JT AUTOMATICS LIMITED

Company Registration Number:
05911004 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

JT AUTOMATICS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

JT AUTOMATICS LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 12,282 15,567
Total fixed assets: 12,282 15,567
Current assets
Stocks: 8,412 7,438
Debtors:   130,362 95,251
Cash at bank and in hand: 39,078 81,067
Total current assets: 177,852 183,756
Creditors: amounts falling due within one year:   (163,583) (154,536)
Net current assets (liabilities): 14,269 29,220
Total assets less current liabilities: 26,551 44,787
Creditors: amounts falling due after more than one year:   (23,410) (38,683)
Provision for liabilities: (2,333) (2,958)
Total net assets (liabilities): 808 3,146
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 806 3,144
Shareholders funds: 808 3,146

The notes form part of these financial statements

JT AUTOMATICS LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 08 August 2024
and signed on behalf of the board by:

Name: Mr R Leaney
Status: Director

The notes form part of these financial statements

JT AUTOMATICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:-Plant and Machinery 25% on costFixtures, fittings & equipment 25% on costMotor Vehicles 25% reducing balanceThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss

Other accounting policies

Intangible Fixed AssetsGoodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.At 31st March 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £427,000The operating lease relates to the property known as Unit 10 Bilton Road, Erith, Bexley, of which ends 25th November 2030

JT AUTOMATICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 11 13

JT AUTOMATICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 106,209
Additions 3,964
At 31 March 2024 110,173
Depreciation
At 01 April 2023 90,642
Charge for year 7,249
At 31 March 2024 97,891
Net book value
At 31 March 2024 12,282
At 31 March 2023 15,567

National Westminster Bank holds a fixed and floating charge that covers all the property or undertaking of the company