Registered number
08665197
J.D.Supplier Limited
Unaudited Filleted Accounts
31 March 2023
J.D.Supplier Limited
Registered number: 08665197
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 426,604 356,275
Current assets
Stocks 89,960 41,760
Debtors 4 141,685 128,393
Cash at bank and in hand 20,146 43,576
251,791 213,729
Creditors: amounts falling due within one year 5 (350,978) (342,803)
Net current liabilities (99,187) (129,074)
Total assets less current liabilities 327,417 227,201
Creditors: amounts falling due after more than one year 6 (141,416) (81,654)
Net assets 186,001 145,547
Capital and reserves
Called up share capital 100 100
Profit and loss account 185,901 145,447
Shareholders' funds 186,001 145,547
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Jagtar Singh
Director
Approved by the board on 16 August 2023
J.D.Supplier Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 15% reducing balance basis
Motor vans 15% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Leasehold premises Office equipment Motor vans Total
£ £ £ £
Cost
At 1 April 2022 2,270 56,350 589,672 648,292
Additions - 17,424 127,788 145,212
At 31 March 2023 2,270 73,774 717,460 793,504
Depreciation
At 1 April 2022 - 28,381 263,636 292,017
Charge for the year - 6,809 68,074 74,883
At 31 March 2023 - 35,190 331,710 366,900
Net book value
At 31 March 2023 2,270 38,584 385,750 426,604
At 31 March 2022 2,270 27,969 326,036 356,275
4 Debtors 2023 2022
£ £
Vat repayment 32,319 19,027
Rent deposit 5,285 5,285
Related party balances 104,081 104,081
141,685 128,393
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's current account 21,765 46,787
Obligations under finance lease and hire purchase contracts 96,472 74,402
Trade creditors 221,026 218,114
Other taxes and social security costs 135 500
Other creditors and accruals 3,500 3,000
350,978 342,803
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 141,416 81,654
7 Related party transactions 2023 2022
£ £
During the year the company paid interim dividends to the
shareholders who are also the directors.
Mr Jagtar Singh 33,000 55,000
Dhillons Hayes Ltd
Mr Jagtar Singh, a director and shareholder of this company is also a director and shareholder of Dhillons Hayes Ltd.
An interest free and unsecured loan to Dhillons Hayes Ltd yet to be reimbursed to the company.
Amount due from the related party 104,081 104,081
8 Controlling party
Mr Jagtar Singh, a director, together with members of his close family, control the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued share capital.
9 Other information
J.D.Supplier Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Leeland Mansions
Leeland Road
West Ealing
London
W13 9HE
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