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Registration number: 06408374

JB Inspections Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

JB Inspections Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

JB Inspections Ltd

Company Information

Directors

Captain J W Bussell

Mrs H J Bussell

Company secretary

Mrs H J Bussell

Registered office

Suite 26
Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

Accountants

Houndiscombe Consultants Limited
Chartered Accountants
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
JB Inspections Ltd
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JB Inspections Ltd for the year ended 30 June 2023 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of JB Inspections Ltd, as a body, in accordance with the terms of our engagement letter dated 15 January 2010. Our work has been undertaken solely to prepare for your approval the accounts of JB Inspections Ltd and state those matters that we have agreed to state to the Board of Directors of JB Inspections Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JB Inspections Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JB Inspections Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JB Inspections Ltd. You consider that JB Inspections Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of JB Inspections Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
Chartered Accountants
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

12 March 2024

 

JB Inspections Ltd

(Registration number: 06408374)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,039

506

Current assets

 

Debtors

5

107,459

84,235

Cash at bank and in hand

 

938

19,409

 

108,397

103,644

Creditors: Amounts falling due within one year

6

(21,515)

(21,298)

Net current assets

 

86,882

82,346

Net assets

 

87,921

82,852

Capital and reserves

 

Called up share capital

100

100

Retained earnings

87,821

82,752

Shareholders' funds

 

87,921

82,852

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 March 2024 and signed on its behalf by:
 

.........................................

Captain J W Bussell

Director

 

JB Inspections Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 26
Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received for the provision of ship and boat inspection services in the ordinary course of the company’s activities. The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

JB Inspections Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Office equipment

25% reducing balance basis

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Office equipment
£

Plant and equipment
£

Total
£

Cost or valuation

At 1 July 2022

1,264

827

2,091

Additions

753

-

753

At 30 June 2023

2,017

827

2,844

Depreciation

At 1 July 2022

889

696

1,585

Charge for the year

188

32

220

At 30 June 2023

1,077

728

1,805

Carrying amount

At 30 June 2023

940

99

1,039

At 30 June 2022

375

131

506

 

JB Inspections Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

5

Debtors

2023
£

2022
£

Trade debtors

20,133

9,833

Prepayments

1,050

1,050

Other debtors

86,276

73,352

107,459

84,235

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

378

Taxation and social security

19,211

18,429

Accruals and deferred income

2,304

2,491

21,515

21,298

7

Related party transactions

Other transactions with directors

During the year the company made an advances of £84,235 (2022: £89,411 ). £73,000 of thiis was repaid during the year and the amount owed to the company at the year end was £86,276 (2022: £72,946). Interest was charged at HMRC official rate on any overdrawn balance. This loan is repayable on demand.