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REGISTERED NUMBER: 01087200 (England and Wales)














Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 January 2023

for

JPR Mechanical and Electrical Services
Limited

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Profit and Loss Account 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Notes to the Financial Statements 14


JPR Mechanical and Electrical Services
Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: J Moran
S Moran





REGISTERED OFFICE: North Street
Stoke-on-Trent
Staffordshire
ST4 7SA





REGISTERED NUMBER: 01087200 (England and Wales)





AUDITORS: Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Strategic Report
for the Year Ended 31 January 2023

The directors present their strategic report for the year ended 31 January 2023.

REVIEW OF BUSINESS
The Directors are please to report that the company generated an increase in turnover from £16,526,852 to £17,752,295 with subsequent after tax profit levels of £260,199 for the 31st January 2023 year end.

The company enters a new financial year with a positive outlook and strong order book for the foreseeable future.

The company has weathered the storm in a year that saw substantial increases in raw material costs which negatively affected operating profit margins, particularly on fixed price contracts.

During the year, the company implemented internal infrastructure and recruitment measures in order to put it in a good shape for the year ahead.

Prompt payments were made to suppliers and HMRC.

The company maintains its commitment and implementation to apprentice training which is considered essential to future growth and prosperity.

PRINCIPAL RISKS AND UNCERTAINTIES
Operating in the construction sector the company is exposed to protracted payment terms with customers and working capital management issues. The safety of the company's employees whilst on-site is a particular concern too.

The management of the company offset these risks by having strict credit terms with new customers and by developing strong relationships with customers to ensure contract terms are adhered to and problems are headed-off before they become significant. The health and safety of the workforce at construction sites is paramount to the company and our operational risk manager assesses all risks which the workforce may be exposed to before and during our onsite work.

Due to global economic conditions and the war in Ukraine resulting in uncertainty in costs and fuel prices, the Directors will strive to ensure that these are closely monitored.

KEY PERFORMANCE INDICATORS
The directors assess the financial performance of the company by reviewing key financial benchmarks, namely, gross profit percentage, the level of net current assets and net cash.

Gross profit percentage is the measure of gross profit compared with turnover as a percentage and measures the company's ability to maintain a healthy contract price of services provided against managing costs of providing these services.
2023 2022
Gross profit percentage 14.4% 22.7%

Net current assets is the measure of working capital in the business and demonstrates the company's ability to settle short-term debts and obligations as and when they fall due.

2023 2022
Net current assets £2,524,100 £2,290,720

Net cash is the total amount of cash held in the business less the amount of any structured debt. This measure shows the cash in the business in excess of any debt finance.

2023 2022
Net Cash £352,975 £1,305,736


JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Strategic Report
for the Year Ended 31 January 2023

FINANCIAL STATEMENT RISKS
The financial instrument risks affecting the company relate to cashflow risk, credit risk and liquidity risk.

Cashflow risk is the risk that sufficient levels of cash do not flow into the business to allow working capital requirements to be met in a timely manner. The management of the timing of cash inflows and cash outflows is achieved with the close involvement of management with customer and supplier relationships. Management also reviews financial information on a regular basis to determine whether further measures are needed to ensure sufficient cash inflows to the business.

Credit risk is the risk that the company will not receive full settlement on amounts due from customers. This risk is managed through continually monitored credit procedures including having regular dialogue with customers during the conduct of the business.

Liquidity risk is the risk that the company will not have sufficient funds to carry out its short and longer- term objectives. Historically, the company has managed its funding requirements through the retention of cash arising from its operating activities without the need to raise cash through debt finance.

FUTURE DEVELOPMENTS
The company has a strong order book for the current trading year. However the Directors are conscious of global economic certainties in particular fuel and energy prices and the effects that these will have on the UK economy.

ON BEHALF OF THE BOARD:





J Moran - Director


23 October 2023

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Report of the Directors
for the Year Ended 31 January 2023

The directors present their report with the financial statements of the company for the year ended 31 January 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of mechanical, electrical, data services, CCTV and security and maintenance engineers.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2023 will be £ 306,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2022 to the date of this report.

J Moran
S Moran

DISCLOSURE IN THE STRATEGIC REPORT
Future developments and principal risks and uncertainties are disclosed in the strategic report.

The company has chosen in accordance with section 414(c) of the Companies Act 2006 (Strategic and Directors Report) Regulations 2013 to set out in the company's Strategic Report information required by schedule 7 of the Large and Medium Sized Companies and Groups (Accounts and Reports) Regulations 2008.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- state whether applicable United Kingdom Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;
- make judgements and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.

