true Jack Armstrong & Co. Limited 02777353 2016-01-31 -46250 -46733 -41250 -41733 5000 5000 -41250 -41733 -41250 -41733 -41550 -41990 41627 42718 77 728 68 576 0 148 9 4 300 257 300 257 Basis of accounting The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). Turnover The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Fixed Assets All fixed assets are initially recorded at cost. 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. Equipment reducing balance/ 3 years straight line 0.1500 1409 1287 122 1109 1030 79 1409 1287 122 1109 1030 79 Ordinary 1000000 1 1000000 1000000 Ordinary 1 5000 5000 5000 During the year the director made payments on behalf of the company totalling £168 (2015 - £3,599) and the director withdrew £2,205 (2015 - £200). Transactions with the director are interest free, unsecured and repayable on demand. Going Concern Going Concern As at 31 January 2016 the company had a balance sheet deficit of £41,250 (2015 - £41,733) and is therefore dependent upon the continued support of its director. Although losses have been sustained in the current and previous years, the company has traded profitably in the current year and in the past. The director is actively investigating new avenues of income to continue the company's return to a profitable position. The director therefore considers the company to be a going concern and the accounts have been prepared on that basis. 2016-09-19 S Armstrong true true true true xbrli:shares iso4217:GBP xbrli:pure Jack Armstrong & Co. Limited 2015-02-01 2016-01-31 Jack Armstrong & Co. Limited 2014-02-01 2015-01-31 Jack Armstrong & Co. Limited 2014-01-31 Jack Armstrong & Co. Limited 2015-01-31 Jack Armstrong & Co. Limited 2015-01-31 Jack Armstrong & Co. Limited 2016-01-31 2016-09-23