Company Registration No. 03281238 (England and Wales)
J.I.T. LOGISTICS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
J.I.T. LOGISTICS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
J.I.T. LOGISTICS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
532,875
538,006
Current assets
Stocks
18,615
20,825
Debtors
120,585
130,605
Cash at bank and in hand
197,203
336,036
336,403
487,466
Creditors: amounts falling due within one year
3
(540,945)
(736,632)
Net current liabilities
(204,542)
(249,166)
Total assets less current liabilities
328,333
288,840
Creditors: amounts falling due after more than one year
4
(34,164)
(55,897)
Provisions for liabilities
(74,505)
(65,906)
219,664
167,037
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
219,564
166,937
Shareholders' funds
219,664
167,037
J.I.T. LOGISTICS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2016
30 September 2016
- 2 -
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 June 2017
Mrs J Blake
Director
Company Registration No. 03281238
J.I.T. LOGISTICS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements are prepared on the going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10% straight line
Plant and machinery
15% Reducing Balance
Fixtures, fittings & equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
The accounting policy in respect of deferred tax has been changed to reflect the requirements of FRS19 - Deferred tax. Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
J.I.T. LOGISTICS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 4 -
2
Fixed assets
Intangible
Tangible
Total
£
£
£
Cost
At 1 October 2015
14,000
1,449,742
1,463,742
Additions
-
158,012
158,012
Disposals
-
(139,073)
(139,073)
At 30 September 2016
14,000
1,468,681
1,482,681
Depreciation
At 1 October 2015
14,000
911,735
925,735
On disposals
-
(116,297)
(116,297)
Charge for the year
-
140,368
140,368
At 30 September 2016
14,000
935,806
949,806
Net book value
At 30 September 2016
-
532,875
532,875
At 30 September 2015
-
538,006
538,006
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £19,810).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £55,897).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
6
Ultimate parent company
The ultimate parent company is J.I.T. Holdings Limited a company registered in England and Wales.