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Registered Number: 08446463
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2023

for

JTEC FABRICATIONS LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 36,649    49,793 
36,649    49,793 
Current assets      
Stocks 4 82,000   
Debtors 5 152,987    53,355 
Cash at bank and in hand 4,509    7,766 
239,496    61,121 
Creditors: amount falling due within one year 6 (262,284)   (4,436)
Net current liabilities (22,788)   56,685 
 
Total assets less current liabilities 13,861    106,478 
Creditors: amount falling due after more than one year 7 (46,448)   (49,154)
Provisions for liabilities 8 (9,162)   (10,835)
Net liabilities (41,749)   46,489 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (41,849)   46,389 
Shareholder's funds (41,749)   46,489 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 26 March 2024 and were signed by:


-------------------------------
Andrew Jay
Director
1
General Information
JTEC Fabrications Ltd is a private company, limited by shares, registered in England and Wales, registration number 08446463, registration address 9 Chalk Hill House, 19 Rosary Road, Norwich, Norfolk, NR1 1SZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 April 2022 136,749    26,520    15,368    178,637 
Additions      
Disposals      
At 31 March 2023 136,749    26,520    15,368    178,637 
Depreciation
At 01 April 2022 93,550    20,977    14,317    128,844 
Charge for year 10,800    1,385    959    13,144 
On disposals      
At 31 March 2023 104,350    22,362    15,276    141,988 
Net book values
Closing balance as at 31 March 2023 32,399    4,158    92    36,649 
Opening balance as at 01 April 2022 43,199    5,543    1,051    49,793 


4.

Stocks

2023
£
  2022
£
Stocks 82,000   
82,000   

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 120,632   
Other Debtors 32,355    53,355 
152,987    53,355 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 25,227    488 
PAYE & Social Security   3,345 
Other Creditors   200 
Directors' Current Accounts 236,090   
VAT 967    403 
262,284    4,436 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 46,448    49,154 
46,448    49,154 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 10,835    10,835 
Charged to Profit & Loss (1,673)  
9,162    10,835 

2