A&Y Jenkins Ltd - Period Ending 2016-03-31

A&Y Jenkins Ltd

Unaudited Abbreviated Financial Statements

for the Year Ended 31 March 2016

A&Y Jenkins Ltd

Contents

Abbreviated Balance Sheet	1
Notes to the Abbreviated Financial Statements	2 to 3

A&Y Jenkins Ltd

(Registration number: 4670509)
Abbreviated Balance Sheet as at 31 March 2016

	Note	2016 £	2015 £
Fixed assets	2
Tangible assets		4,497	5,827
Current assets
Stocks		480	450
Debtors		4,295	5,438
Cash at bank and in hand		14,525	9,838
		19,300	15,726
Creditors: Amounts falling due within one year		(11,330)	(10,325)
Net current assets		7,970	5,401
Net assets		12,467	11,228
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		12,465	11,226
Shareholders' funds		12,467	11,228

For the year ending 31 March 2016 the company was entitled to exemption 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies regime.

Approved by the Board on 8 December 2016 and signed on its behalf by:

A W J Jenkins
Company secretary and director

Y M Jenkins
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

A&Y Jenkins Ltd

Notes to the Abbreviated Financial Statements for the Year Ended 31 March 2016

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern, which the directors consider appropriate.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company during the period, net of discounts and value added tax.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life:

Asset class	Depreciation method and rate
Plant and machinery	25% on net book value
Motor vehicles	25% on net book value

Stock

Stocks are valued at the lower of cost and net realisable value.

Deferred tax

Deferred taxation 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 financial statements. 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 the current tax rates and laws.Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.Deferred tax assets and liabilities are not discounted.

Page 2

A&Y Jenkins Ltd

Notes to the Abbreviated Financial Statements for the Year Ended 31 March 2016

Hire purchase and leasing

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

Fixed assets

	Tangible assets £	Total £
Cost
At 1 April 2015	12,133	12,133
Additions	173	173
At 31 March 2016	12,306	12,306
Depreciation
At 1 April 2015	6,306	6,306
Charge for the year	1,503	1,503
At 31 March 2016	7,809	7,809
Net book value
At 31 March 2016	4,497	4,497
At 31 March 2015	5,827	5,827

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Page 3