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Registered Number: 08491227
England and Wales

 

 

 

J & J MAINTENANCE (HOLDINGS) LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 

 
Notes

 
2024
£

  2023
£
(as restated)
Fixed assets      
Tangible fixed assets 4 158,345    80,641 
158,345    80,641 
Current assets      
Stocks 22,621    18,282 
Debtors 183,423    187,013 
Cash at bank and in hand 1,018,097    762,179 
1,224,141    967,474 
Creditors: amount falling due within one year (212,892)   (110,939)
Net current assets 1,011,249    856,535 
 
Total assets less current liabilities 1,169,594    937,176 
Creditors: amount falling due after more than one year (99,482)   (36,338)
Provisions for liabilities (39,586)   (15,322)
Net assets 1,030,526    885,516 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Share premium account 153,470    153,470 
Profit and loss account 876,056    731,046 
Shareholders' funds 1,030,526    885,516 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 14 May 2024 and were signed by:


-------------------------------
Mrs E J Abbot
Director
1
General Information
J & J Maintenance (Holdings) Ltd is a private company, limited by shares, registered in England and Wales, registration number 08491227, registration address Merlin House, Brunel Road, Reading, Berkshire, RG7 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover represents net invoiced sales of goods and services excluding Value added tax, as adjusted for work in progress. Income is recognised once the work is completed.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter.


The interest element of this obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged  to profit or loss on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.
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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery - 25% Reducing Balance Method
Fixtures & fittings - 25% Reducing Balance Method
Motor Vehicles - 25% Reducing Balance Method
Computer equipment - 25% Reducing Balance Method
Improvements to property - Straight line over 5 years
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Investment in subsidiaries
Investments in subsidiary undertakings are recognised at coast less any provision for impairment. 
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any forseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 9 (2023 : 9).
3.

Prior year adjustments

The prior year period includes an uncleared, misdated dividend payment of £57,000, and a  duplicate purchase invoice of £44,968 plus VAT.
These were both fundamental errors that have now been corrected, and as a result, the Corporation Tax provision has also increased by £8,544
Comparatives for Profit and Loss reserves have been increased by £93,424, the VAT liability increased by £8,994 and the uncleared Bank payment of £57,000 has been removed, Creditors have reduced by £53,962.


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 February 2023 211,985    211,985 
Additions 126,717    126,717 
Disposals (27,113)   (27,113)
At 31 January 2024 311,589    311,589 
Depreciation
At 01 February 2023 131,344    131,344 
Charge for year 27,549    27,549 
On disposals (5,649)   (5,649)
At 31 January 2024 153,244    153,244 
Net book values
Closing balance as at 31 January 2024 158,345    158,345 
Opening balance as at 01 February 2023 80,641    80,641 


5.

Director’s loan

Director's Advances, Credits And Guarantees

At the balance sheet, there were credit balances on the following directors' loan accounts:

Mrs E J Abbot - £1,560 in credit (2023: £1,248 in credit)


The above loan is interest free with no fixed date of repayment.



6.

Debtors: amounts falling due within one year

.   2024
£
  2023
£
Trade Debtors 152,839  152,066 
Prepayments & Accrued Income 4,528  4,318 
Other Debtors 26,056  30,629 
183,423  187,013 

7.

Creditors: amounts falling due within one year

.   2024
£
  2023
£
Trade Creditors 64,859  38,930 
Bank Loans & Overdrafts 5,362  5,230 
Corporation Tax 75,000  43,401 
PAYE & Social Security 3,570  3,362 
Other Creditors 9,419  293 
Obligations under HP/Financial Leases 9,007 
Directors 1,560  1,248 
VAT 44,115  18,475 
212,892  110,939 

8.

Creditors: amounts falling due after more than one year

.   2024
£
  2023
£
Bank Loans & Overdrafts 30,975  36,338 
Obligations Under HP/Financial Leases 68,507 
99,482  36,338 

9.

Leasing Agreements - Hire Purchase Contracts

Minimum lease payments fall due as follows:   2024
£
  2023
£
Within one year 9,007 
Between one and five years 68,507 
77,514 

Assets purchased under hire purchase are secured on the assets themselves.

10.

Leasing Agreements

Non cancellable operating leases   2024
£
  2023
£
Within one year 22,811  22,811 
Between one and five years 22,811 
22,811  45,622 


11.

Ultimate Controlling Party

Mrs E J Abbot and her husband are the ultimate controlling party.
2