Registered number
10647570
JS Electric Installations Ltd
Filleted Accounts
31 March 2023
JS Electric Installations Ltd
Registered number: 10647570
Balance Sheet
as at 31 March 2023
Notes 2023
£
Fixed assets
Tangible assets 3 49,157
Current assets
CIS 56,338
Debtors 4 17,351
Cash at bank and in hand 83,264
156,953
Creditors: amounts falling due within one year 5 (62,965)
Net current assets 93,988
Total assets less current liabilities 143,145
Creditors: amounts falling due after more than one year 6 (35,000)
Net assets 108,145
Capital and reserves
Share premium 100
Profit and loss account 108,045
Shareholders' funds 108,145
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.
Joe Scoles
Director
Approved by the board on 22 November 2023
JS Electric Installations Ltd
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.
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.
2 Employees 2023
Number
Average number of persons employed by the company 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 5,698 - 5,698
Additions - 61,719 61,719
At 31 March 2023 5,698 61,719 67,417
Depreciation
Charge for the year 2,830 15,430 18,260
At 31 March 2023 2,830 15,430 18,260
Net book value
At 31 March 2023 2,868 46,289 49,157
At 31 March 2022 5,698 - 5,698
4 Debtors 2023
£
Trade debtors 17,351
5 Creditors: amounts falling due within one year 2023
£
Bank loans and overdrafts 2,073
Trade creditors 52,531
Taxation and social security costs (17,196)
Other creditors 25,557
62,965
6 Creditors: amounts falling due after one year 2023
£
Bank loans 35,000
7 Other information
JS Electric Installations Ltd is a private company limited by shares and incorporated in England. Its registered office is:
29 Cuckfield Crescent
Worthing
BN13 2ED
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