Company Registration No. 12484766 (England and Wales)
JK Barnes Ltd
Filleted accounts
for the year ended 28 February 2022
JK Barnes Ltd
Filleted accounts
Contents
JK Barnes Ltd
Company Information
for the year ended 28 February 2022
Director
Jermaine Khan Nugent Barnes
Company Number
12484766 (England and Wales)
Registered Office
29 Lincoln's Inn Fields
Holborn
London
WC2A 3EG
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
JK Barnes Ltd
Statement of financial position
as at
28 February 2022
Cash at bank and in hand
116,663
23,009
Creditors: amounts falling due within one year
(140,878)
(24,205)
Net current assets
290,117
635
Called up share capital
1
1
Profit and loss account
312,614
634
Shareholders' funds
312,615
635
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 November 2022 and were signed on its behalf by
Jermaine Khan Nugent Barnes
Director
Company Registration No. 12484766
JK Barnes Ltd
Notes to the Accounts
for the year ended 28 February 2022
JK Barnes Ltd is a private company, limited by shares, registered in England and Wales, registration number 12484766. The registered office is 29 Lincoln's Inn Fields, Holborn, London, WC2A 3EG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Over 4 years
Computer equipment
Over 3 years
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
JK Barnes Ltd
Notes to the Accounts
for the year ended 28 February 2022
Investments in shares are included at fair value.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
Additions
3,121
7,593
10,714
At 28 February 2022
3,121
7,593
10,714
Charge for the year
1,882
1,040
2,922
At 28 February 2022
1,882
1,040
2,922
At 28 February 2022
1,239
6,553
7,792
5
Investments
Other investments
Valuation at 1 March 2021
-
Valuation at 28 February 2022
14,706
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
106,842
23,605
8
Share capital
2022
2021
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
JK Barnes Ltd
Notes to the Accounts
for the year ended 28 February 2022
9
Average number of employees
During the year the average number of employees was 1 (2021: 1).