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REGISTERED NUMBER: 03674229 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

G J ELECTRONICS LIMITED

G J ELECTRONICS LIMITED (REGISTERED NUMBER: 03674229)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

G J ELECTRONICS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2022







DIRECTORS: R Jefferson
J S Jefferson-George





REGISTERED OFFICE: Units 10-12
Wembdon Business Centre
Bower Road, Smeeth
Ashford
Kent
TN25 6SZ





REGISTERED NUMBER: 03674229 (England and Wales)





ACCOUNTANTS: BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

G J ELECTRONICS LIMITED (REGISTERED NUMBER: 03674229)

BALANCE SHEET
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,633 3,236

CURRENT ASSETS
Stocks 497,215 539,426
Debtors 5 311,155 265,744
Cash at bank 668,801 398,331
1,477,171 1,203,501
CREDITORS
Amounts falling due within one year 6 135,495 41,295
NET CURRENT ASSETS 1,341,676 1,162,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,352,309

1,165,442

CAPITAL AND RESERVES
Called up share capital 600 600
Capital redemption reserve 400 400
Retained earnings 1,351,309 1,164,442
1,352,309 1,165,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

G J ELECTRONICS LIMITED (REGISTERED NUMBER: 03674229)

BALANCE SHEET - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2022 and were signed on its behalf by:





R Jefferson - Director


G J ELECTRONICS LIMITED (REGISTERED NUMBER: 03674229)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2022


1. STATUTORY INFORMATION

G J Electronics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised when it is probable that future economic benefits will flow to the company from the sale of goods and services and is measured as the fair value of consideration which the company expects to receive from those transactions. Sales of goods are recognised at the point of sale or on delivery of the goods and when the risks and rewards of ownership have passed to the customer.

Turnover is recognised net of returns and of trade discounts and is shown exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


G J ELECTRONICS LIMITED (REGISTERED NUMBER: 03674229)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 22,090
Additions 11,791
At 31 March 2022 33,881
DEPRECIATION
At 1 April 2021 18,854
Charge for year 4,394
At 31 March 2022 23,248
NET BOOK VALUE
At 31 March 2022 10,633
At 31 March 2021 3,236

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 193,061 230,840
Other debtors 118,094 34,904
311,155 265,744

G J ELECTRONICS LIMITED (REGISTERED NUMBER: 03674229)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 28,538 17,516
Taxation and social security 104,457 21,516
Other creditors 2,500 2,263
135,495 41,295

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
R Jefferson
Balance outstanding at start of year 690 450
Amounts advanced 161 690
Amounts repaid (690 ) (450 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 161 690

Interest is charged at the statutory rate on overdrawn balances exceeding £10,000.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
G J ELECTRONICS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G J Electronics Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that G J Electronics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G J Electronics Limited. You consider that G J Electronics 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 financial statements of G J Electronics 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 financial statements.






BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH


14 September 2022