Registration number:
J.C. Payne Engineering Limited
for the Year Ended 31 December 2017
J.C. Payne Engineering Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
J.C. Payne Engineering Limited
(Registration number: 00617579)
Balance Sheet as at 31 December 2017
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2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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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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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Revaluation reserve |
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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 2017 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.
Page 1 |
J.C. Payne Engineering Limited
(Registration number: 00617579)
Balance Sheet as at 31 December 2017
Approved and authorised by the
.........................................
Director
Page 2 |
J.C. Payne Engineering Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Revenue recognition
The total turnover of the company for the year has been derived from its pricipal activity of the management of its properties, wholly undertaken in the UK.
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 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.
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:
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J.C. Payne Engineering Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Asset class |
Depreciation method and rate |
Plant and machinery |
20% reducing balance |
Investment property
Defined contribution pension obligation
Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2017 |
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At 31 December 2017 |
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Depreciation |
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At 1 January 2017 |
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Charge for the year |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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At 31 December 2016 |
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Page 4 |
J.C. Payne Engineering Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Investment properties |
2017 |
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At 1 January |
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At 31 December |
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Investment properties have been valued by the directors using their estimates of the properties' open market values.
There has been no valuation of investment property by an independent valuer.
Debtors |
2017 |
2016 |
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Trade debtors |
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Creditors |
Creditors: amounts falling due within one year
2017 |
2016 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
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No. |
£ |
No. |
£ |
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5,251 |
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5,251 |
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