Company Registration No. 09486707 (England and Wales)
JUNGLE LAW LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2020
PAGES FOR FILING WITH REGISTRAR
JUNGLE LAW LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JUNGLE LAW LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2020
30 September 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
292
1,661
Current assets
Stocks
14,445
Debtors
4
133,743
64,994
Cash at bank and in hand
50,992
3,451
184,735
82,890
Creditors: amounts falling due within one year
5
(44,497)
(47,791)
Net current assets
140,238
35,099
Total assets less current liabilities
140,530
36,760
Provisions for liabilities
(55)
(316)
Net assets
140,475
36,444
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
140,474
36,443
Total equity
140,475
36,444
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the period 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.
JUNGLE LAW LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2020
30 September 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 June 2021
Mr C E Sparkes
Director
Company Registration No. 09486707
JUNGLE LAW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2020
- 3 -
1
Accounting policies
Company information
Jungle Law Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
32 Brenkley Way, Blezard Business Park, Seaton Burn, Newcastle upon Tyne, NE13 6DS.
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.
1.2
Reporting period
[ FRS 102
3.10 An entity shall present a complete set of financial statements (including comparative
information as set out in paragraph 3.14) at least annually. When the end of an entity’s
reporting period changes and the annual financial statements are presented for a
period longer or shorter than one year, the entity shall disclose the following:
(a) that fact;
(b) the reason for using a longer or shorter period; and
(c) the fact that comparative amounts presented in the financial statements (including
the related notes) are not entirely comparable.
]
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.
1.4
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:
Computer equipment
3 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
.
1.5
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.
JUNGLE LAW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
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.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2020
2019
Number
Number
Total
1
1
JUNGLE LAW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2020
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2019 and 30 September 2020
4,122
Depreciation and impairment
At 1 April 2019
2,461
Depreciation charged in the period
1,369
At 30 September 2020
3,830
Carrying amount
At 30 September 2020
292
At 31 March 2019
1,661
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
9,168
Other debtors
124,575
64,994
133,743
64,994
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
336
Corporation tax
39,787
28,027
Other taxation and social security
25
17,324
Other creditors
4,349
2,440
44,497
47,791
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1 ordinary share of £1 each
1
1
7
Related party transactions
JUNGLE LAW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2020
7
Related party transactions
(Continued)
- 6 -
Included in other debtors is a directors loan account balance of £124,936 (2019: £65,246 credit) due from Mr C Sparkes.