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COMPANY REGISTRATION NUMBER: 01130294
J.B.C. Crawley Industrial Services Limited
Filleted Unaudited Financial Statements
31 December 2023
J.B.C. Crawley Industrial Services Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
98,602
115,956
Current assets
Debtors
6
185,562
359,451
Cash at bank and in hand
238,183
150,457
----------
----------
423,745
509,908
Creditors: amounts falling due within one year
7
( 140,836)
( 216,192)
----------
----------
Net current assets
282,909
293,716
----------
----------
Total assets less current liabilities
381,511
409,672
Provisions
Taxation including deferred tax
( 22,289)
( 18,572)
----------
----------
Net assets
359,222
391,100
----------
----------
J.B.C. Crawley Industrial Services Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
359,122
391,000
----------
----------
Shareholders funds
359,222
391,100
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:
Mr B.J. Leppenwell
Mr C.E. Leppenwell
Director
Director
Company registration number: 01130294
J.B.C. Crawley Industrial Services Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kingfisher House, Hurstwood Grange, Hurstwood Lane, Haywards Heath, West Sussex, RH17 7QX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
(d) Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity,respectively .
(e) Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
evenly over lease term
Fixtures & Fittings
-
10 years
Motor Vehicles
-
10 years
Computer Equipment
-
5 years
(h) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
(i) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(j) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(k) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(l) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 10 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023
750
87,641
264,154
2,452
354,997
Additions
5,563
1,056
6,619
Disposals
( 28,964)
( 20,995)
( 49,959)
----
--------
----------
-------
----------
At 31 December 2023
750
64,240
243,159
3,508
311,657
----
--------
----------
-------
----------
Depreciation
At 1 January 2023
750
87,254
149,205
1,832
239,041
Charge for the year
840
20,900
487
22,227
Disposals
( 28,964)
( 19,249)
( 48,213)
----
--------
----------
-------
----------
At 31 December 2023
750
59,130
150,856
2,319
213,055
----
--------
----------
-------
----------
Carrying amount
At 31 December 2023
5,110
92,303
1,189
98,602
----
--------
----------
-------
----------
At 31 December 2022
387
114,949
620
115,956
----
--------
----------
-------
----------
6. Debtors
2023
2022
£
£
Trade debtors
146,604
322,296
Other debtors
38,958
37,155
----------
----------
185,562
359,451
----------
----------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
50,024
90,077
Corporation tax
17,046
10,350
Social security and other taxes
33,236
60,407
Other creditors
40,530
55,358
----------
----------
140,836
216,192
----------
----------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
1,545
Later than 1 year and not later than 5 years
15,795
-------
--------
1,545
15,795
-------
--------
9. Directors' advances, credits and guarantees
There were no transactions with related parties that require disclosure under FRS102.
10. Related party transactions
The company is under the ultimate control of the two directors by virtue of each having one half of the total issued ordinary shares in the company.