Registration number:
J.B. Communications Limited
for the Year Ended 30 September 2023
J.B. Communications Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
J.B. Communications Limited
Company Information
Directors |
A J Orr R Mansell K Collins |
Company secretary |
R Mansell |
Registered office |
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Accountants |
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J.B. Communications Limited
(Registration number: 00974356)
Statement of Financial Position as at 30 September 2023
Note |
2023 |
2022 |
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Non-current assets |
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Property, plant and equipment |
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Investments |
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Current assets |
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Inventories |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Payables: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Equity |
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Called up share capital |
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Share premium reserve |
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Retained earnings |
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Total equity |
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For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and in accordance with the provisions of FRS 102 Section 1A - small entities.
J.B. Communications Limited
(Registration number: 00974356)
Statement of Financial Position as at 30 September 2023 (continued)
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 Income statement.
The financial statements of J.B. Communications Limited were approved and authorised for issue by the
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Director
J.B. Communications Limited
Notes to the Financial Statements
for the Year Ended 30 September 2023
General information |
J.B. Communications Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
Accounting policies |
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.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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 functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Judgements and key sources of estimation uncertainties
There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.
J.B. Communications Limited
Notes to the Financial Statements
for the Year Ended 30 September 2023 (continued)
2 |
Accounting policies (continued) |
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities and is net of Value Added Tax.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognise as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable to be recovered.
Taxation
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.
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.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
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 |
20% per annum on net book value |
Fixtures, fittings & equipment |
20% per annum on net book value |
Motor vehicles |
25% per annum on net book value |
J.B. Communications Limited
Notes to the Financial Statements
for the Year Ended 30 September 2023 (continued)
2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank on hand and call deposits.
Receivables
Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Payables
Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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.
Financial instruments
J.B. Communications Limited
Notes to the Financial Statements
for the Year Ended 30 September 2023 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Property, plant and equipment |
Land and buildings |
Plant and machinery |
Total |
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Cost |
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At 1 October 2022 |
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Additions |
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At 30 September 2023 |
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Depreciation |
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At 1 October 2022 |
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Charge for the year |
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At 30 September 2023 |
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Carrying amount |
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At 30 September 2023 |
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At 30 September 2022 |
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Fixed asset investments |
2023 |
2022 |
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Other investments other than loans |
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Inventories |
2023 |
2022 |
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Work in progress |
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J.B. Communications Limited
Notes to the Financial Statements
for the Year Ended 30 September 2023 (continued)
Receivables |
2023 |
2022 |
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Trade receivables |
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Other receivables |
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Prepayments and accrued income |
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Cash and cash equivalents |
2023 |
2022 |
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Cash at bank |
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Payables |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade payable |
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Social security and other taxes |
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Corporation tax |
66,800 |
47,091 |
Other payables |
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Accruals and deferred income |
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Due after one year |
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Loans and borrowings |
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The company took on loan under the Coronavirus Business Interruption Loan Scheme in the year ended 30 September 2020. The term of the loan is 6 years with no interest payable on the first 12 months. An interest of 3.10% over of the base rate will be charged thereafter.
The scheme provides the bank with a government-backed guarantee against the outstanding facility balance.
J.B. Communications Limited
Notes to the Financial Statements
for the Year Ended 30 September 2023 (continued)
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2,500 |
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2,500 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Parent undertaking |
The company's immediate parent is
These financial statements are available upon request from Salatin House, 19 Cedar Road, Sutton, Surrey SM2 5DA