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COMPANY REGISTRATION NUMBER: 09729545
JVX Projects Limited
Filleted Unaudited Abridged Financial Statements
31 July 2022
JVX Projects Limited
Abridged Statement of Financial Position
31 July 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
5
697
1,551
Current assets
Debtors
15,439
158,991
Cash at bank and in hand
585,060
971,251
---------
------------
600,499
1,130,242
Creditors: amounts falling due within one year
388,466
862,304
---------
------------
Net current assets
212,033
267,938
---------
---------
Total assets less current liabilities
212,730
269,489
Provisions
Taxation including deferred tax
132
295
---------
---------
Net assets
212,598
269,194
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
212,498
269,094
---------
---------
Shareholder funds
212,598
269,194
---------
---------
These abridged 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 Section 1A of 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2022 in accordance with Section 444(2A) of the Companies Act 2006.
JVX Projects Limited
Abridged Statement of Financial Position (continued)
31 July 2022
These abridged financial statements were approved by the board of directors and authorised for issue on 2 September 2022 , and are signed on behalf of the board by:
Mr T J Cosgrove
Director
Company registration number: 09729545
JVX Projects Limited
Notes to the Abridged Financial Statements
Year ended 31 July 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 92B King Street, Knutsford, Cheshire, WA16 6ED, United Kingdom.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, '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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Turnover in respect of long-term contracts and contracts for ongoing services represents the value of the work done in the period and is recognised by reference to the stage of completion, based on the costs incurred up to the reporting date as a proportion of the expected total costs for the contract as a whole. Fees invoiced in advance for work not yet done at the reporting date are deferred accordingly.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods and is measured at the amounts of tax expected to be payable or recoverable using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost and are subsequently stated at cost less accumulated depreciation.
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
-
20% straight line
Office equipment
-
33% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
£
Cost
At 1 August 2021 and 31 July 2022
33,489
--------
Depreciation
At 1 August 2021
31,938
Charge for the year
854
--------
At 31 July 2022
32,792
--------
Carrying amount
At 31 July 2022
697
--------
At 31 July 2021
1,551
--------