J D Flack Limited formerly known as J D Flack (Haulage) Limited Company Accounts

COMPANY REGISTRATION NUMBER: 00690540

J D FLACK LIMITED FORMERLY KNOWN AS J D FLACK (HAULAGE) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2018

J D FLACK LIMITED FORMERLY KNOWN AS J D FLACK (HAULAGE) LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2018

Contents	Page

Balance sheet 1

Notes to the financial statements 2

J D FLACK LIMITED FORMERLY KNOWN AS J D FLACK (HAULAGE) LIMITED

BALANCE SHEET

31 May 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	4	856	1,039

Current assets

Stocks	5	2,668	3,366
Debtors	6	140	134
Cash at bank and in hand		23,270	27,523
		------------	------------
		26,078	31,023

Creditors: amounts falling due within one year	7	( 17,843)	( 23,503)
		------------	------------
Net current assets		8,235	7,520
		------------	------------
Total assets less current liabilities		9,091	8,559
		------------	------------
Net assets		9,091	8,559
		------------	------------

Capital and reserves

Called up share capital	8	6,000	6,000
Profit and loss account		3,091	2,559
		------------	------------
Members funds		9,091	8,559
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 13 November 2018 , and are signed on behalf of the board by:

I D Flack Director

Company registration number: 00690540

J D FLACK LIMITED FORMERLY KNOWN AS J D FLACK (HAULAGE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 94a Wakefield Road, Clayton West, Huddersfield, HD8 9NN.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the Profit and Loss account represents amounts receivable for services rendered, stated net of Value Added Tax.

Taxation

The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% reducing balance/33.3% straight line
Motor vehicles	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 June 2017 and 31 May 2018	14,116	6,995	21,111
	------------	------------	------------
Depreciation
At 1 June 2017	13,602	6,470	20,072
Charge for the year	52	131	183
	------------	------------	------------
At 31 May 2018	13,654	6,601	20,255
	------------	------------	------------
Carrying amount
At 31 May 2018	462	394	856
	------------	------------	------------
At 31 May 2017	514	525	1,039
	------------	------------	------------

5. Stocks

	2018	2017
	£	£
Raw materials and consumables	2,668	3,366
	------------	------------

6. Debtors

	2018	2017
	£	£
Prepayments and accrued income	140	134
	------------	------------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Accruals and deferred income	699	755
Corporation tax	–	2
Social security and other taxes	584	206
Directors' loan account	16,560	22,540
	------------	------------
	17,843	23,503
	------------	------------

8. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	6,000	6,000	6,000	6,000
	------------	------------	------------	------------

9. Related party transactions

Transactions with directors The directors' loan accounts of £16,560 (2017: £22,540) set out above are unsecured, repayable on demand and currently interest free. The property from which the company operates is owned by I D Flack personally. The company does not pay rent for the use of the property. The bank has a legal charge on the property as part of their security for the company's bank facilities. I D Flack has given a personal guarantee to the bank for £7,000 in support of the company's bank facilities. Control of the company: The company is controlled by the directors.