4 false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 8,000 6,400 800 7,200 800 1,600 xbrli:pure xbrli:shares iso4217:GBP 07568322 2022-11-01 2023-10-31 07568322 2023-10-31 07568322 2022-10-31 07568322 2021-11-01 2022-10-31 07568322 2022-10-31 07568322 core:NetGoodwill 2022-11-01 2023-10-31 07568322 core:FurnitureFittings 2022-11-01 2023-10-31 07568322 bus:Director1 2022-11-01 2023-10-31 07568322 core:NetGoodwill 2022-10-31 07568322 core:NetGoodwill 2023-10-31 07568322 core:FurnitureFittings 2022-10-31 07568322 core:FurnitureFittings 2023-10-31 07568322 core:WithinOneYear 2023-10-31 07568322 core:WithinOneYear 2022-10-31 07568322 core:ShareCapital 2023-10-31 07568322 core:ShareCapital 2022-10-31 07568322 core:RetainedEarningsAccumulatedLosses 2023-10-31 07568322 core:RetainedEarningsAccumulatedLosses 2022-10-31 07568322 core:NetGoodwill 2022-10-31 07568322 core:FurnitureFittings 2022-10-31 07568322 bus:Director1 2022-10-31 07568322 bus:Director1 2021-10-31 07568322 bus:SmallEntities 2022-11-01 2023-10-31 07568322 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07568322 bus:FullAccounts 2022-11-01 2023-10-31 07568322 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07568322 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07568322 core:ToolsEquipment 2022-11-01 2023-10-31 07568322 core:ToolsEquipment 2022-10-31 07568322 core:ToolsEquipment 2023-10-31
COMPANY REGISTRATION NUMBER: 07568322
JPTF Services Limited
Filleted Unaudited Financial Statements
31 October 2023
JPTF Services Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
800
1,600
Tangible assets
6
1,717
1,681
-------
-------
2,517
3,281
Current assets
Stocks
14,307
14,755
Debtors
7
28,085
22,367
Cash at bank and in hand
2
1,657
--------
--------
42,394
38,779
Creditors: amounts falling due within one year
8
66,605
64,454
--------
--------
Net current liabilities
24,211
25,675
--------
--------
Total assets less current liabilities
( 21,694)
( 22,394)
--------
--------
Net liabilities
( 21,694)
( 22,394)
--------
--------
Capital and reserves
Called up share capital
105
105
Profit and loss account
( 21,799)
( 22,499)
--------
--------
Shareholders deficit
( 21,694)
( 22,394)
--------
--------
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 October 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 .
JPTF Services Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mrs. J.P. Titterton-Fox
Director
Company registration number: 07568322
JPTF Services Limited
Notes to the Financial Statements
Year ended 31 October 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 6B Belgic Square, Peterborough, Cambridgeshire, PE1 5XF.
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
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.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill. 10% Straight line
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures & fittings. 20% reducing balance
-
20% reducing balance
Equipment. 20% reducing balance
-
20% reducing balance
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
8,000
-------
Amortisation
At 1 November 2022
6,400
Charge for the year
800
-------
At 31 October 2023
7,200
-------
Carrying amount
At 31 October 2023
800
-------
At 31 October 2022
1,600
-------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 November 2022
650
11,567
12,217
Additions
465
465
----
--------
--------
At 31 October 2023
650
12,032
12,682
----
--------
--------
Depreciation
At 1 November 2022
514
10,022
10,536
Charge for the year
27
402
429
----
--------
--------
At 31 October 2023
541
10,424
10,965
----
--------
--------
Carrying amount
At 31 October 2023
109
1,608
1,717
----
--------
--------
At 31 October 2022
136
1,545
1,681
----
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
8,547
724
Other debtors
19,538
21,643
--------
--------
28,085
22,367
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
262
Trade creditors
14,399
12,899
Social security and other taxes
41,305
43,320
Other creditors
10,639
8,235
--------
--------
66,605
64,454
--------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2023
2022
£
£
Mrs. J.P. Titterton-Fox
8,472
8,472
-------
-------