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COMPANY REGISTRATION NUMBER: 06872192
JD Fire Services Ltd
Filleted Unaudited Financial Statements
30 April 2023
JD Fire Services Ltd
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
30,000
35,000
Tangible assets
6
131,242
140,626
---------
---------
161,242
175,626
Current assets
Debtors
7
109,242
44,777
Cash at bank and in hand
494,720
564,447
---------
---------
603,962
609,224
Creditors: amounts falling due within one year
8
30,926
55,224
---------
---------
Net current assets
573,036
554,000
---------
---------
Total assets less current liabilities
734,278
729,626
Creditors: amounts falling due after more than one year
9
52,914
62,934
---------
---------
Net assets
681,364
666,692
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
681,264
666,592
---------
---------
Shareholders funds
681,364
666,692
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JD Fire Services Ltd
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 16 November 2023 , and are signed on behalf of the board by:
Mr D J Lewis
Director
Company registration number: 06872192
JD Fire Services Ltd
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooks House, 1 Albion Place, Maidstone, Kent, ME14 5DY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
5% straight line
Plant & machinery
-
10% straight line
Motor Vehicles
-
20% straight line
Equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
100,000
---------
Amortisation
At 1 May 2022
65,000
Charge for the year
5,000
---------
At 30 April 2023
70,000
---------
Carrying amount
At 30 April 2023
30,000
---------
At 30 April 2022
35,000
---------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2022
103,000
344
113,709
16,584
233,637
Additions
38,493
1,003
39,496
Disposals
( 28,016)
( 28,016)
---------
----
---------
--------
---------
At 30 April 2023
103,000
344
124,186
17,587
245,117
---------
----
---------
--------
---------
Depreciation
At 1 May 2022
46,350
162
36,595
9,904
93,011
Charge for the year
5,150
21
24,837
1,129
31,137
Disposals
( 10,273)
( 10,273)
---------
----
---------
--------
---------
At 30 April 2023
51,500
183
51,159
11,033
113,875
---------
----
---------
--------
---------
Carrying amount
At 30 April 2023
51,500
161
73,027
6,554
131,242
---------
----
---------
--------
---------
At 30 April 2022
56,650
182
77,114
6,680
140,626
---------
----
---------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
103,549
39,929
Other debtors
5,693
4,848
---------
--------
109,242
44,777
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
15,622
32,624
Social security and other taxes
5,111
7,630
Other creditors
10,193
14,970
--------
--------
30,926
55,224
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
50,029
52,916
Other creditors
2,885
10,018
--------
--------
52,914
62,934
--------
--------