Registration number:
JRS Motorcycles Ltd
Information for Filing with The Registrar
31 October 2019
JRS Motorcycles Ltd
(Registration number: 11038815)
Balance Sheet
31 October 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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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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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 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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.
As permitted by section 444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's Profit and Loss Account.
Approved and authorised by the
J.R. Smith
Director
JRS Motorcycles Ltd
Notes to the Accounts
Year Ended 31 October 2019
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:
Unit 2C
Old Station Yard
Dunnington
York
YO19 5EP
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
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises corporation tax.
The current corporation 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.
JRS Motorcycles Ltd
Notes to the Accounts
Year Ended 31 October 2019
Tangible assets
Tangible assets are stated in the balance sheet 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 |
Motor vehicles |
4 years straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company during the year, was
JRS Motorcycles Ltd
Notes to the Accounts
Year Ended 31 October 2019
Tangible assets |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 November 2018 |
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At 31 October 2019 |
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Depreciation |
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At 1 November 2018 |
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Charge for the year |
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At 31 October 2019 |
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Carrying amount |
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At 31 October 2019 |
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At 31 October 2018 |
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Debtors |
2019 |
2018 |
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Other debtors |
- |
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- |
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Creditors |
Note |
2019 |
2018 |
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Due within one year |
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Amounts due to related parties |
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Corporation tax |
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Other taxes and social security |
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- |
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Other creditors |
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JRS Motorcycles Ltd
Notes to the Accounts
Year Ended 31 October 2019
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £1 each |
5 |
5 |
5 |
5 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £