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Company Registration No. 11082819 (England and Wales)
Jacob's Van Upgrades Ltd Unaudited accounts for the year ended 30 November 2023
Jacob's Van Upgrades Ltd Unaudited accounts Contents
Page
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Jacob's Van Upgrades Ltd Company Information for the year ended 30 November 2023
Director
Paul Challenger
Company Number
11082819 (England and Wales)
Registered Office
Shed 4, Unit 8 The Park Farm Plough Road Pontypool NP4 0AL
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Jacob's Van Upgrades Ltd for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jacob's Van Upgrades Ltd for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Venta House Maes-glas Newport NP20 2NS 9 January 2024
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Jacob's Van Upgrades Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,385 
2,147 
Current assets
Inventories
40,000 
22,550 
Debtors
8,401 
- 
Cash at bank and in hand
6,051 
36,861 
54,452 
59,411 
Creditors: amounts falling due within one year
(5,951)
(11,630)
Net current assets
48,501 
47,781 
Total assets less current liabilities
49,886 
49,928 
Creditors: amounts falling due after more than one year
- 
(14,253)
Provisions for liabilities
Deferred tax
(53)
(152)
Net assets
49,833 
35,523 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
49,831 
35,521 
Shareholders' funds
49,833 
35,523 
For the year ending 30 November 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 9 January 2024 and were signed on its behalf by
Paul Challenger Director Company Registration No. 11082819
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Jacob's Van Upgrades Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Jacob's Van Upgrades Ltd is a private company, limited by shares, registered in England and Wales, registration number 11082819. The registered office is Shed 4, Unit 8 The Park Farm, Plough Road, Pontypool, NP4 0AL.
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
4 year straight line method
Fixtures & fittings
4 year straight line method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Jacob's Van Upgrades Ltd Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
2,000 
5,477 
7,477 
At 30 November 2023
2,000 
5,477 
7,477 
Depreciation
At 1 December 2022
750 
4,580 
5,330 
Charge for the year
500 
262 
762 
At 30 November 2023
1,250 
4,842 
6,092 
Net book value
At 30 November 2023
750 
635 
1,385 
At 30 November 2022
1,250 
897 
2,147 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
40,000 
22,550 
40,000 
22,550 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
8,401 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
4,851 
10,530 
Accruals
1,100 
1,100 
5,951 
11,630 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
- 
14,253 
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Jacob's Van Upgrades Ltd Notes to the Accounts for the year ended 30 November 2023
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
53 
152 
2023 
2022 
£ 
£ 
Provision at start of year
152 
4,556 
Credited to the profit and loss account
(99)
(4,404)
Provision at end of year
53 
152 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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