2023-01-012023-12-312023-12-31false11088395JC ENGINEERING PRODUCTS 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JC ENGINEERING PRODUCTS LTD

Registered Number
11088395
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

JC ENGINEERING PRODUCTS LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Ashley Chuchill
Darren Churchill
John Churchill
Lisa Churchill

Registered Address

Unit 4 City Limits
Danehill
Reading
RG6 4UP

Registered Number

11088395 (England and Wales)
JC ENGINEERING PRODUCTS LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3214,101327,437
214,101327,437
Current assets
Stocks430,00030,012
Debtors5405,970502,099
Cash at bank and on hand1,086,491723,547
1,522,4611,255,658
Creditors amounts falling due within one year6(409,490)(338,638)
Net current assets (liabilities)1,112,971917,020
Total assets less current liabilities1,327,0721,244,457
Provisions for liabilities7(32,850)(52,665)
Net assets1,294,2221,191,792
Capital and reserves
Called up share capital100100
Profit and loss account1,294,1221,191,692
Shareholders' funds1,294,2221,191,792
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2024, and are signed on its behalf by:
Ashley Chuchill
Director
Darren Churchill
Director
John Churchill
Director

Registered Company No. 11088395
JC ENGINEERING PRODUCTS LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
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 policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery20
Fixtures and fittings20
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year1516
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 January 231,012,32024,6641,036,984
Additions2,999-2,999
At 31 December 231,015,31924,6641,039,983
Depreciation and impairment
At 01 January 23701,0628,485709,547
Charge for year112,5143,821116,335
At 31 December 23813,57612,306825,882
Net book value
At 31 December 23201,74312,358214,101
At 31 December 22311,25816,179327,437
4.Stocks

2023

2022

££
Raw materials and consumables30,00030,012
Total30,00030,012
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables363,680350,321
Other debtors14,819125,362
Prepayments and accrued income27,47126,416
Total405,970502,099
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables57,52279,603
Taxation and social security277,537244,582
Other creditors65,2894,472
Accrued liabilities and deferred income9,1429,981
Total409,490338,638
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)32,85052,665
Total32,85052,665