Company Registration No. 04490378 (England and Wales)
JN CASTING AND PRODUCTION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 AUGUST 2015
TO 31 JANUARY 2017
JN CASTING AND PRODUCTION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
JN CASTING AND PRODUCTION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2017
31 January 2017
- 1 -
2017
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
32,270
53,692
Current assets
Debtors
1,144,602
1,251,306
Cash at bank and in hand
101,402
148,923
1,246,004
1,400,229
Creditors: amounts falling due within one year
3
(573,270)
(659,882)
Net current assets
672,734
740,347
Total assets less current liabilities
705,004
794,039
Creditors: amounts falling due after more than one year
4
-
(40,589)
Provisions for liabilities
(6,102)
(7,663)
698,902
745,787
Capital and reserves
Called up share capital
5
1
1
Profit and loss account
698,901
745,786
Shareholder's funds
698,902
745,787
For the financial Period ended 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 17 October 2017
J L Noel
Director
Company Registration No. 04490378
JN CASTING AND PRODUCTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 JANUARY 2017
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Straight line over the length of the lease
Office equipment
25% reducing balance
Website costs
20% straight line
Fixtures and fittings
25% reducing balance
1.4
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 August 2015
190,961
Additions
1,974
At 31 January 2017
192,935
Depreciation
At 1 August 2015
137,269
Charge for the period
23,396
At 31 January 2017
160,665
Net book value
At 31 January 2017
32,270
At 31 July 2015
53,692
JN CASTING AND PRODUCTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2017
- 3 -
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £26,971 (2015 - £25,000).
The bank overdraft is secured by a fixed and floating charge over the company's assets and a limited personal guarantee from the director.
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £40,589).
5
Share capital
2017
2015
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1
6
Transactions with directors
The following directors had interest free loans during the Period. The movement on these loans are as follows:
Amount outstanding
Maximum
2017
2015
in period
£
£
£
J L Noel
195,624
117,918
195,624
7
Ultimate parent company
The ultimate controlling party is J L Noel who is a director and the sole shareholder of the company.