IRIS Accounts Production v23.4.0.336 02459641 Board of Directors 1.2.23 31.1.24 31.1.24 1.4.24 0 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024596412023-01-31024596412024-01-31024596412023-02-012024-01-31024596412022-01-31024596412022-02-012023-01-31024596412023-01-3102459641ns15:EnglandWales2023-02-012024-01-3102459641ns14:PoundSterling2023-02-012024-01-3102459641ns10:Director12023-02-012024-01-3102459641ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3102459641ns10:SmallEntities2023-02-012024-01-3102459641ns10:Audited2023-02-012024-01-3102459641ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3102459641ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3102459641ns10:FullAccounts2023-02-012024-01-3102459641ns10:Director22023-02-012024-01-3102459641ns10:Director32023-02-012024-01-3102459641ns10:RegisteredOffice2023-02-012024-01-3102459641ns5:CurrentFinancialInstruments2024-01-3102459641ns5:CurrentFinancialInstruments2023-01-3102459641ns5:ShareCapital2024-01-3102459641ns5:ShareCapital2023-01-3102459641ns5:RetainedEarningsAccumulatedLosses2024-01-3102459641ns5:RetainedEarningsAccumulatedLosses2023-01-31
REGISTERED NUMBER: 02459641 (England and Wales)











J.I.B. LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2024






J.I.B. LIMITED (REGISTERED NUMBER: 02459641)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


J.I.B. LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: J Parmar
A C Eldred
J Poulter





REGISTERED OFFICE: Unit 2
White Oak Square
London Road
Swanley
Kent
BR8 7AG





REGISTERED NUMBER: 02459641 (England and Wales)





AUDITORS: Berringers LLP
Chartered Accountants
and Statutory Auditors
Lygon House
50 London Road
Bromley
Kent
BR1 3RA

J.I.B. LIMITED (REGISTERED NUMBER: 02459641)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 2 2

CREDITORS
Amounts falling due within one year 5 290 277
NET CURRENT LIABILITIES (288 ) (275 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(288

)

(275

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (290 ) (277 )
SHAREHOLDERS' FUNDS (288 ) (275 )

The 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2024 and were signed on its behalf by:





J Parmar - Director


J.I.B. LIMITED (REGISTERED NUMBER: 02459641)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

J.I.B. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenditures during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management do not consider that there is a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Debtors
Short term debtors are measures at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

J.I.B. LIMITED (REGISTERED NUMBER: 02459641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2 2

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 290 277

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Paul Allan BSocSc FCA (Senior Statutory Auditor)
for and on behalf of Berringers LLP

7. CORPORATE TRUSTEE

JIB Ltd acts as a corporate trustee for the Joint Industry Board for the Electrical Contracting Industry, as agreed at the April 2022 National Board Meeting. At the year end, the Joint Industry Board for the Electrical Contracting Industry included in its financial statements, cash at bank (£7,175,416) held in trust by JIB Ltd.

During the year, the Joint Industry Board for the Electrical Contracting Industry paid professional fees of £300 on behalf of JIB Ltd, and these are included in the financial statements of the Joint Industry Board.