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Registration number: 08395798

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2017

DRP + Co Accountants Limited
1st Floor 6 St Johns Court
Upper Fforest Way
Swansea
C & C of Swansea
SA6 8QQ

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Company Information

Directors

Mr Edward Alan THOMAS

Mr Maldwyn Lloyd POPE

Mr Stephen Redvers PENNY

Mr Leigh Andrew John DINEEN

Donald George KEEFE

Registered office

Liberty Stadium
Landore
Swansea
C & C of Swansea
SA1 2FA

Accountants

DRP + Co Accountants Limited
1st Floor 6 St Johns Court
Upper Fforest Way
Swansea
C & C of Swansea
SA6 8QQ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited
for the Year Ended 28 February 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FROM A JACK TO A KING LIMITED for the year ended 28 February 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of FROM A JACK TO A KING LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of FROM A JACK TO A KING LIMITED and state those matters that we have agreed to state to the Board of Directors of FROM A JACK TO A KING LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FROM A JACK TO A KING LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that FROM A JACK TO A KING LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FROM A JACK TO A KING LIMITED. You consider that FROM A JACK TO A KING LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of FROM A JACK TO A KING LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DRP + Co Accountants Limited
1st Floor 6 St Johns Court
Upper Fforest Way
Swansea
C & C of Swansea
SA6 8QQ

23 November 2017

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

(Registration number: 08395798)
Balance Sheet as at 28 February 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

200

400

Current assets

 

Debtors

5

5,305

52,802

Cash at bank and in hand

 

12,750

71,516

 

18,055

124,318

Creditors: Amounts falling due within one year

6

(824,420)

(952,510)

Net current liabilities

 

(806,365)

(828,192)

Total assets less current liabilities

 

(806,165)

(827,792)

Provisions for liabilities

-

(120)

Net liabilities

 

(806,165)

(827,912)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(806,265)

(828,012)

Total equity

 

(806,165)

(827,912)

For the financial year ending 28 February 2017 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 accounts for the year in question in accordance with section 476; and

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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

(Registration number: 08395798)
Balance Sheet as at 28 February 2017

Approved and authorised by the Board on 23 November 2017 and signed on its behalf by:
 

.........................................

Mr Leigh Andrew John DINEEN

Director

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Liberty Stadium
Landore
Swansea
C & C of Swansea
SA1 2FA
Wales

The principal place of business is:
Liberty Stadium
Landore
Swansea
C & C of Swansea
SA1 2FA
Wales

These financial statements were authorised for issue by the Board on 23 November 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2016 - 0).

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 March 2016

1,000

1,000

At 28 February 2017

1,000

1,000

Depreciation

At 1 March 2016

600

600

Charge for the year

200

200

At 28 February 2017

800

800

Carrying amount

At 28 February 2017

200

200

At 29 February 2016

400

400

5

Debtors

2017
£

2016
£

Trade debtors

5,205

52,702

Other debtors

100

100

5,305

52,802

6

Creditors

Creditors: amounts falling due within one year

Note

2017
£

2016
£

Due within one year

 

Trade creditors

 

16

32,318

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

27,401

Taxation and social security

 

1,396

90

Accruals and deferred income

 

1,000

1,000

Other creditors

 

822,008

891,701

 

824,420

952,510

 

FROM A JACK TO A KING LIMITED

trading as From A Jack To A King Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

Other creditors is a loan from Swansea City Football Club (SCFC), this loan is interest free with no set
terms of repayment.

7

Share capital

Allotted, called up and fully paid shares

 

2017

2016

 

No.

£

No.

£

Ordinary shares of £ 1 each

100

100

100

100