Registered number
03584556
J.B. Aerial Services Limited
Unaudited Filleted Accounts
For the Year Ended
30 June 2023
J.B. Aerial Services Limited
Registered number: 03584556
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 500 1,000
Tangible assets 4 50,570 52,807
Investments 5 20,360 20,360
71,430 74,167
Current assets
Stocks 23,401 18,069
Debtors 6 11,005 13,541
Cash at bank and in hand 111,209 108,488
145,615 140,098
Creditors: amounts falling due within one year 7 (13,606) (18,314)
Net current assets 132,009 121,784
Total assets less current liabilities 203,439 195,951
Provisions for liabilities (8,046) (8,471)
Net assets 195,393 187,480
Capital and reserves
Called up share capital 132 132
Profit and loss account 195,261 187,348
Shareholders' funds 195,393 187,480
The directors are 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 directors acknowledge their 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.
A J Brass
Director
Approved by the board on 8 November 2023
J.B. Aerial Services Limited
Notes to the Accounts
for the year ended 30 June 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Buildings Not depreciated
Plant and machinery 10% reducing balance
Computer equipment over 3 years
Motor vehicles 25% reducing balance
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 10,000
At 30 June 2023 10,000
Amortisation
At 1 July 2022 9,000
Provided during the year 500
At 30 June 2023 9,500
Net book value
At 30 June 2023 500
At 30 June 2022 1,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 8,225 81,997 75,340 165,562
Additions - 6,301 - 6,301
At 30 June 2023 8,225 88,298 75,340 171,863
Depreciation
At 1 July 2022 - 51,120 61,635 112,755
Charge for the year - 5,111 3,427 8,538
At 30 June 2023 - 56,231 65,062 121,293
Net book value
At 30 June 2023 8,225 32,067 10,278 50,570
At 30 June 2022 8,225 30,877 13,705 52,807
5 Investments
Other
investments
£
Cost
At 1 July 2022 20,360
At 30 June 2023 20,360
6 Debtors 2023 2022
£ £
Trade debtors 8,045 10,444
Other debtors 2,960 3,097
11,005 13,541
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,810 5,020
Corporation tax 5,704 5,793
Other taxes and social security costs 1,870 5,496
Other creditors 2,222 2,005
13,606 18,314
8 Other information
J.B. Aerial Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 39b
Holme Mills Industrial Estate
Carnforth
Lancashire
LA6 1RD
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