
Other creditors
4,708
5,263
10,725
7,286
JACK-ALL PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JULY 2017
- 9 -
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
0 Ordinary of £1 each
-
6
2 Ordinary A of £1 each
2
-
2 Ordinary B of £1 each
2
-
2 Ordinary C of £1 each
2
-
6
6
Reconciliation of movements during the Year:
Ordinary £1
A Ordinary £1
B Ordinary £1
C Ordinary £1
Number
Number
Number
Number
At 30 July 2016
6
-
-
-
Reclassification
(6)
2
2
2
At 29 July 2017
-
2
2
2