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Company Registration No. 8731023 (England and Wales)
Ilse Jacobsen (Tunbridge Wells) Ltd Unaudited accounts for the year ended 31 October 2018
Ilse Jacobsen (Tunbridge Wells) Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Ilse Jacobsen (Tunbridge Wells) Ltd Company Information for the year ended 31 October 2018
Director
Sharron Parris
Company Number
8731023 (England and Wales)
Registered Office
6 High Street Tunbridge Wells Kent TN1 1UX
Accountants
Ian Sykes and Co Limited 1 Windlesham Gardens Shoreham by Sea West Sussex BN43 5AD
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Ilse Jacobsen (Tunbridge Wells) Ltd Statement of financial position as at 31 October 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
16,893 
22,524 
Current assets
Inventories
5
66,001 
69,950 
Debtors
6
21,107 
6,595 
Cash at bank and in hand
2,173 
4,603 
89,281 
81,148 
Creditors: amounts falling due within one year
7
(110,821)
(102,727)
Net current liabilities
(21,540)
(21,579)
Net (liabilities)/assets
(4,647)
945 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(4,649)
943 
Shareholders' funds
(4,647)
945 
For the year ending 31 October 2018 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 her 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 28 February 2019.
Sharron Parris Director Company Registration No. 8731023
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Ilse Jacobsen (Tunbridge Wells) Ltd Notes to the Accounts for the year ended 31 October 2018
1
Statutory information
Ilse Jacobsen (Tunbridge Wells) Ltd is a private company, limited by shares, registered in England and Wales, registration number 8731023. The registered office is 6 High Street, Tunbridge Wells, Kent, TN1 1UX.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Revenue
Revenue, described as turnover, is the value of goods provided to customers during the year. Revenue is recognised on the sale of goods when the goods are delivered and title has passed.
Inventories
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost included any expenditure incurred in bringing the stock to its present location and condition. A "first in, first out" basis is used.
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
25% reducing balance
Computer equipment
25% reducing balance
Going concern
The company has made a loss during the year and the balance sheet at the year-end shows a deficit of £4,647. However, the director is confident that the company will return to profitability and consequently the going concern basis of accounting has been adopted.
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Ilse Jacobsen (Tunbridge Wells) Ltd Notes to the Accounts for the year ended 31 October 2018
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2017
67,746 
2,537 
70,283 
At 31 October 2018
67,746 
2,537 
70,283 
Depreciation
At 1 November 2017
46,098 
1,661 
47,759 
Charge for the year
5,412 
219 
5,631 
At 31 October 2018
51,510 
1,880 
53,390 
Net book value
At 31 October 2018
16,236 
657 
16,893 
At 31 October 2017
21,648 
876 
22,524 
5
Inventories
2018 
2017 
£ 
£ 
Finished goods
66,001 
69,950 
66,001 
69,950 
6
Debtors
2018 
2017 
£ 
£ 
Trade debtors
1,995 
6,595 
Other debtors
19,112 
- 
21,107 
6,595 
7
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Bank loans and overdrafts
4,633 
3,530 
Trade creditors
90,690 
77,718 
Taxes and social security
14,198 
20,233 
Loans from directors
- 
46 
Accruals
1,300 
1,200 
110,821 
102,727 
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Ilse Jacobsen (Tunbridge Wells) Ltd Notes to the Accounts for the year ended 31 October 2018
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Sharron Parris
- 
19,085 
- 
19,085 
- 
19,085 
- 
19,085 
During the year the director received payments in excess of her dividend entitlement totalling £19,085 and this amount is included in the balance sheet within "Other Debtors". The maximum outstanding amount outstanding during the year was £19,085. The loan will be repaid in full by 31 March 2019.
9
Average number of employees
During the year the average number of employees was 5 (2017: 5).
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