Registered number
09582516
JB Locations Ltd
Unaudited Filleted Accounts
31 May 2023
JB Locations Ltd
Registered number: 09582516
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 449,654 526,324
Current assets
Debtors 4 121,304 107,647
Cash at bank and in hand 183,521 179,023
304,825 286,670
Creditors: amounts falling due within one year 5 (153,433) (236,011)
Net current assets 151,392 50,659
Total assets less current liabilities 601,046 576,983
Creditors: amounts falling due after more than one year 6 - (487)
Provisions for liabilities (85,435) (100,001)
Net assets 515,611 476,495
Capital and reserves
Called up share capital 2 2
Profit and loss account 515,609 476,493
Shareholder's funds 515,611 476,495
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 member has 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.
J S Hills
Director
Approved by the board on 22 August 2023
JB Locations Ltd
Notes to the Accounts
for the year ended 31 May 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:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 33% straight line
Motor vehicles 20% straight-line (or over the life of the hire purchase/finance lease agreement)
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 1,052,305 265,800 1,318,105
Additions 89,899 - 89,899
At 31 May 2023 1,142,204 265,800 1,408,004
Depreciation
At 1 June 2022 703,509 88,272 791,781
Charge for the year 113,929 52,640 166,569
At 31 May 2023 817,438 140,912 958,350
Net book value
At 31 May 2023 324,766 124,888 449,654
At 31 May 2022 348,796 177,528 526,324
4 Debtors 2023 2022
£ £
Trade debtors 121,304 90,748
Other debtors - 16,899
121,304 107,647
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 1,965 5,953
Trade creditors 7,489 165,940
Taxation and social security costs 92,843 54,587
Other creditors 51,136 9,531
153,433 236,011
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 487
7 Contingent liabilities
Ben Patton holds a fixed and floating charge over the company's assets. This charge becomes enforceable if Hilltex Limited does not redeem loan notes due to Mr Patton. Hilltex Limited is currently repaying the loan notes as they fall due and it is anticipated that this will remain the case.
8 Controlling party
The company is controlled by Hilltex Limited (a company registered in England & Wales number 12488727). Its registered office address is c/o Accountancy Edge Limited, 12 Culm Close, Bideford, Devon, EX39 4AX.
9 Other information
JB Locations Ltd is a private company limited by shares and incorporated in England. Its registered office is:
c/o Accountancy Edge Limited
12 Culm Close
Bideford
Devon
EX39 4AX
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