0 false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 257,285 257,285 257,285 xbrli:pure xbrli:shares iso4217:GBP SC272621 2022-05-01 2023-04-30 SC272621 2023-04-30 SC272621 2022-04-30 SC272621 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC272621 bus:Director1 2022-05-01 2023-04-30 SC272621 core:WithinOneYear 2023-04-30 SC272621 core:WithinOneYear 2022-04-30 SC272621 core:ShareCapital 2023-04-30 SC272621 core:ShareCapital 2022-04-30 SC272621 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC272621 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC272621 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 SC272621 core:Non-currentFinancialInstruments 2023-04-30 SC272621 core:Non-currentFinancialInstruments 2022-04-30 SC272621 bus:SmallEntities 2022-05-01 2023-04-30 SC272621 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC272621 bus:FullAccounts 2022-05-01 2023-04-30 SC272621 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 SC272621 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC272621 bus:OrdinaryShareClass1 2023-04-30 SC272621 bus:OrdinaryShareClass1 2022-04-30
COMPANY REGISTRATION NUMBER: SC272621
JR POWER MOTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2023
JR POWER MOTION LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
2
JR POWER MOTION LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Investments
4
257,285
257,285
CURRENT ASSETS
Cash at bank and in hand
10
10
CREDITORS: amounts falling due within one year
5
174,262
174,262
---------
---------
NET CURRENT LIABILITIES
174,252
174,252
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
83,033
83,033
--------
--------
CAPITAL AND RESERVES
Called up share capital
6
20,000
20,000
Profit and loss account
7
63,033
63,033
--------
--------
SHAREHOLDERS FUNDS
83,033
83,033
--------
--------
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 February 2024 , and are signed on behalf of the board by:
Mr M Butler
Director
Company registration number: SC272621
JR POWER MOTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 9 Faraday Street, Dryburgh Industrial Estate, Dundee, DD2 3QQ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity
Going concern
The Board of Directors confirms that, after making appropriate enquiries, and taking into account the current economic and financial uncertainty arising from current economic conditions, that it has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company's major creditor is its subsidiary undertaking. The subsidiary has agreed that the company can defer payment of the amount due to the subsidiary until the company is in the position to satisfy this debt. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this deferral arrangement.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. INVESTMENTS
Shares in group undertakings
£
Cost
At 1 May 2022 and 30 April 2023
257,285
---------
Impairment
At 1 May 2022 and 30 April 2023
---------
Carrying amount
At 30 April 2023
257,285
---------
At 30 April 2022
257,285
---------
The company owns 100% of the issued share capital of JR Power Transmission Scotland Limited, which is registered in Scotland. The aggregate amount of capital and reserves and the results of the subsidiary undertaking for the last relevant financial year were as follows:
Aggregate capital and reserves at 30 April 2023 - £158,629 (30 April 2022 - £101,686)
Profit for the year to 30 April 2023 - £64,943 (30 April 2022 - £57,380)
5. CREDITORS: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
165,412
140,925
Other creditors
8,850
33,337
---------
---------
174,262
174,262
---------
---------
6. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
20,000
20,000
20,000
20,000
--------
--------
--------
--------
7. RESERVES
Profit and loss account - This reserve records retained earnings and accumulated losses.
8. RELATED PARTY TRANSACTIONS
The company was under the control of its directors throughout the current and previous year. Included in Creditors above is the amount of £165,412 (2022 - £140,925) due to the company's subsidiary undertaking, JR Power Transmission Scotland Limited. The company was in receipt of dividends from its subsidiary, and the subsidiary made a number of payments on behalf of the company. During the year, the company paid dividends of £4,000 (2022 - £30,000) to K Malone and £4,000 (2022 - £4,000) to M Butler, both directors of the company. Included in Other creditors are amounts of £645 (2022 - £645) due to K Malone and £8,205 (2022 - £32,692) due to M Butler.