Company Registration No. 01465700 (England and Wales)
Jeff Edwards Transport Limited
Unaudited accounts
for the year ended 31 December 2019
Jeff Edwards Transport Limited
Unaudited accounts
Contents
Jeff Edwards Transport Limited
Company Information
for the year ended 31 December 2019
Company Number
01465700 (England and Wales)
Registered Office
21 Horniman Drive
Forest Hill
London
SE23 3BJ
UK
Accountants
Ambly Accountants Ltd
56 Amberley Gardens
Stoneleigh
Surrey
KT19 0NG
Jeff Edwards Transport Limited
Statement of financial position
as at
31 December 2019
Tangible assets
26,144
34,779
Inventories
122,657
82,291
Cash at bank and in hand
26,396
68,137
Creditors: amounts falling due within one year
(125,420)
(155,765)
Net current assets
81,673
63,461
Net assets
107,817
98,240
Called up share capital
100
100
Profit and loss account
107,717
98,140
Shareholders' funds
107,817
98,240
For the year ending 31 December 2019 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 20 August 2020 and were signed on its behalf by
J L Edwards
Director
Company Registration No. 01465700
Jeff Edwards Transport Limited
Notes to the Accounts
for the year ended 31 December 2019
Jeff Edwards Transport Limited is a private company, limited by shares, registered in England and Wales, registration number 01465700. The registered office is 21 Horniman Drive, Forest Hill, London, SE23 3BJ, UK.
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.
The accounts are presented in £ sterling.
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:
Motor vehicles
25% Reducing balance
Fixtures & fittings
15% Reducing balance
Computer equipment
15% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Income is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Jeff Edwards Transport Limited
Notes to the Accounts
for the year ended 31 December 2019
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2019
55,964
44,900
2,629
103,493
At 31 December 2019
55,964
44,900
2,629
103,493
At 1 January 2019
46,796
20,389
1,529
68,714
Charge for the year
2,342
6,128
165
8,635
At 31 December 2019
49,138
26,517
1,694
77,349
At 31 December 2019
6,826
18,383
935
26,144
At 31 December 2018
9,168
24,511
1,100
34,779
Finished goods
122,657
82,291
Trade debtors
43,834
53,188
Accrued income and prepayments
14,206
15,610
7
Creditors: amounts falling due within one year
2019
2018
Trade creditors
3,588
5,214
Taxes and social security
6,685
16,434
Loans from directors
110,930
118,345
8
Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Jeff Edwards Transport Limited
Notes to the Accounts
for the year ended 31 December 2019
9
Operating lease commitments
2019
2018
At 31 December 2019 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
24,750
66,000
Within two to five years
22,750
81,250
10
Transactions with related parties
Dividends to the director during the year amount to Nil (2018 - £Nil).
At the year end J Edwards is owed from the company £110,930 (2018 - £118,345). The loan amount is interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 4 (2018: 4).