Company Registration No. 01465700 (England and Wales)
Jeff Edwards Transport Limited
Unaudited accounts
for the year ended 31 December 2017
Jeff Edwards Transport Limited
Unaudited accounts
Contents
Jeff Edwards Transport Limited
Company Information
for the year ended 31 December 2017
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 2017
Tangible assets
34,350
34,298
Inventories
107,195
72,970
Cash at bank and in hand
28,310
69,850
Creditors: amounts falling due within one year
(155,871)
(91,237)
Net current assets
40,189
120,386
Net assets
74,539
154,684
Called up share capital
100
100
Profit and loss account
74,439
154,584
Shareholders' funds
74,539
154,684
For the year ending 31 December 2017 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.
Approved by the Board on 1 September 2018.
J L Edwards
Director
Company Registration No. 01465700
Jeff Edwards Transport Limited
Notes to the Accounts
for the year ended 31 December 2017
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 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 2017
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2017
74,525
28,079
2,629
105,233
Additions
-
8,749
-
8,749
Disposals
(18,561)
-
-
(18,561)
At 31 December 2017
55,964
36,828
2,629
95,421
At 1 January 2017
57,429
12,399
1,107
70,935
Charge for the year
4,364
3,664
228
8,256
On disposals
(18,120)
-
-
(18,120)
At 31 December 2017
43,673
16,063
1,335
61,071
At 31 December 2017
12,291
20,765
1,294
34,350
At 31 December 2016
17,096
15,680
1,522
34,298
Finished goods
107,195
72,970
Trade debtors
33,160
47,783
Accrued income and prepayments
20,760
21,020
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
8,020
16,204
Taxes and social security
3,004
9,676
Other creditors
2,041
3,306
Loans from directors
107,972
57,734
8
Share capital
2017
2016
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 2017
9
Operating lease commitments
2017
2016
At 31 December 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
66,000
45,000
Within two to five years
147,250
127,500
10
Transactions with related parties
Dividends to the director during the year amount to Nil (2017 - £10,000).
11
Average number of employees
During the year the average number of employees was 3 (2016: 3).