Registered number
SC160998
JCS Express Limited
Filleted Accounts
30 September 2022
JCS Express Limited
Registered number: SC160998
Balance Sheet
as at 30 September 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 542,354 633,226
Current assets
Debtors 4 690,257 657,379
Cash at bank and in hand - 1,336
690,257 658,715
Creditors: amounts falling due within one year 5 (816,020) (655,575)
Net current (liabilities)/assets (125,763) 3,140
Total assets less current liabilities 416,591 636,366
Creditors: amounts falling due after more than one year 6 (389,962) (530,904)
Net assets 26,629 105,462
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 25,629 104,462
Shareholders' funds 26,629 105,462
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.
J Sims
Director
Approved by the board on 23 November 2023
JCS Express Limited
Notes to the Accounts
for the year ended 30 September 2022
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 25% reducing balance
Motor vehicles 20% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 37 35
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2021 180,984 79,721 1,628,004 1,888,709
Additions - - 41,004 41,004
Disposals - - (144,166) (144,166)
At 30 September 2022 180,984 79,721 1,524,842 1,785,547
Depreciation
At 1 October 2021 135,360 33,852 1,086,271 1,255,483
Charge for the year 8,433 3,389 103,077 114,899
On disposals - - (127,189) (127,189)
At 30 September 2022 143,793 37,241 1,062,159 1,243,193
Net book value
At 30 September 2022 37,191 42,480 462,683 542,354
At 30 September 2021 45,624 45,869 541,733 633,226
4 Debtors 2022 2021
£ £
Trade debtors 690,257 654,105
Other debtors - 3,274
690,257 657,379
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 417,689 265,222
Obligations under finance lease and hire purchase contracts 97,505 103,820
Trade creditors 138,439 214,650
Taxation and social security costs 162,387 71,637
Other creditors - 246
816,020 655,575
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 262,778 339,444
Obligations under finance lease and hire purchase contracts 127,184 191,460
389,962 530,904
7 Other information
JCS Express Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Flowerhill Street
Airdrie
ML6 6AP
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