Registration number:
JDB Enterprise Group Ltd
for the Year Ended 31 December 2016
Certified Accountant
6 Woodside Place
Wildhill Road
Woodside
Hatfield
Hertfordshire
AL9 6DN
JDB Enterprise Group Ltd
Contents
Company Information |
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Accountants' Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
JDB Enterprise Group Ltd
Company Information
Directors |
A Brunt M P Morgan J Brunt |
Registered office |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
JDB Enterprise Group Ltd
for the Year Ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JDB Enterprise Group Ltd for the year ended 31 December 2016 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of JDB Enterprise Group Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JDB Enterprise Group Ltd and state those matters that we have agreed to state to the Board of Directors of JDB Enterprise Group Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JDB Enterprise Group Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that JDB Enterprise Group Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JDB Enterprise Group Ltd. You consider that JDB Enterprise Group Ltd 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 accounts of JDB Enterprise Group Ltd. 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 accounts.
......................................
Certified Accountant
Wildhill Road
Woodside
Hatfield
Hertfordshire
AL9 6DN
Page 2 |
JDB Enterprise Group Ltd
Statement of Comprehensive Income for the Year Ended 31 December 2016
Note |
2016 |
2015 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 3 |
JDB Enterprise Group Ltd
(Registration number: 07786732)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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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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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2016 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 4 |
JDB Enterprise Group Ltd
(Registration number: 07786732)
Balance Sheet as at 31 December 2016
Approved and authorised by the
.........................................
A Brunt
Director
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M P Morgan
Director
.........................................
J Brunt
Director
Page 5 |
JDB Enterprise Group Ltd
Statement of Changes in Equity for the Year Ended 31 December 2016
Share capital |
Profit and loss account |
Total |
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At 1 January 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 December 2016 |
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Share capital |
Profit and loss account |
Total |
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At 1 January 2015 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 December 2015 |
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Page 6 |
JDB Enterprise Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
The principal place of business is:
1st Floor Venture House
6 Silver Court
Watchmead
Welwyn Garden City
Hertfordshire
AL7 1TS
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.
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:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
33% 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.
Page 7 |
JDB Enterprise Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 8 |
JDB Enterprise Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Debtors |
2016 |
2015 |
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Trade debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Bank loans and overdrafts |
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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Loans and borrowings |
Page 9 |
JDB Enterprise Group Ltd
Notes to the Financial Statements for the Year Ended 31 December 2016
2016 |
2015 |
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Current loans and borrowings |
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Bank overdrafts |
- |
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Dividends |
Final dividends paid
2016 |
2015 |
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Final dividend of £
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Related party transactions |
Key management compensation
2016 |
2015 |
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Salaries and other short term employee benefits |
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Expenditure with and payables to related parties
2016 |
Key management |
Amounts payable to related party |
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2015 |
Key management |
Amounts payable to related party |
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Transition to FRS 102 |
Page 10 |
JDB Enterprise Group Ltd
Detailed Profit and Loss Account for the Year Ended 31 December 2016
2016 |
2015 |
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Turnover (analysed below) |
221,996 |
190,601 |
Gross profit (%) |
100% |
100% |
Administrative expenses |
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Employment costs (analysed below) |
(8,040) |
(8,110) |
Establishment costs (analysed below) |
(2,202) |
(1,759) |
General administrative expenses (analysed below) |
(41,299) |
(37,875) |
Finance charges (analysed below) |
(5,255) |
(4,172) |
Depreciation costs (analysed below) |
(21,037) |
(9,032) |
(77,833) |
(60,948) |
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Operating profit |
144,163 |
129,653 |
Other interest receivable and similar income (analysed below) |
- |
17 |
Profit before tax |
144,163 |
129,670 |
Page 11 |
JDB Enterprise Group Ltd
Detailed Profit and Loss Account for the Year Ended 31 December 2016
2016 |
2015 |
Turnover |
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Rendering of services, UK |
221,996 |
190,601 |
Employment costs |
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Directors remuneration |
(8,040) |
(7,440) |
Staff welfare |
- |
(670) |
(8,040) |
(8,110) |
Establishment costs |
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Rent |
(702) |
(259) |
Use of home as office |
(1,500) |
(1,500) |
(2,202) |
(1,759) |
General administrative expenses |
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Telephone and fax |
(180) |
(1,323) |
Computer software and maintenance costs |
(434) |
(423) |
Printing, postage and stationery |
(277) |
(624) |
Trade and professional journals |
(1,316) |
(2,098) |
Trade subscriptions |
(2,303) |
(1,229) |
Sundry expenses |
- |
(570) |
Motor expenses |
(6,500) |
(6,500) |
Travel and subsistence |
(562) |
- |
Advertising |
(3,617) |
(3,938) |
Accountancy fees |
(1,080) |
(1,032) |
Legal and professional fees |
(3,991) |
(5,224) |
Bad debts written off |
(21,039) |
(14,914) |
(41,299) |
(37,875) |
Finance charges |
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Bank charges |
(5,255) |
(4,172) |
Depreciation costs |
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Depreciation of office equipment (owned) |
(21,037) |
(9,032) |
Page 12 |