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Registered number: 13108214
J4 Electrical Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Lockwood & Co
Accountants & Business Advisors
7 Bell Yard
London
Greater London
WC2A 2JR
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountants' Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company completely from the accounting records and information and explanations you have given to us.
This report is made to the directors. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. 
You have acknowledged on the balance sheet as at year ended 30 June 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Our report may not be relied upon by any person for any other purpose whatsoever.
Lockwood & Co Accountancy neither owes nor accepts any duty to any other party and shall not be liable for any loss, damage or expenses of whatsoever nature which is caused by their reliance on these accounts.
Signed
2nd September 2024
Lockwood & Co
Accountants & Business Advisors
7 Bell Yard
London
Greater London
WC2A 2JR
Page 1
Page 2
Balance Sheet
Registered number: 13108214
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,581 1,800
11,581 1,800
CURRENT ASSETS
Stocks 5 9,940 245
Debtors 6 10,399 10,780
Cash at bank and in hand 13,794 1,733
34,133 12,758
Creditors: Amounts Falling Due Within One Year 7 (37,414 ) (12,596 )
NET CURRENT ASSETS (LIABILITIES) (3,281 ) 162
TOTAL ASSETS LESS CURRENT LIABILITIES 8,300 1,962
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (2,059 ) (109 )
NET ASSETS 6,241 1,853
CAPITAL AND RESERVES
Called up share capital 10 6 6
Profit and Loss Account 6,235 1,847
SHAREHOLDERS' FUNDS 6,241 1,853
Page 2
Page 3
For the year ending 30 June 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Ahmed
Director
Mrs Emily Ahmed
Director
2nd September 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
J4 Electrical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13108214 . The registered office is 11 Grange Farm Close, Brinsworth, Rotherham, South Yorkshire, S60 5RX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 4
Page 5
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 2,000 - 783 2,783
Additions 1,384 11,000 - 12,384
As at 30 June 2024 3,384 11,000 783 15,167
Depreciation
As at 1 July 2023 555 - 428 983
Provided during the period 424 2,062 117 2,603
As at 30 June 2024 979 2,062 545 3,586
Net Book Value
As at 30 June 2024 2,405 8,938 238 11,581
As at 1 July 2023 1,445 - 355 1,800
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Page 6
5. Stocks
2024 2023
£ £
Materials 822 245
Work in progress 9,118 -
9,940 245
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,400 6,110
Other debtors 2,999 4,670
10,399 10,780
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,002 2,630
Other creditors 23,062 9,112
Taxation and social security 3,350 854
37,414 12,596
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 2,059 109
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 July 2023 109 109
Deferred taxation 1,950 1,950
Balance at 30 June 2024 2,059 2,059
Page 6
Page 7
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
Page 7