The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Report of the Directors
for the Year Ended 31 January 2023


AUDITORS
The auditors, Thompson Wright Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J Moran - Director


23 October 2023

Report of the Independent Auditors to the Members of
JPR Mechanical and Electrical Services
Limited

Opinion
We have audited the financial statements of JPR Mechanical and Electrical Services Limited (the 'company') for the year ended 31 January 2023 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
JPR Mechanical and Electrical Services
Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
JPR Mechanical and Electrical Services
Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud;

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental (including Waste Electrical and Electronic Equipment recycling (WEEE) Regulations 2013) and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation;

-reading the minutes of meetings of those charged with governance;

Report of the Independent Auditors to the Members of
JPR Mechanical and Electrical Services
Limited


-enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




R Thompson FCA (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited
Chartered Accountants
and Statutory Auditors
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

23 October 2023

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Profit and Loss Account
for the Year Ended 31 January 2023

2023 2022
Notes £    £   

TURNOVER 17,752,295 16,526,852

Cost of sales 15,191,147 12,773,122
GROSS PROFIT 2,561,148 3,753,730

Administrative expenses 2,220,477 2,425,486
340,671 1,328,244

Other operating income 3 - 8,429
OPERATING PROFIT 5 340,671 1,336,673

Interest receivable and similar income - 35
340,671 1,336,708

Interest payable and similar expenses 6 17,520 17,618
PROFIT BEFORE TAXATION 323,151 1,319,090

Tax on profit 7 62,952 254,093
PROFIT FOR THE FINANCIAL YEAR 260,199 1,064,997

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Other Comprehensive Income
for the Year Ended 31 January 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 260,199 1,064,997


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

260,199

1,064,997

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 42,984 -
Tangible assets 10 139,654 137,880
182,638 137,880

CURRENT ASSETS
Stocks 11 6,000 6,000
Debtors 12 3,805,430 3,863,229
Cash at bank and in hand 693,555 1,772,403
4,504,985 5,641,632
CREDITORS
Amounts falling due within one year 13 2,524,100 3,350,912
NET CURRENT ASSETS 1,980,885 2,290,720
TOTAL ASSETS LESS CURRENT LIABILITIES 2,163,523 2,428,600

CREDITORS
Amounts falling due after more than one
year

14

(136,232

)

(366,667

)

PROVISIONS FOR LIABILITIES 18 (33,977 ) (22,818 )
NET ASSETS 1,993,314 2,039,115

CAPITAL AND RESERVES
Called up share capital 19 255 255
Capital redemption reserve 20 510 510
Retained earnings 20 1,992,549 2,038,350
SHAREHOLDERS' FUNDS 1,993,314 2,039,115

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





J Moran - Director


JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Statement of Changes in Equity
for the Year Ended 31 January 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Balance at 1 February 2021 255 1,773,353 510 1,774,118

Changes in equity
Dividends - (800,000 ) - (800,000 )
Total comprehensive income - 1,064,997 - 1,064,997
Balance at 31 January 2022 255 2,038,350 510 2,039,115

Changes in equity
Dividends - (306,000 ) - (306,000 )
Total comprehensive income - 260,199 - 260,199
Balance at 31 January 2023 255 1,992,549 510 1,993,314

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

JPR Mechanical and Electrical Services 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, and therefore the financial statements have been prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirement of paragraph 33.7.

The company has taken advantage of the exemption under paragraph 1.12(b) from preparing a statement of cash flows, on the basis that it is a qualifying entity and its ultimate parent company, JPR Group Holdings Limited includes the company's cash flows in its consolidated financial statements.

Preparation of consolidated financial statements
The financial statements contain information about JPR Mechanical and Electrical Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, JPR Group Holdings Limited, North Street, Stoke On Trent, Staffordshire, ST4 7SA.

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
The preparation of financial statements in conformity with generally accepted principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Some of these estimates and judgements are inherently uncertain and subject to change. The impact of any change in accounting estimates is reflected in the period in which the estimate is revised, if the revision only affects the period, or in the period of the revision and future periods if the revision affects both current and future periods. In this respect the directors believe that the critical accounting policies where judgements or estimations are necessarily applied are as follows.

Critical judgements in applying the company's accounting policies

There were no critical judgements made in applying the company's accounting policies.

Critical accounting estimates and assumptions

Valuation of revenue under construction contracts

Turnover is recognised on long term contracts as they progress. There is a level of estimation and judgement involved in determining the stage of completion of each contract.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimates of useful economic lives and residual value of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, of economic utilisation of the assets.

Impairment of debtors

Management perform ongoing reviews of the recoverability of debtor balances, An allowance for doubtful debts is maintained for potential credit losses based on management's assessment of the expected collectability of amounts receivable. The allowance for bad debts is reviewed periodically to assess the adequacy of the allowance

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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

The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Construction Contracts

Where the outcome of a construction contract can be estimated reliably, revenue costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is determined by carrying out surveys of the work performed.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on cost
Fixtures and fittings and equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Repairs, maintenance and minor inspection costs are expensed as incurred.

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


JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Operating lease commitments
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.

