J F Webb Electrical Limited


FINANCIAL STATEMENTS


for the year ended 31st March 2024



J F Webb Electrical Limited

CONTENTS

for the year ended 31st March 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

J F Webb Electrical Limited

Company No. 07990691

STATEMENT OF FINANCIAL POSITION

as at 31st March 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment4344946929
344946929
CURRENT ASSETS
Debtors5907519341
Cash at bank and in hand44867707
1356127048
CURRENT LIABILITIES
Creditors: amounts falling due
within one year62784930857
NET CURRENT LIABILITIES(14288)(3809)
TOTAL ASSETS LESS CURRENT LIABILITIES202063120
 
Creditors: amounts falling due
after more than one year716939-
 
NET ASSETS32673120
 
CAPITAL AND RESERVES
Called up share capital11
Retained earnings32663119
SHAREHOLDERS FUNDS32673120

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st March 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 6 August 2024


J Middlewood

Director

Company Number 07990691 (England)

J F Webb Electrical Limited

NOTES TO THE ACCOUNTS

for the year ended 31st March 2024


1   Statutory information

J F Webb Electrical Limited is a private company limited by shares and registered under company number 07990691 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles15% - 25% Reducing Balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

3   Employee information

The average number of employees during the accounting period was 1 (2023 - 1).

4   Property, plant and equipment
 
Plant
Motorand
VehiclesMachineryTotal
£££
Cost
At 1st April 2023 -1378613786
Additions28016481232828
At 31st March 2024280161859846614
 
Depreciation
At 1st April 2023 -68576857
Charge for year350217615263
At 31st March 20243502861812120
 
Net Book Value
At 31st March 202424514998034494
At 31st March 2023-69296929
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 31st March 202424514-24514
At 31st March 2023---

5   Debtors20242023
££
 
Other debtors907519341
907519341

6   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts791811172
Obligations under finance lease and hire purchase contracts4169-
Corporation tax7235557
Taxes and social security costs791-
Other creditors1024810128
Accruals and deferred income40004000
2784930857

7   Creditors: amounts falling due after one year20242023
££
 
Obligations under finance lease and hire purchase contracts16939-
16939-

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