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Company Registration No. 08651914 (England and Wales)
JP IT Solutions Ltd Unaudited accounts for the year ended 31 December 2023
JP IT Solutions Ltd Unaudited accounts Contents
Page
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JP IT Solutions Ltd Company Information for the year ended 31 December 2023
Director
Jason Parrington
Company Number
08651914 (England and Wales)
Registered Office
ELCOT PARK ELCOT LANE MARLBOROUGH SN8 2BG ENGLAND
Accountants
Asset Accounting (Swindon) Ltd Second Floor 11-12 Market Place Faringdon Oxfordshire SN7 7HP
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JP IT Solutions Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
27,442 
28,564 
Current assets
Inventories
15,000 
10,000 
Debtors
12,000 
16,462 
Cash at bank and in hand
205,530 
136,808 
232,530 
163,270 
Creditors: amounts falling due within one year
(93,113)
(35,357)
Net current assets
139,417 
127,913 
Net assets
166,859 
156,477 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
166,759 
156,377 
Shareholders' funds
166,859 
156,477 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 April 2024 and were signed on its behalf by
Jason Parrington Director Company Registration No. 08651914
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JP IT Solutions Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
JP IT Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 08651914. The registered office is ELCOT PARK, ELCOT LANE, MARLBOROUGH, SN8 2BG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% RB
Computer equipment
33% SL
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Taxation
The Tax expense for the period comprises of 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted by the reporting date in the countries where the company operates and generates taxable income.
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JP IT Solutions Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
18,896 
23,891 
42,787 
Additions
18,333 
3,899 
22,232 
Disposals
(18,896)
- 
(18,896)
At 31 December 2023
18,333 
27,790 
46,123 
Depreciation
At 1 January 2023
3,149 
11,074 
14,223 
Charge for the year
3,016 
6,691 
9,707 
On disposals
(5,249)
- 
(5,249)
At 31 December 2023
916 
17,765 
18,681 
Net book value
At 31 December 2023
17,417 
10,025 
27,442 
At 31 December 2022
15,747 
12,817 
28,564 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
15,000 
10,000 
15,000 
10,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
37,100 
34,939 
Accrued income and prepayments
(25,300)
(22,000)
Other debtors
200 
3,523 
12,000 
16,462 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
19,616 
12,994 
Trade creditors
22,514 
35,568 
Taxes and social security
29,932 
19,109 
Other creditors
20,500 
- 
Loans from directors
1 
(32,794)
Accruals
550 
480 
93,113 
35,357 
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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