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REGISTERED NUMBER: 04545429 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Jay-Bee Telecom Limited

Jay-Bee Telecom Limited (Registered number: 04545429)

Contents of the Financial Statements
For The Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Jay-Bee Telecom Limited

Company Information
For The Year Ended 31 March 2023







DIRECTOR: J A Bhatti





REGISTERED OFFICE: Cambridge House
Cambridge Road
Harlow
Essex
CM20 2EQ





REGISTERED NUMBER: 04545429 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Jay-Bee Telecom Limited (Registered number: 04545429)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,883 74,088
Investment property 5 80,829 80,829
164,712 154,917

CURRENT ASSETS
Debtors 6 190,855 480,252
Cash at bank and in hand 99,472 369
290,327 480,621
CREDITORS
Amounts falling due within one year 7 198,007 251,453
NET CURRENT ASSETS 92,320 229,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

257,032

384,085

CREDITORS
Amounts falling due after more than one
year

8

(92,842

)

(220,398

)

PROVISIONS FOR LIABILITIES 10 (10,629 ) (5,656 )
NET ASSETS 153,561 158,031

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 153,461 157,931
SHAREHOLDERS' FUNDS 153,561 158,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Jay-Bee Telecom Limited (Registered number: 04545429)

Statement of Financial Position - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 August 2023 and were signed by:





J A Bhatti - Director


Jay-Bee Telecom Limited (Registered number: 04545429)

Notes to the Financial Statements
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Jay-Bee Telecom 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost and 20% on reducing balance

Government grants
Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Jay-Bee Telecom Limited (Registered number: 04545429)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Jay-Bee Telecom Limited (Registered number: 04545429)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 125,799 29,994 31,314 187,107
Additions 33,407 - 6,651 40,058
Disposals - (18,107 ) - (18,107 )
At 31 March 2023 159,206 11,887 37,965 209,058
DEPRECIATION
At 1 April 2022 86,321 11,448 15,250 113,019
Charge for year 13,569 2,879 2,745 19,193
Eliminated on disposal - (7,037 ) - (7,037 )
At 31 March 2023 99,890 7,290 17,995 125,175
NET BOOK VALUE
At 31 March 2023 59,316 4,597 19,970 83,883
At 31 March 2022 39,478 18,546 16,064 74,088

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 18,107
Disposals (18,107 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 4,797
Charge for year 2,240
Eliminated on disposal (7,037 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 13,310

Jay-Bee Telecom Limited (Registered number: 04545429)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 80,829
NET BOOK VALUE
At 31 March 2023 80,829
At 31 March 2022 80,829

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 190,855 480,252

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 15,886
Hire purchase contracts - 2,788
Trade creditors 42,650 61,250
Taxation and social security 107,433 88,646
Other creditors 47,924 82,883
198,007 251,453

Included within other creditors is a loan taken out under the CBIL scheme.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 10,424
Other creditors 92,842 209,974
92,842 220,398

Included within other creditors is a loan taken out under the CBIL scheme

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 13,212

HSBC Bank Plc have legal charges over all assets & property of the company.

Mr J Bhatti has given HSBC Bank Plc a personal guarantee against the overdraft.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 10,629 5,656

Jay-Bee Telecom Limited (Registered number: 04545429)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 5,656
Charge to Statement of Income and Retained Earnings during year 4,973
Balance at 31 March 2023 10,629

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J A Bhatti
Balance outstanding at start of year - -
Amounts advanced 22,730 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,730 -