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, and cash and bank balances 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expires or are settled, or (b) substantially all risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3. OTHER OPERATING INCOME
2023 2022
£    £   
Government grants - 8,429

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 4,767,818 4,375,747
Social security costs 450,472 382,489
Other pension costs 140,367 182,102
5,358,657 4,940,338

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2023 2022

Operatives 86 86
Management 30 32
116 118

2023 2022
£    £   
Directors' remuneration 22,793 17,901
Directors' pension contributions to money purchase schemes 24,000 69,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Key Management Compensation

The company has taken advantage of the exemption under paragraph 1.12(e), from disclosing key management compensation, on the basis that it is a qualifying entity and its ultimate parent company JPR Group Holdings Limited, includes the company's key management compensation in its consolidated financial statements.

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 249,653 195,543
Other operating leases 38,759 30,000
Depreciation - owned assets 53,074 53,092
Profit on disposal of fixed assets (6,178 ) (806 )
Computer software amortisation 10,746 -
Auditors' remuneration 18,770 22,437
Bad debts - 99,780

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 17,520 13,288
Other interest - 4,330
17,520 17,618

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 51,793 257,063
Under/(over) accrued in prior year - 9
Total current tax 51,793 257,072

Deferred tax 11,159 (2,979 )
Tax on profit 62,952 254,093

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 323,151 1,319,090
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

61,399

250,627

Effects of:
Expenses not deductible for tax purposes 1,858 2,922
Capital allowances in excess of depreciation (11,464 ) -
Depreciation in excess of capital allowances - 3,514

Movement in deferred taxation provision 11,159 (2,979 )
Prior year amendments - 9
Total tax charge 62,952 254,093

8. DIVIDENDS
2023 2022
£    £   
C Ordinary shares of £1 each
Interim - 400,000
D Ordinary shares of £1 each
Interim 306,000 400,000
306,000 800,000

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 53,730
At 31 January 2023 53,730
AMORTISATION
Amortisation for year 10,746
At 31 January 2023 10,746
NET BOOK VALUE
At 31 January 2023 42,984

10. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and and Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 213,887 46,774 464,620 53,712 778,993
Additions 6,900 - 65,820 - 72,720
Disposals - - (55,001 ) - (55,001 )
At 31 January 2023 220,787 46,774 475,439 53,712 796,712
DEPRECIATION
At 1 February 2022 205,561 23,387 358,453 53,712 641,113
Charge for year 7,914 4,582 40,578 - 53,074
Eliminated on disposal - - (37,129 ) - (37,129 )
At 31 January 2023 213,475 27,969 361,902 53,712 657,058
NET BOOK VALUE
At 31 January 2023 7,312 18,805 113,537 - 139,654
At 31 January 2022 8,326 23,387 106,167 - 137,880

11. STOCKS
2023 2022
£    £   
Finished Goods 6,000 6,000

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,360,879 3,429,682
Other debtors 81,987 33,873
Prepayments and accrued income 362,564 399,674
3,805,430 3,863,229

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 15) 204,348 100,000
Trade creditors 1,071,157 1,061,738
Amounts owed to group undertakings 275,499 478,621
Tax 51,793 257,063
Social security and other taxes 230,763 224,341
Other creditors 57,260 60,634
Accruals and deferred income 633,280 1,168,515
2,524,100 3,350,912

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 15) 136,232 366,667

15. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 204,348 100,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 136,232 100,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 266,667

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 71,423 87,825
Between one and five years - 10,923
71,423 98,748

17. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 340,580 466,667

The bank loan is secured by a fixed and floating charge over the assets of the company and its parent JPR Group Holdings Limited.

Interest is charged at Base Rate Plus 2.79% and is repayable over a 60 month period.

In addition 80% of the outstanding balance is backed by a government guarantee to the company's bankers.

18. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 34,701 23,630
Other timing differences (724 ) (812 )
33,977 22,818

Deferred
tax
£   
Balance at 1 February 2022 22,818
Charge to Profit and Loss Account during year 11,159
Balance at 31 January 2023 33,977

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
102 D Ordinary £1 102 102

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
153 C Ordinary £1 153 153

The Ordinary C & D shares have full rights in the company with regards to voting, dividend and capital distribution.

A dividend may be paid to each class of share to the exclusion of any other class.

20. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 February 2022 2,038,350 510 2,038,860
Profit for the year 260,199 260,199
Dividends (306,000 ) (306,000 )
At 31 January 2023 1,992,549 510 1,993,059

21. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge in respect of contributions to the fund and amounts to £138,913 (2022 - £177,323). Included within these totals are amounts that are unpaid at the year end date of £3,809 (2022- £9,037).

22. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company operates from a building owned by the pension scheme of the directors.

The rent paid for the year ended 31 January 2023 was £38,759 (2022 - £30,000).

JPR Mechanical and Electrical Services
Limited (Registered number: 01087200)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

23. ULTIMATE CONTROLLING PARTY

The Company's immediate and ultimate parent company and ultimate controlling party is JPR Group Holdings Limited, a company registered in England and Wales. This company is controlled by John Moran by virtue of his majority shareholding in the ultimate parent company.

Copies of the consolidated financial statements of JPR Group Holdings Limited are available from North Street, Stoke On Trent Staffordshire ST4 7SA.