J.P. Technology Limited 02893260 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of a dealer and consultant in industrial and farm machinery, industrial materials, industrial plant and steel works, and petroleum products. Digita Accounts Production Advanced 6.30.9574.0 true true 02893260 2022-08-01 2023-07-31 02893260 2023-07-31 02893260 bus:OrdinaryShareClass1 2023-07-31 02893260 core:CurrentFinancialInstruments 2023-07-31 02893260 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 02893260 core:FurnitureFittings 2023-07-31 02893260 core:OfficeEquipment 2023-07-31 02893260 bus:SmallEntities 2022-08-01 2023-07-31 02893260 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 02893260 bus:FullAccounts 2022-08-01 2023-07-31 02893260 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 02893260 bus:RegisteredOffice 2022-08-01 2023-07-31 02893260 bus:Director2 2022-08-01 2023-07-31 02893260 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 02893260 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 02893260 core:FurnitureFittings 2022-08-01 2023-07-31 02893260 countries:EnglandWales 2022-08-01 2023-07-31 02893260 2022-07-31 02893260 core:FurnitureFittings 2022-07-31 02893260 core:OfficeEquipment 2022-07-31 02893260 2021-08-01 2022-07-31 02893260 2022-07-31 02893260 bus:OrdinaryShareClass1 2022-07-31 02893260 core:CurrentFinancialInstruments 2022-07-31 02893260 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 02893260 core:FurnitureFittings 2022-07-31 02893260 core:OfficeEquipment 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02893260

J.P. Technology Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

J.P. Technology Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

J.P. Technology Limited

(Registration number: 02893260)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2

2

Current assets

 

Debtors

5

397

17,517

Cash at bank and in hand

 

6,751

5,969

 

7,148

23,486

Creditors: Amounts falling due within one year

6

(307,061)

(295,575)

Net current liabilities

 

(299,913)

(272,089)

Net liabilities

 

(299,911)

(272,087)

Capital and reserves

 

Called up share capital

7

701

701

Profit and loss account

(300,612)

(272,788)

Shareholders' deficit

 

(299,911)

(272,087)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 April 2024
 

.........................................
J B Patel
Director

 

J.P. Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
Lawford House
Albert Place
London
N3 1QA
England

These financial statements were authorised for issue by the director on 22 April 2024.

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.

The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

J.P. Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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:

Asset class

Depreciation method and rate

Fixture and fittings

50% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

J.P. Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

3,089

12,834

15,923

At 31 July 2023

3,089

12,834

15,923

Depreciation

At 1 August 2022

3,088

12,833

15,921

At 31 July 2023

3,088

12,833

15,921

Carrying amount

At 31 July 2023

1

1

2

At 31 July 2022

1

1

2

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

17,517

Other debtors

397

-

 

397

17,517

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

235

3,686

Accruals and deferred income

950

950

Other creditors

305,876

290,939

307,061

295,575

 

J.P. Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

701

701

701

701

         

8

Related party transactions

At the year end, company owed £300,765 (2022: £287,319) to the director of the company. The loan is provided interest free and unsecured. There are no formal terms and conditions regarding repayment of the loan.