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Registration number: 05836833

JPC Electrical Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

JPC Electrical Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

JPC Electrical Services Limited

Company Information

Directors

Mr J Critchley

Mr I Winstanley

Registered office

33 Crossgill
Astley
Manchester
M29 7DT

Accountants

EKWilliams Accountants Ltd
1 Pavilion Square
Cricketers Way
Westhoughton
Bolton
BL5 3AJ

 

JPC Electrical Services Limited

(Registration number: 05836833)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

33,998

50,782

Other financial assets

5

84,575

84,575

 

118,573

135,357

Current assets

 

Stocks

6

2,000

700

Debtors

7

278,683

356,560

Cash at bank and in hand

 

43,050

113,179

 

323,733

470,439

Creditors: Amounts falling due within one year

8

(51,265)

(115,067)

Net current assets

 

272,468

355,372

Total assets less current liabilities

 

391,041

490,729

Creditors: Amounts falling due after more than one year

8

(8,186)

(28,641)

Provisions for liabilities

(8,500)

(12,696)

Net assets

 

374,355

449,392

Capital and reserves

 

Called up share capital

101

101

Profit and loss account

374,254

449,291

Total equity

 

374,355

449,392

 

JPC Electrical Services Limited

(Registration number: 05836833)
Balance Sheet as at 31 May 2023

For the financial year ending 31 May 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2024 and signed on its behalf by:
 

.........................................
Mr J Critchley
Director

.........................................
Mr I Winstanley
Director

 

JPC Electrical Services Limited

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

1

General information

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

The address of its registered office is:
33 Crossgill
Astley
Manchester
M29 7DT

These financial statements were authorised for issue by the Board on 19 February 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.

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.

Tax

The tax expense for the period comprises current and deferred 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 or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

JPC Electrical Services Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Asset class

Depreciation method and rate

Plant and machinery

15% straight line

Motor vehicles

25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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. 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 directors) during the year, was 6 (2022 - 6).

 

JPC Electrical Services Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

1,598

66,492

68,090

At 31 May 2023

1,598

66,492

68,090

Depreciation

At 1 June 2022

685

16,623

17,308

Charge for the year

161

16,623

16,784

At 31 May 2023

846

33,246

34,092

Carrying amount

At 31 May 2023

752

33,246

33,998

At 31 May 2022

913

49,869

50,782

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2022

84,575

84,575

At 31 May 2023

84,575

84,575

Impairment

Carrying amount

At 31 May 2023

84,575

84,575

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

2,000

700

 

JPC Electrical Services Limited

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

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

258,054

166,254

Amounts owed by related parties

9

-

49,578

Prepayments

 

4,493

4,609

Other debtors

 

16,136

136,119

   

278,683

356,560

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

19,974

20,700

Taxation and social security

 

20,701

92,215

Accruals and deferred income

 

1,400

1,250

Other creditors

 

9,190

902

 

51,265

115,067

HP liabailities are secured against the assets they financed.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8,186

28,641

 

JPC Electrical Services Limited

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

9

Related party transactions

Transactions with directors

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Mr I Winstanley

(12,904)

24,000

(15,146)

(4,051)

         
       

Mr J Critchley

146,898

84,270

(235,414)

(4,246)

         
       

 

2022

At 1 June 2021
£

Advances to director
£

Repayments by director
£

At 31 May 2022
£

Mr I Winstanley

(8,451)

24,480

(28,934)

(12,904)

         
       

Mr J Critchley

(103,246)

424,306

(174,162)

146,898