Company Registration No. 08581521 (England and Wales)
JUICE MAN LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2017
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
JUICE MAN LIMITED
COMPANY INFORMATION
Director
A J Cooper
Secretary
L.A. International Limited
Company number
08581521
Registered office
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
Accountants
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
JUICE MAN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JUICE MAN LIMITED
Company Registration No. 08581521
BALANCE SHEET
AS AT
31 MARCH 2017
31 March 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,070
26,030
Current assets
Stocks
-
5,000
Debtors
4
387,076
16,998
Cash at bank and in hand
4,622
4,423
391,698
26,421
Creditors: amounts falling due within one year
5
(305,387)
(273,059)
Net current assets/(liabilities)
86,311
(246,638)
Total assets less current liabilities
99,381
(220,608)
Creditors: amounts falling due after more than one year
6
-
(10,355)
Net assets/(liabilities)
99,381
(230,963)
Capital and reserves
Called up share capital
7
400
400
Share premium account
138,587
138,587
Profit and loss reserves
(39,606)
(369,950)
Total equity
99,381
(230,963)
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 31 March 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.
JUICE MAN LIMITED
Company Registration No. 08581521
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2017
31 March 2017
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 22 December 2017
A J Cooper
Director
JUICE MAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
- 3 -
1
Accounting policies
Company information
Juice Man Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 March 2017
are the
first
financial statements of Juice Man Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover
represents amounts receivable for the manufacture of soft drinks, production of mineral waters and other bottled waters net of Value Added Tax and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured 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:
Equipment
4 years straight line
Motor vehicles
4 years straight line
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
.
JUICE MAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
1
Accounting policies
(Continued)
- 4 -
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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.
1.6
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.
1.7
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.
1.8
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 0 (2016 - 1
).
JUICE MAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
- 5 -
3
Tangible fixed assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2016 and 31 March 2017
34,156
17,685
51,841
Depreciation and impairment
At 1 April 2016
16,968
8,843
25,811
Depreciation charged in the year
8,539
4,421
12,960
At 31 March 2017
25,507
13,264
38,771
Carrying amount
At 31 March 2017
8,649
4,421
13,070
At 31 March 2016
17,187
8,843
26,030
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
1,779
16,392
Other debtors
385,297
606
387,076
16,998
5
Creditors: amounts falling due within one year
2017
2016
Notes
£
£
Bank loans and overdrafts
889
7,553
Obligations under finance leases
-
4,050
Trade creditors
5,002
54,554
Other taxation and social security
25,156
10,253
Other creditors
272,889
195,149
Accruals and deferred income
1,451
1,500
305,387
273,059
Included within creditors due within one year are secured finance leases of £Nil (2016 - £4,050). These are secured on the asset to which they relate.
JUICE MAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
- 6 -
6
Creditors: amounts falling due after more than one year
2017
2016
£
£
Other creditors
-
10,355
Included within creditors falling due in more than one year are secured finance leases of £Nil (2016 - £10,355). These are secured on the asset to which they relate.
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
40,000 Ordinary shares of 1p each
400
400
400
400
8
Related party transactions
At the balance sheet date the company owed
A J Cooper
, the director, £25,537 (2016 - £100,343
). This loan is interest free and repayable on demand.
At the balance sheet date the company owed £2,870 (2016 - £93,881
) to
Dru Cooper Limited
, a connected company by means of common control.
At the balance sheet date the company owed £244,277
to
Dru Cooper Inc
, a connected company by means of common control.
During the year the company made sales to Dru Cooper Inc, a connected company through common control, totalling £241,247.
During the year the company made sales to Dru Cooper Limited, a connected company through common control, totalling £120,000.